7 Life Events That Should Trigger an Estate Plan Review

September 29, 2025
Paramus Estate Planning

Don’t Let Outdated Documents Undermine Your Legacy

Life moves fast—and so should your estate plan.

As your personal, financial, and family circumstances evolve, your estate plan needs to evolve too. Without updates, your plan may no longer reflect your wishes, comply with current laws, or protect the people you care about most.

In this post, we’ll walk through seven key life events that should prompt you to review and possibly revise your estate planning documents.

1. You Got Married or Divorced

Marriage and divorce are among the most important life changes that impact your estate plan. These events may affect:

  • Who inherits your assets

  • Who serves as your executor or trustee

  • Beneficiary designations on life insurance or retirement accounts

Why it matters: If your documents still name a former spouse—or fail to include your current one—it can create legal confusion or family conflict.

2. You Had a Child (or a Grandchild)

New additions to your family may not be automatically protected unless you update your estate plan.

What you might need:

  • Add a guardian for minor children

  • Set up a trust to manage assets until your child is older

  • Revise beneficiary designations to include grandchildren

Tip: A will alone may not be enough. Trusts can help manage inheritance over time and avoid court oversight.

3. You Moved to Another State

Each state has its own laws about wills, trusts, probate, taxes, and healthcare directives. Even if your documents remain legally valid, they may no longer be optimal in your new home.  See also: Moving to a New State? Here’s Why You Must Review Your Estate Plan

4. You Changed Jobs or Financial Circumstances

A major increase (or decrease) in wealth should lead to a review. New investments, equity compensation, or retirement plans may not be reflected in your current plan.

Also, make sure:

  • Employer-provided life insurance beneficiaries are up to date

  • New accounts are titled correctly or placed into your trust, if applicable

5. A Loved One Passed Away, Became Incapacitated, or Is No Longer in Your Life

If someone you previously named as a:

  • Guardian for your children

  • Executor of your will

  • Trustee of your trust

  • Health care proxy or power of attorney

…is no longer able to serve, your estate plan needs a revision. These roles are critical, and backups should always be in place.

6. It’s Been 3–5 Years Since You Last Looked

Even if no major events have occurred, review your estate plan every 3–5 years. Laws change, tax codes shift, and planning strategies evolve.

Example: The Secure Act changes how retirement accounts interact with trusts, and some older trusts may need to be amended to reflect the new regulations.

7. Your Goals or Values Have Shifted

Estate planning isn’t just about money—it’s about legacy.

  • Are you now more focused on charitable giving?

  • Do you want to limit how your heirs use inherited funds?

  • Have your views on end-of-life care changed?

These personal shifts should be reflected in your plan, especially in areas like trusts, powers of attorney, and healthcare directives.

Final Thoughts: Keep Your Plan Aligned with Your Life

Outdated estate plans can cause unintended consequences—from missed tax-saving opportunities to family disputes.

Reviewing your plan after any major life event (or at least every few years) is essential to ensure it still reflects your goals, complies with current law, and protects your legacy.

Need to review your plan? Contact Paramus Estate Planning today for a consultation. We’ll help ensure your documents are up to date and designed for what matters most.

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