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. Without reviewing and updating your estate documents regularly, state laws or outdated instructions could determine what happens to your assets. Here are some good times to review your estate plan:

Becoming a Parent

Welcoming a child into the family is a joyous occasion, but it also brings new responsibilities. Ensuring your children are financially protected and that guardianship designations are clear in emergencies is crucial. Think about specifying trusted guardians and updating your beneficiaries to reflect these life-enriching additions.

Death of a Beneficiary or Executor

The passing of someone named in your estate plan requires prompt action. Whether it's a beneficiary or an executor, their absence means it's time to update your designations to ensure your intentions are honored. Consider who you trust most with these important responsibilities.

Getting Married or Divorced

Marriage and divorce mark significant shifts in legal and financial circumstances. Marriage may mean reevaluating how assets are distributed between new family members or legal obligations, while divorce necessitates immediate updates to prevent unintended beneficiaries from inheriting your assets.

A Significant Change in Assets

From receiving an inheritance to starting a business or experiencing financial hardship, your financial landscape can change dramatically. Such significant shifts might demand an overhaul of your estate planning goals to ensure they align with your current situation and future desires.

Moving to a New State

If you relocate across state lines, remember that estate planning laws vary. This move might require updates to your will, trust, or other essential documents to align with local regulations, ensuring your estate plan remains legally compliant and your preferences respected.

Seeking professional estate planning guidance can help you navigate these changes smoothly. Consider consulting with an estate planning attorney to address your questions or discuss your situation further. For peace of mind, it's generally advisable to review your estate plan every few years or whenever a major life event takes place.