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When should you update your estate plan?

On Behalf of | Sep 3, 2021 | Estate Planning |

You feel a sense of accomplishment after finishing your estate plan, but do not take a set-it-and-forget-it approach to provide for your loved ones and remaining in control of your assets. You may want to revise your estate planning documents in the coming years.

Forbes describes life circumstances that may require a change to your will, trust or other estate planning documents. Ensure essential legal paperwork always represents your current desires.


Did you move to Ohio after drafting your estate? Or maybe you plan to move out of the state. Either way, when you move to a different state, ensure your estate planning documents meet the region’s current regulations and requirements.

A change of assets

If you come into a sizeable inheritance, claim bankruptcy or experience another shift in your financial situation for the better or worse, modify your estate so it aligns with your current concerns and financial goals. You may also review your estate if you sell or buy real estate property, a business or something similar.

Changing family structure

If you marry, divorce or have a child or grandchild, you may want to add or remove a beneficiary from your estate plan. Similar family circumstances that could require changing your estate include wanting to disinherit a financially irresponsible relative or another beneficiary.

Inappropriate trustee or executor

You could change your mind about your current trustee or executor. If you and your current chosen representative have a falling out, or if you feel the person does not have your most favorable interest in mind, think about changing your estate plan ASAP.

Reconsider tucking your finished estate documents away for the rest of your life. The right updates protect your rights and your loved ones.