Three life events should always trigger an estate plan review.
Many Americans mistakenly believe estate planning is a single event.
Although common, this framework can be costly.
Failing to adjust your estate planning documents accordingly may leave loved ones unprotected and assets in the hands of the wrong people.
According to a recent Kiplinger article titled “3 Life Events That Should Trigger an Immediate Estate Plan Review,” there are a few situations where reviewing and updating an estate plan will be crucial.
These include births, divorces, and remarriages.
When a new child or grandchild enters the family, this bundle of joy must be provided for and protected.
Language in old estate planning documents may not automatically cover natural heirs.
When a new child is born, parents should prioritize naming a guardian for their little one in case something were to happen to both parents.
Without an estate plan review and update, this child could have his or her backup parents selected by a probate judge.
Yikes!
When minor children are heirs, a current estate plan should address when and how inheritances are received because minors cannot inherit outright.
Using a trust with a trustee to manage funds on behalf of the children until they reach the age of majority tends to be a wise estate planning strategy.
A divorce decree assesses and divides marital property.
The decree itself will not update all your legal documents and individual accounts.
Doing so is the responsibility of each party.
Unless you update beneficiary forms on assets like bank accounts, life insurance policies, and retirement accounts, the original person named to receive these will inherit when you die regardless of the terms of your last will and testatement.
In short, your ex-spouse could end up with even the assets you were granted in the divorce.
Incapacity planning documents should also be included in an estate plan review.
If your health care directive and power of attorney still have your ex-spouse named as the designated agent, he or she would legally have control over your medical care and money when you are most vulnerable.
Remarriage should initiate an estate plan review to protect and provide for all loved ones.
When a remarriage involves blending families, these stakes are even higher.
Why?
The chances of accidental disinheritance are likely without thoughtful planning.
If you leave all assets outright to the new spouse, children from your previous marriage could be left without any provisions.
How might this happen?
Your new spouse could die without an estate plan, and the intestacy laws could leave your children with nothing, or your new spouse could intentionally leave your children out of his or her estate plan.
If you leave your new spouse with nothing, these loved ones could find themselves struggling under sudden financial hardship.
What are solutions to these issues?
Blended families tend to benefit from the use of a well-structured trust where a surviving spouse is provided for during his or her lifetime and remaining assets are funneled to your children.
Life transitions can be quick.
It is important not to delay after these life changes so your estate plan will not be outdated should a crisis strike.
Having an estate plan review with an experienced estate planning attorney after a major life change or every few years to account for changes in laws will help prevent you from having ineffective documents.
An estate plan may need to be reviewed and updated during your lifetime.
Common estate plan review triggers include births, divorces, or remarriages.
Because failing to update your plan can have detrimental outcomes for you and your loved ones, you should act quickly to review your plan after major life changes.
If you have had a birth, death, or remarriage in your family, you can request a consultation with Harvest Law KC.
This post is for informational purposes only and does not provide legal advice. You should consult an attorney for advice on any specific issue or problem. Nothing herein creates an attorney-client relationship between Harvest Law KC and the reader.
Reference: Kiplinger (June 18, 2026) “3 Life Events That Should Trigger an Immediate Estate Plan Review”
REMEMBER: “The choice of a lawyer is an important decision and should not be based solely upon advertisements.”
This statement is required by rule of the Supreme Court of Missouri.
