Time Moves On. Has Your Estate Plan?

When most people complete their estate plan, there’s a sense of relief — a big item checked off the life to-do list. But here’s the truth: estate planning isn’t a one-and-done event. It’s a living, evolving process that needs to grow with you. So ask yourself: Have you outgrown your estate plan?

Life doesn’t stand still, and neither should your plan. Here are some common signs that it might be time for a review — and possibly a refresh.

1. Major Life Events Have Happened

If you’ve experienced any of the following since your estate plan was last updated, it’s time to revisit it:

• Marriage or divorce

• Birth or adoption of a child or grandchild

• Death of a spouse, family member, or beneficiary

• Significant change in health

• A new home or real estate purchase

• Business start-up, sale, or succession planning needs

These changes can significantly impact who you want to name as beneficiaries, agents, or trustees — and how you want your assets handled.

2. Your Financial Picture Has Changed

Whether your wealth has grown (or contracted), your estate plan should reflect your current assets. A plan that made sense when you had one house and a modest retirement account may fall short if you now own multiple properties, have a complex investment portfolio, or have built a business.

An updated plan can also help minimize taxes, avoid probate, and ensure your assets are distributed according to your current wishes.

3. You’re Not Sure Who’s in Charge Anymore

If you can’t remember who you named as your trustee, executor, or power of attorney — or if those people are no longer in your life — your estate plan needs attention.

Ask yourself:

• Would you still trust that person to act on your behalf?

• Are they still willing, available, and able to serve?

• Do they still live nearby?

Naming the right decision-makers is just as important as naming beneficiaries.

4. Your Kids Are No Longer Kids

If your children were minors when you created your estate plan, chances are your documents focus on guardianship and managing assets for them through trusts. But if they’re now adults, it may be time to:

• Remove guardianship provisions

• Allow for direct inheritance (or more sophisticated trust structures)

• Include them in your health or financial powers of attorney

This transition is a natural time to revisit your overall goals.

5. The Law Has Changed (and It Probably Has)

Tax laws and estate planning rules don’t stay the same forever. If your estate plan is more than 5 years old, there may be legal updates that affect:

• Estate tax thresholds

• Retirement account rules (especially post-SECURE Act)

• Trust laws and digital asset access

A quick review with an estate planning attorney can catch issues before they become problems.

6. You Can't Find Your Documents (or They're in a Drawer Somewhere)

This one’s simple: if your plan is gathering dust in a drawer and no one else knows where to find it — it’s time to revisit it.

A modern estate plan should be:

• Accessible to those who need it

• Shared (at least in part) with your key decision-makers

• Backed up digitally (where appropriate)

  
  

Final Thoughts: Your Estate Plan Should Grow With You

Think of your estate plan like a tailored suit — it needs periodic adjustments to keep fitting well. If it’s been a few years, or if any of these signs hit close to home, consider scheduling a review.

An outdated plan is only slightly better than no plan at all — but the good news is that updating it can be easier than you think.

Call Lynn to learn more! (714) 619-4145