How Often Should You Update Your Estate Plan?

Estate planning isn’t just about drafting legal documents—it’s about making sure your loved ones are protected and your wishes are carried out. Life is always changing, and your estate plan should keep up. 

At Jackman Law Firm, we’ve been helping families make informed decisions about their futures since 2014. We understand how important it is to have a plan that works when you need it most. That’s why we emphasize not just creating an estate plan but keeping it updated as life evolves.

Why Regular Estate Plan Reviews Are Important

An outdated estate plan can create complications, confusion, and even disputes among family members. It’s not something you set up once and forget about. Your estate plan should change as your life does. Here are some of the biggest reasons to review and update your plan:

Life Events That Call for an Update

• Marriage, Divorce, or the Death of a Spouse – A change in marital status can have a huge impact on how your assets are handled. Whether you have a new spouse or are adjusting after a divorce, your estate plan should reflect your current relationship.
• Birth or Adoption of a Child or Grandchild – Welcoming a new family member often means adjusting beneficiaries, guardianship designations, and financial plans to ensure their future is secure.
• Changes in Your Financial Situation – A significant increase or decrease in wealth, whether from a business sale, inheritance, or financial loss, can require updates to trusts, tax strategies, and asset distribution.
• Relocation to a Different State – Every state has its own estate planning laws, including tax rules and probate requirements. If you’ve moved, your existing plan may need adjustments to comply with local regulations.
• Changes in Laws – Estate planning laws at both the state and federal levels can change over time. Tax laws, inheritance rules, and legal protections may impact your existing plan, making periodic reviews essential.
• Health Issues or Medical Diagnoses – If you or a loved one experiences a major health change, updating your plan can help ensure proper care, power of attorney, and medical directives are in place.
• Career Changes – If you’ve started or closed a business, received a promotion, or experienced a career shift, it may be time to revisit your estate plan to account for these financial changes.

Even if none of these major life events occur, reviewing your estate plan every 3-5 years is a good rule of thumb. For older individuals or families with complex assets, annual reviews may be best.

How Often Should You Update Your Estate Plan?

There’s no universal answer, but most estate planning attorneys recommend a review at least every 3-5 years. For individuals with larger estates, businesses, or significant financial assets, more frequent updates may be needed.

If you’re unsure whether your estate plan needs an update, ask yourself these questions:

• Have there been any major life changes since I last reviewed my estate plan?
• Are my named beneficiaries still the right choices?
• Are my financial and medical power of attorney designations still appropriate?
• Have estate planning laws changed in a way that could affect my plan?
• Do I own new assets that should be included?

A periodic check-in with an estate planning attorney can help ensure your plan still fits your needs and meets all legal requirements.

Washington State Considerations

If you live in Washington, there are some unique factors that may impact how often you should update your estate plan.

State Estate Tax

Washington has its own estate tax, separate from the federal tax. The exemption amount is lower than the federal threshold, meaning more estates could be affected. If your estate’s value is close to or exceeds the state exemption limit, reviewing your plan is critical to minimize potential tax burdens.

Community Property Laws

As a community property state, Washington treats assets acquired during marriage differently than separate property. This can impact how property is distributed after death. An estate plan should clearly distinguish community and separate property to prevent unintended consequences.

Recent Legislative Changes

Estate planning laws in Washington can change, affecting everything from probate rules to beneficiary rights. Staying informed about legislative updates ensures your estate plan remains compliant and effective. Recent laws, such as adjustments in adult family home regulations, highlight the importance of regular legal check-ins.

What Happens During an Estate Plan Review?

Updating your estate plan isn’t a lengthy or complicated process, but it does involve a few key steps:

1. Reviewing Key Documents – This includes your will, trusts, power of attorney, healthcare directives, and any business succession plans.
2. Assessing Beneficiary Designations – Ensuring that all listed beneficiaries still reflect your wishes and that they align with your current family and financial situation.
3. Checking for Legal Updates – An attorney will verify whether any changes in laws (state or federal) affect your plan.
4. Discussing New Assets or Debts – If you’ve acquired or sold property, started a business, or taken on new financial obligations, your estate plan may need to be adjusted accordingly.
5. Confirming Executor and Power of Attorney Choices – The people you’ve chosen for these roles should still be the best fit for carrying out your wishes.

Don’t Wait Until It’s Too Late

A well-maintained estate plan provides security for your loved ones. When estate plans are left outdated, families can face unnecessary delays, legal battles, and unexpected tax burdens. Taking time now to ensure your plan is current can prevent stress and complications down the road.

If you’re unsure whether it’s time for a review, ask yourself: If something happened to me today, would my estate plan still reflect my wishes and protect my family? If the answer is no, it’s time to schedule a review.

Securing Your Family’s Future: Contact Jackman Law Firm Today

At Jackman Law Firm, we’ve been helping Washington families create and update their estate plans since 2014. Our team understands the importance of making sure your wishes are honored and your loved ones are cared for.

Whether you’re updating an existing plan or starting from scratch, we’re here to guide you through the process and ensure everything is in place. Call us today at 206-558-5555 or visit our Contact page to schedule a consultation. Let’s work together to make sure your estate plan is ready for whatever the future holds.