Life is full of big changes—some exciting, some unexpected—but they all have the potential to impact your estate plan. Major life events, from marriage to financial shifts, can alter your wishes, legal responsibilities, and asset distribution. If these changes are not reflected in your estate documents, state laws or outdated instructions may determine the fate of your assets. This makes regular reviews and updates to your estate plan essential.

Getting Married or Divorced

Marriage significantly alters legal and financial circumstances, affecting asset distribution. Newlyweds should review and align their estate plans to reflect their joint decisions on shared and individual assets. Conversely, divorce demands immediate updates to prevent unintended beneficiaries from inheriting your assets.

Becoming a Parent

Welcoming a child into your family is a joyous occasion that also necessitates revisiting your estate plan. Ensure your children are financially protected and guardianship designations are clear in case of an emergency. This consideration not only safeguards your child's future but also brings peace of mind.

A Significant Change in Assets

Major asset changes—be it an inheritance, starting a business, or experiencing financial hardship—can impact your estate planning goals. Adjusting your plan to reflect your current financial situation is crucial to maintain alignment with your overall objectives.

Moving to a New State

Relocating often requires a fresh look at your estate plan since the laws governing estate planning vary from state to state. You may need to update your will, trust, or other documents to comply with new state requirements.

Death of a Beneficiary or Executor

Often overlooked, the death of a beneficiary or executor calls for immediate updates to your estate plan. Ensuring the updated designations accurately reflect your current wishes is paramount to the smooth execution of your estate plan.

It's important to conduct a thorough review of your estate plan when any of these life events occur. Consider setting a routine check-up every three to five years, or sooner if your situation changes. Seeking professional estate planning guidance can facilitate navigating these changes smoothly. Do not hesitate to consult with an estate planning attorney if you have questions or want to discuss your situation further.