Just as we shift routines with the changing seasons, our estate plans need regular updates to reflect the lives we’re actually living—not the lives we had when we first signed the documents.
Why Summer Is a Good Time to Review
The longer days and slower pace of summer make it an ideal time to revisit your estate planning documents. You’re already decluttering your home, catching up on reading, or planning family get-togethers—why not make a quick legal review part of your summer reset?
Summer also brings its own set of risks—travel, events, and heat-related health concerns—reminding us that the unexpected doesn’t wait. Taking a proactive approach now can ensure your wishes are clear and your documents are legally sound.
Life Changes = Plan Changes
Many people create their estate plan and assume it’s set forever. In reality, any major life change should prompt an update. Ask yourself:
- Has your family grown or changed in the past year (marriage, birth, divorce)?
- Have you moved, bought real estate, or acquired new investments?
- Are your beneficiaries still who you want them to be?
- Are your current agents, trustees, or guardians still appropriate choices?
- Have you started or closed a business?
These changes not only affect your wishes but may require legal updates to how assets are titled or distributed.
Tax Laws & Legal Updates
It’s not just personal change that matters—laws change too. Estate and gift tax thresholds, retirement account rules, and healthcare laws shift over time. Reviewing your plan helps ensure you’re still getting the most protection—and the most benefit—under current law.
Recent legislation—such as updates to the SECURE Act or changes to the estate tax exemption—could impact how your assets pass to loved ones or the tax burden they’ll face. Your estate plan should reflect today’s landscape, not yesterday’s rules.
Don’t Forget Digital Assets
Your estate isn’t limited to tangible things. Have you included access instructions for digital accounts like email, online banking, or social media? If not, now is a great time to add a digital assets clause and designate someone to manage those areas.
Keep It Current
Estate planning isn’t a one-and-done deal. Like your wardrobe, it needs occasional editing to stay relevant and functional. Your legacy deserves that attention. Use this season of change to get ahead of what’s next. A simple review can prevent confusion, family conflict, or costly delays down the road.
If it’s been more than three years since your plan was created—or even one year since your last review—summer is the perfect time to reconnect with your estate planning attorney and ensure everything is still working for you.
