When and Why You Should Review Your Estate Plan
Creating an estate plan is one of the smartest and most caring things you can do for your loved ones. But even the best plan won’t stay perfect forever. Life changes, and your estate plan should change with it.
One of the most common things we remind clients at Ballinger Legal is that an estate plan isn’t a “set it and forget it” kind of project. It’s a living document that should grow and evolve along with you.
When to Review Your Estate Plan
A good rule of thumb is to review your plan every three to five years. But sometimes, life gives you a few clear signs that it’s time for an update sooner.
Here are some of the most common times to revisit your plan:
Marriage or divorce – Relationships change, and so should your beneficiaries and decision-makers.
Birth or adoption of a child – New family members mean new people to protect.
Moving to or from Ohio – Estate planning laws vary by state, so it’s important to make sure your plan still works where you live.
Major financial changes – A new business, inheritance, or home purchase can shift your estate’s value and strategy.
The death of a named guardian, executor, or beneficiary – If someone listed in your plan is no longer able to serve, you’ll need to name a replacement.
Other Times You Might Want to Review (That People Don’t Always Think About)
Not all updates come from big life events. Sometimes smaller or even surprising changes can have a big impact too. For example:
Your kids have grown up – Maybe your “minor children” are now adults (or at least think they are 😉). It might be time to name them in new roles.
You adopted a pet – Fido or Fluffy might not be in your will yet, but they probably should be. Pet trusts are more common than you’d think!
You changed your mind about who should make decisions – It’s okay to update your power of attorney or healthcare proxy if someone else feels like a better fit now.
You opened new accounts or online assets – If you’ve started using digital banking, cryptocurrency, or even social media memorial features, your plan should reflect how to access or manage those.
You’ve had a change of heart – Sometimes your goals, relationships, or values shift over time. That’s perfectly normal, and your plan can shift with them.
Make It a Habit
Think of reviewing your estate plan like scheduling an annual physical or a car tune-up. Even if nothing’s “wrong,” it’s worth making sure everything still runs smoothly.
You don’t have to start from scratch each time. Often, a quick review with your attorney can confirm that your plan still matches your current wishes and that all your documents and beneficiary designations are up to date.
Don’t Let Your Estate Plan Collect Dust
Your estate plan should reflect where you are today, not where you were five or ten years ago. Taking a little time to review it regularly helps protect your loved ones and ensures your wishes are carried out exactly as you intend.
At Ballinger Legal, we make it easy to review your plan, talk through changes, and adjust your documents as your life evolves.
Contact Ballinger Legal today to schedule a review and keep your estate plan as current and intentional as you are.
