When Should You Update Your Will or Trust? Key Life Events to Watch For
Creating a will or trust is one of the most important steps you can take to protect your loved ones and ensure your wishes are carried out. But even the best estate plan isn’t meant to sit untouched for decades.
At Pettis Webber Pacific, we often tell clients that estate planning isn’t a one-time event—it’s an ongoing process. As your life changes, so should your plan. Failing to update your documents could result in unintended consequences, family conflict, or assets ending up in the wrong hands.
Here are some of the key life events and changes that signal it’s time to revisit and update your will, trust, or other estate planning documents.
1. Marriage or Divorce
Marriage usually brings new responsibilities—and new beneficiaries. Likewise, a divorce often requires removing a former spouse from your documents to avoid unwanted inheritance or control.
Why it matters: Washington law may override your intentions if your documents don’t reflect your current marital status.
2. Birth or Adoption of a Child or Grandchild
Adding a new member to your family is a joyful milestone—and a reason to update your estate plan to provide for them.
Update your plan to:
- Include guardianship provisions
- Add new beneficiaries
- Set up trusts to protect young heirs
3. Death or Disability of a Beneficiary or Fiduciary
If someone named in your plan passes away or becomes incapacitated, you’ll need to review your plan, and you may need to update your documents to reflect new choices.
Who this affects:
- Beneficiaries
- Trustees or executors
- Agents under power of attorney
4. Changes in Financial Circumstances
Whether you receive an inheritance, sell a business, or experience significant financial growth or loss, your estate plan should be updated to reflect your current assets.
What to consider:
- Updating asset distribution
- Adjusting tax planning strategies
- Modifying trust structures or funding
5. Relocation to Another State
If you move to or from Washington, your estate plan may need to be updated to comply with different laws on powers of attorney, wills, trusts, probate, and community property.
Tip: Always have your plan reviewed by an attorney licensed in your new state of residence.
6. Retirement
Retirement brings shifts in income, asset management, and future planning. It’s a great time to review your estate plan and long-term care strategy.
Planning questions to ask:
- Are your power of attorney documents still current?
- Do your beneficiary designations match your goals?
- Should you consider a trust to avoid probate?
7. Major Health Diagnosis or Disability
Facing a serious health condition is difficult—but having the right legal protections in place can bring peace of mind.
Make sure you have:
- Up-to-date health care directives
- Financial powers of attorney
- Clear instructions about end-of-life care
8. Changes in Estate Law
State and federal estate tax laws evolve, and so do best practices in estate planning. An outdated plan may no longer achieve what you intended.
Action step: Check in with your estate planning attorney every few years to ensure compliance and optimization.
A Good Rule of Thumb: Review Your Plan Every 3–5 Years
Even if you haven’t experienced a major life event, periodic reviews can catch inconsistencies, outdated information, or missed opportunities.
Your estate plan is a living document. It should reflect your life, your values, and your priorities—as they are now, not just as they were when you first signed it.
Need help reviewing or updating your estate plan? Click here to schedule a consultation with our team.
P.S. Don’t wait for a crisis to find out your estate plan is out of date. A proactive review now can save your family time, money, and heartache later.
P.P.S. Not sure where to start? Ask us about our “Estate Plan Check-Up” service during your appointment!
