The Importance of Updating Your Estate Plan: When and Why You Should Do It
Sept. 19, 2025
Planning for the future is never easy—especially when it means thinking about death, incapacity, or leaving your loved ones behind. The estate planning process brings up emotional and personal questions that many people prefer to avoid.
But avoiding it doesn’t stop life from changing—and it won’t protect your loved ones from confusion, legal disputes, or financial hardship after you're gone.
As a New Jersey estate planning lawyer, I’ve worked with many families who thought their plan was “done,” only to realize—too late—that outdated documents created more problems than they solved. If you live in Lawrenceville, New Jersey, or Newton, Pennsylvania, or nearby communities, I'm here to help you keep your estate plan current.
Life Doesn’t Stand Still—Neither Should Your Estate Plan
Your estate plan should reflect your current life—not the life you had when you first signed your will or trust documents. Over time, changes in your personal relationships, family structure, health, and financial status may mean your existing documents are no longer a good fit.
Here’s the bottom line: estate planning isn’t a one-time event. It’s a living set of decisions that should evolve with you.
When You Should Update Your Estate Plan
Several key moments in life call for a fresh look at your estate plan. If any of these apply to you, it’s probably time to meet with an estate planning attorney and update your documents.
Major life events that require an estate plan review:
Marriage or divorce: Getting married (or divorced) can dramatically affect who you want to name as a beneficiary, guardian, or power of attorney.
Birth or adoption of a child: Adding a new member to your family often means adjusting guardianship provisions and financial planning strategies.
Death of a spouse or beneficiary: If someone named in your plan passes away, their absence can leave gaps or unintended consequences.
Significant health changes: If you or a family member develops a serious illness or becomes disabled, you may need to reconsider healthcare directives and asset protections.
Relocation to another state: Each state has its own estate laws. If you’ve moved to or from New Jersey or Pennsylvania, your plan might need adjustments to meet local rules.
Change in financial status: Receiving an inheritance, starting or selling a business, or any substantial increase or decrease in wealth can change how you want to distribute your estate.
Any one of these events can mean the difference between a plan that protects your wishes—and one that creates confusion and conflict.
What Needs to Be Reviewed or Revised?
When updating your estate plan, you're not starting from scratch. Instead, you’re refining the details to match your current circumstances. A thoughtful review includes looking at more than just your will or trust.
Key estate planning documents to review include:
Will or revocable living trust: Update beneficiaries, executors, or trustees based on your current relationships and wishes.
Financial power of attorney: Make sure the person you’ve appointed is still able and willing to manage your finances if needed.
Healthcare directive or living will: Verify that your medical decisions are still accurate and that your healthcare proxy is still a trusted choice.
Beneficiary designations: Review the named beneficiaries on life insurance policies, retirement accounts, and payable-on-death (POD) accounts.
Guardianship appointments: If you have minor children, double-check that the people named as guardians still align with your wishes.
Asset ownership and titling: Make sure your assets are titled in a way that aligns with your overall estate plan, especially if you’ve created a trust.
It’s easy to forget that some of these documents exist outside your will or trust—but they still control how and to whom assets are distributed.
Why Regular Reviews Are Worth Your Time
Even if nothing big has changed in your life, the law might have. Federal and state estate tax laws, probate procedures, and even rules around power of attorney documents can shift over time. What was once a solid plan may no longer hold up.
Some key benefits of updating your estate plan regularly include:
Avoid outdated decisions: A plan from 10 or 15 years ago may reference people or institutions that no longer exist or that you no longer trust.
Protect your family from conflict: Clear, updated instructions help reduce family disagreements and minimize the chance of costly court disputes.
Keep up with changing laws: New tax rules or probate procedures could affect how your estate is managed—and whether your assets are preserved or lost.
Reflect your current values and goals: You may want to support new charities, structure gifts differently, or include provisions for grandchildren or stepchildren.
Stay prepared for incapacity: Updated powers of attorney and healthcare directives can make a big difference during medical emergencies.
Taking the time to review your plan every few years gives you peace of mind—and protects the people who matter most to you.
How Often Should You Revisit Your Plan?
There’s no hard rule, but I generally recommend reviewing your estate plan at least once every three to five years—even if nothing major has changed.
Good times to schedule an estate plan review include:
After filing your taxes
Around birthdays or anniversaries
During retirement planning sessions
Before major travel
Following a family meeting
Treat your estate plan review the way you might treat an annual health check-up. It’s a small investment of time that can prevent much bigger problems later.
Mistakes That Can Happen When You Don’t Update
I’ve seen firsthand what happens when estate plans are ignored for too long. While every family is different, certain issues pop up again and again—and they can be avoided with a timely update.
Common consequences of outdated estate plans include:
Unintended beneficiaries receive assets: An ex-spouse or estranged relative could inherit by default if your plan isn’t current.
The wrong person makes medical or financial decisions: If your power of attorney is outdated, someone you no longer trust could be legally responsible for your well-being.
Conflicting documents create confusion: Multiple versions of wills or unclear beneficiary designations can trigger legal battles.
Assets get stuck in probate: Without the right titling or trust documents, even small estates can get tied up in court.
Your family pays unnecessary taxes or fees: Missed tax planning opportunities can reduce what your loved ones receive.
These problems aren’t just legal—they’re deeply personal. A little attention now can save your family a great deal of stress later.
Estate Planning After Retirement
Retirement is one of the most important times to revisit your estate plan. Your goals may shift, your health needs may increase, and you may want to leave a specific legacy.
What to consider in retirement:
Planning for long-term care: Consider how you want to handle the cost and logistics of assisted living or home healthcare.
Charitable giving: Retirement is often when people think more seriously about supporting causes they care about.
Adjusting income and asset strategies: You may want to update your trust or will to reflect new financial priorities.
Gifting to children or grandchildren: It’s a good time to decide whether you want to make lifetime gifts or leave an inheritance.
Retirement is a milestone that opens up new planning opportunities—and it’s a great reminder to get your documents in order.
Contact an Experienced Estate Lawyer
An estate plan isn’t something you “set and forget.” It’s something that should reflect who you are now—not who you were 10 or 15 years ago. Whether you’ve had major life changes or just want peace of mind, reviewing and updating your estate plan is one of the most thoughtful steps you can take for yourself and your family.
If you live in Lawrenceville or Newton, Pennsylvania; or nearby communities in Trenton, Pennington, Ewing Township, East Brunswick, West Freehold, or throughout Mercer County, Burlington County, Middlesex County, or Monmouth County, I invite you to reach out to me at my firm, James P. Manahan, today.
Let’s talk about where you are now—and where you want your legacy to go. Contact me to schedule a consultation and take the first step toward a better future for you and your loved ones.