02/10/2026
Estate plans benefit from regular checkups. While many people review and revise their plans after a major life event, it’s also good practice to review your plan annually — or at least every three to five years — in the absence of such events. These reviews help ensure that your documents still reflect your wishes while remaining effective under constantly changing legal and financial conditions.
A common trigger for an update is a change in family circumstances. If you drafted your will before getting married or having children, it may need to be revised to include a spouse or new family members. Beneficiary designations and distributions should also be reviewed regularly. Without updates, assets may unintentionally pass to an ex-spouse or fail to include children or grandchildren. If a beneficiary or fiduciary named in your estate plan has died or is no longer appropriate, revisions are necessary to clarify how assets should be redistributed or who should become the new fiduciary.
Relocating to a different state or country, retiring, or entering other transitional periods are also reasons to confirm that your estate plan will support a smooth transfer of assets to your loved ones.
Issues that can affect your plan
Changes in laws and regulations are another reason to revisit your estate plan. Tax laws, inheritance rules and estate planning regulations evolve over time, and these shifts can affect the value and structure of your bequests. Reviewing your plan in light of current laws can help you take advantage of new opportunities or avoid unintended tax burdens and administrative complications.
Your financial picture may also change in ways that require updates. Outdated assumptions about asset values can contribute to uneven or unintended outcomes. New assets, business sales or acquisitions, inheritances, investment portfolio changes, or increased debt can all affect how your estate should be structured. Keeping an up-to-date inventory — including financial accounts, digital assets, retirement plans, insurance policies, deeds and the location of safe deposit boxes — helps ensure your plan reflects your true financial position and can be executed without confusion.
How assets are owned is another important consideration. Whether property is held jointly or solely can significantly affect how and when it transfers, sometimes overriding the instructions in a will. Reviewing asset titling is a critical part of any estate plan checkup.
Medical changes can also prompt revisions. Serious illness or disability may require updates to health care directives, powers of attorney or long-term care planning. If a designated financial or health care decision-maker is no longer suitable, it is important to appoint a new agent. Planning for potential long-term care or assisted living expenses can help you prepare for costs that might otherwise deplete assets.
Regularly updating your estate plan helps safeguard both your future and your family’s. Even if your plan is in good shape today, it takes ongoing attention to be sure it stays that way. Work with a financial advisor and an estate planning attorney to help ensure your plan remains accurate, compliant and aligned with your goals.
