What Happens If You Don’t Update Your Estate Plan?

It’s a common misconception that once you’ve signed your estate planning documents, your job is done. While having a plan in place is a great first step, letting it sit untouched for years can lead to unintended — and sometimes devastating — consequences.

Laws change, families change, and so do your goals. If your estate plan doesn’t evolve with you, it may not work the way you intended when it matters most.

Outdated Plans Can Create Real Problems

Let’s look at five of the most common issues we see when estate plans aren’t reviewed and updated regularly:

1. Your Beneficiaries May Be Wrong

Life changes quickly. Children grow up, family dynamics shift, and relationships evolve. If your plan names people who are no longer part of your life — like an ex-spouse, a deceased relative, or even a child you’ve become estranged from — your assets could end up in the wrong hands.

🟢 Real-life example: A client forgot to remove her ex-husband as the beneficiary of her life insurance policy. When she passed, he got the payout — and her children were left with nothing.

2. The People in Charge May No Longer Be the Right Choice

You may have named someone you trusted years ago to serve as your personal representative (executor), trustee, or power of attorney. But are they still willing, available, and capable of serving in that role?

They may have moved, aged, or passed away.
They might no longer be the best fit for family dynamics.
They may not be in a position to act when needed — especially in emergencies.

🟢 Pro tip: Review your list of fiduciaries every few years and after any major life changes.

3. Your Plan Might Not Follow Current Laws

Laws governing estate taxes, probate procedures, powers of attorney, and health care directives are constantly evolving. What was a solid plan five or ten years ago might not comply with today’s laws — especially if you’ve moved to a different state.

Certain powers of attorney may not be accepted by banks if outdated
Older trusts may not be optimized for current tax treatment
Healthcare directives might lack required language or forms
Words or forms may have changed or need certain clauses to comply with new standards

4. Your Assets Have Changed — but Your Plan Hasn’t

Over time, your financial situation may improve, shrink, or simply shift. You might buy a new home, start a business, sell a property, or open new investment accounts. If your estate plan doesn’t account for these changes, it might leave out key assets — or accidentally trigger unnecessary taxes or court involvement.

🟢 Tip: Keep your asset list updated and share major acquisitions or changes with your attorney.

5. Missed Opportunities for Protection or Planning

Modern estate plans do more than say who gets what — they can also:

Protect heirs from creditors or divorce
Provide for special needs family members
Minimize taxes and avoid probate
Set guidelines for your healthcare and finances if you’re incapacitated

If your plan hasn’t been reviewed in years, you may be missing out on legal tools or protections that didn’t exist — or that you didn’t need — when you first created your plan.

Estate Planning Is Not a One-Time Event

Think of your estate plan like a living document — one that should grow and change with you. At a minimum, review your plan every 3–5 years, and always after major life events like marriage, divorce, the birth of a child or grandchild, retirement, or a major financial shift.

Peace of Mind Starts with Being Proactive

Updating your estate plan doesn’t have to be complicated, but it does need to be intentional. By staying on top of it, you ensure your wishes are honored, your loved ones are protected, and your legacy is preserved — no matter what life throws your way. Contact us today at 989-872-5601 to schedule a free review of your Estate Plan by mentioning you read this blog.