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 If you don’t review and update your estate documents accordingly, state laws or outdated instructions may determine what happens to your assets. Here are some key life events that are good times to review your estate plans:

Death of a Beneficiary or Executor

The passing of someone named in your estate plan can dramatically alter your wishes. Whether it's a beneficiary or an executor, their absence requires immediate updates to ensure your assets are distributed according to your current intentions and someone equally trustworthy is appointed to manage your estate.

Getting Married or Divorced

Marriage often changes legal and financial circumstances, potentially affecting how your assets are distributed. Similarly, divorce requires swift action to prevent unintended beneficiaries, such as an ex-spouse, from receiving a portion of your estate.

A Significant Change in Assets

Receiving an inheritance, starting a business, or experiencing financial hardship can impact your estate planning goals. Adjust your plan to reflect these changes and ensure your asset distribution aligns with your current financial situation and future aspirations.

Moving to a New State

Estate planning laws vary significantly from state to state, so a relocation might necessitate updates to your will, trust, or other vital documents. A move offers an excellent opportunity to revisit your estate strategy and ensure compliance with local regulations.

Becoming a Parent

The addition of a new family member is a crucial time to review your estate plan. Ensuring your children are financially protected and that guardianship designations are clear in case of an emergency is indispensable to secure their future.

Life's changes can be daunting, but seeking professional estate planning guidance can help you navigate these shifts smoothly. Consulting with an estate planning attorney ensures that your estate plan reflects your current life circumstances and future hopes. It's advisable to review your estate plan every three to five years or after any major life event. Taking these steps will provide peace of mind, knowing your wishes will be honored.