The Estate Planning “Checkup” You Should Be Doing

When was the last time you updated your estate plan? If you have to think about it, it has probably been too long. Just like regular health checkups, your estate plan needs a review to make sure it still works for your needs. Life does not stand still—your estate plan should not either.

Why At Least Every Few Years?

A lot can change in a few years. For our clients, we offer a maintenance program and we update their documents every year. In Virginia we have yearly law changes. Maybe you have bought a home, welcomed a new child or grandchild, or seen shifts in your financial situation. Laws also change, and what worked years ago might not be the best approach today. A regular review ensures your plan stays up to date and aligned with your wishes. We believe it is important that your documents are up to date so they work when they are needed to do so.

Key Areas to Review

• Beneficiaries – Are they still the right people? Have there been marriages, divorces, or new additions to the family? Do you need to update life insurance policies or retirement accounts to match your estate plan?
• Trustees & Executors – Are they still willing and able to serve? Sometimes, relationships change, or loved ones move away, making it harder for them to take on these responsibilities.
• Assets – Have you bought or sold property, started a new business, or made investments that need to be reflected in your plan? If your estate plan does not reflect these changes, some assets may not be distributed the way you intended.
• Healthcare & Financial Decisions – Do you still trust the people named in your living will, healthcare and financial power of attorney to make decisions if needed? If you have remarried, moved to a different state, or had a falling-out with someone, it is time to update these documents.
• Tax & Legal Updates – Estate and tax laws change over time, and even a small legal tweak could have a big impact on your plan.

Do Not Let an Outdated Plan Cause Problems

An estate plan that has not been updated in years might not provide the protection you intended. Beneficiary designations could be outdated, assets could end up in probate unnecessarily, and loved ones could be left dealing with confusion or disputes. Regular updates keep everything clear and in order.

Has it been a while since you last looked over your estate plan?

Now is the perfect time to review it. A quick meeting can give you peace of mind, ensuring your plan still reflects your wishes and protects the people who matter most.

If you need help reviewing or updating your estate plan, Wilson Law is here for you. Call our office at 866.603.5976 or fill out our online form, and we will reach out to schedule an appointment at your convenience.