How Often Should I Review My Estate Plan?
Your estate plan isn’t something you should create once and forget about. Regularly reviewing and updating it ensures your assets, loved ones, and legacy remain protected as your life and the law change.
An estate plan is not a “set and forget” document. Over time, changes in your life circumstances or laws can render your plan outdated. In this post, we explain how often you should review your estate plan, what life events should prompt an update, and how to keep your plan current for your family’s protection.
Your estate plan captures your intentions at a particular moment taking into account your assets, family structure, and the current legal environment. But life doesn’t stand still. Over months or years:
Your assets may grow or shrink.
Your family dynamic may change.
Tax, probate, and estate laws may shift.
Your health or finances might undergo transformation.
Because of this, what made sense five years ago might no longer be optimal. Ignoring these evolving factors could lead to unintended consequences for your heirs or inefficiencies in your plan.
| Review Type | Timing | Purpose |
|---|---|---|
| Quick annual check | Once a year | A “spot check” to see if anything significant has changed (new assets, move, marital changes). |
| Comprehensive review | Every 5 years | A deeper analysis of your plan’s structure, named trustees, and amounts to each beneficiary. |
| Event-triggered review | As needed | Immediate review when major life or financial events happen. |
A quick review each year is a good idea to address any changes in your life. Then a thorough review is recommended every five (5) years. Also, a review is appropriate when a major life event occurs.
This approach keeps your will, trusts, powers of attorney, and beneficiary designations aligned with your current wishes and Missouri’s legal requirements.
When reviewing your estate plan, pay attention to:
Beneficiaries and asset titles — Ensure new property, accounts, and policies are properly covered.
Trust and will provisions — Confirm they reflect your current intentions.
Executor, trustee, and guardian choices — Make sure they remain appropriate and willing.
Tax implications — Laws and exemptions can change; stay compliant with Missouri and federal estate tax updates.
You should revisit your estate plan right away if any of the following occur. These events may require adjustments to wills, trusts, powers of attorney, beneficiary designations, or other documents.
You get married, divorced, or remarry
You have a child, adopt, or gain stepchildren
Someone in your immediate family passes away, becomes incapacitated, or develops serious illness
You receive a significant inheritance or gift
You anticipate financial hardship or changes in income
Your health changes significantly
You move to a new state or country
You enter retirement
Your personal representative, trustee, or guardian can no longer serve or declines the role
1. Set a recurring calendar reminder
Schedule a yearly reminder (such as every January) to review your estate plan and identify any significant personal, financial, or legal changes.
2. Maintain a file of changes
Keep an organized file or digital document where you record updates like property purchases, new accounts, births, marriages, or other life events that could impact your estate plan.
3. Consult your estate planning attorney
Meet with your estate planning attorney periodically or whenever major changes occur to ensure your plan remains current, compliant, and aligned with your long-term goals.
From our office in Springfield, we help clients throughout Missouri. We regularly assist families and business owners in Kansas City, St. Louis, Independence, Lee’s Summit, O’Fallon, St. Charles, St. Joseph, St. Peters, Blue Springs, and Joplin, as well as communities such as Chesterfield, Wentzville, Jefferson City, Cape Girardeau, Liberty, Nixa, Branson, Rogersville, Republic, Ozark, Bolivar, Sedalia, Rolla, Poplar Bluff, Lebanon, Fort Leonard Wood, Neosho, and West Plains.
While there’s no one-size-fits-all rule, a good practice is to 1) conduct a quick review every year, 2) do a full, in-depth review every five years; and 3) revisit your plan immediately after major life changes.
By staying proactive, you help ensure your estate plan continues to protect your goals, family, and legacy. If you have questions or would like help reviewing your estate plan, we’re here to help.
Please call our office at (888) 887-4170 if you have any questions or to schedule a consultation.
Your estate plan isn’t something you should create once and forget about. Regularly reviewing and updating it ensures your assets, loved ones, and legacy remain protected as your life and the law change.
