When Life Changes, Your Estate Plan Should Too

Major life events can shift your financial picture and family structure, and experts say those moments are the right time to take a fresh look at your estate plan. Without updates, your money and property may not go where you expect, and the people you trust most may not be legally empowered to act for you.

Marriage, Divorce or the Death of a Spouse

A new marriage, the end of one, or the loss of a partner often reshapes an estate plan. Spouses are commonly named as beneficiaries, trustees, executors, or agents under powers of attorney. When your marital status changes, those roles should be reviewed and updated so your plan reflects your current wishes.

Big Financial Changes

A major shift in income or assets can also trigger the need for a review. Retirement, buying or selling a business, receiving an inheritance, or losing significant assets can all change the way your plan should function. Keeping your documents aligned with your financial reality helps make sure your property is protected and distributed the way you intend.

New Children or Grandchildren

Births and adoptions introduce new priorities. Families often add trusts for future expenses, including education accounts such as 529 plans. Parents should also revisit guardianship decisions for minor children. An updated plan helps ensure that new family members are included and supported.

Changing Relationships

As family dynamics evolve, so do the people best suited to make decisions for you. A review may be appropriate when:

• Children or grandchildren reach adulthood

• A decision-maker dies, moves away or no longer wishes to serve

• A beneficiary becomes estranged or develops financial or health issues

• A beneficiary becomes disabled and needs special planning options

• Named guardians for minor children become unavailable or no longer fit the role

These adjustments help ensure that trusted people are in place when they’re needed.

A Move to a New State

State laws differ, and moving across state lines can affect how your will, trust and powers of attorney operate. Even a newly purchased second home may require updates. A review helps confirm that your plan works within your new state’s legal framework.

Outdated Powers of Attorney

While wills take effect after death, powers of attorney protect you during life. If these documents are old or incomplete, the wrong person may be authorized to act for you, or a court could become involved to appoint a guardian. Updated powers of attorney keep your chosen decision-makers firmly in place.

Beneficiary Designations That Don’t Match Your Plan

Retirement accounts, life insurance and annuities aren’t governed by your will. They pass directly to the people named on their beneficiary forms. If those forms are outdated after marriage, divorce or the death of a loved one, your assets could end up with unintended recipients. Regular reviews help keep everything consistent.

Digital Assets That Need Attention

Online accounts—from email and social media to cryptocurrency and cloud-stored photos—have become part of modern estates. Without clear instructions, families can face roadblocks accessing or managing them. Adding digital-asset planning protects both personal information and financial value.

Keeping Your Plan Working for You

Estate plans are meant to help, not hinder. If any of these changes sound familiar, it may be time for a review. Updating your documents ensures your plan stays current, protects the people you care about and reflects who you trust to act on your behalf.