October is National Estate Planning Month—a timely reminder to revisit and refresh your estate plan. It's common for individuals to create their estate plans years ago, believing they were set for life. While those initial plans might have been comprehensive, life can change quickly. An outdated estate plan can lead to complications and might not fully represent your current intentions. In this blog, we'll explore seven reasons to revisit your estate plan.

New Financial Landscape

If you've recently landed a new job, received a promotion, purchased real estate, or started a business, it's time to reassess your estate planning documents. These financial changes can significantly impact your estate plan's direction and effectiveness.

Significant Life Events

Life is full of changes. Whether it's marriage, divorce, childbirth, adoption, or the loss of a loved one, these milestone events should prompt you to update your estate plan to reflect your new circumstances.

Relocation Considerations

Moving to a new state? Each state has its own legal regulations that may affect your estate plan. Reviewing and adjusting your plan to comply with your new state's laws is essential.

Evaluating Beneficiaries

Take the time to verify that your named beneficiaries align with your current relationships and intentions. As life evolves, so might your preferences regarding how your estate should be distributed.

Health and Lifestyle Changes

If there have been changes in your health—whether personal or among loved ones—you may need to update healthcare directives or power of attorney arrangements to ensure they're in line with your current needs.

Keeping Up With Tax Laws

Changes in state or federal tax laws can present new obligations or opportunities for your estate planning strategies. Staying informed and making necessary adjustments is key to keeping your plan efficient.

Routine Plan Reviews

Even in the absence of major life events, your estate plan should be reviewed every 3 to 5 years for accuracy and relevance. This regular review ensures your intentions are accurately reflected.

Updating an estate plan doesn't have to be overwhelming. It's about gaining peace of mind knowing that your plan reflects your current wishes and life circumstances. We encourage you to take action: schedule a consultation with a professional or start reviewing your documents this October. Ensure your estate plan is as enduring as your life changes.