How Often Should I Update My Estate Plan?

 Posted on May 14, 2025 in Estate Planning / Probate

An estate plan is more than a set of documents—it is your voice, your wishes, and your legacy. Since life does not stand still, neither should your estate plan. Marriages, births, financial shifts, and other life changes can all impact how your plan functions when it matters most. Regular updates are vital to making sure your plan works for you, not against you. A DuPage County, IL estate planning attorney can help you review and update your plan so that it remains clear, compliant, and effective.

Why Is It Important to Regularly Review Your Estate Plan?

Estate plans should adapt as your personal, financial, and legal situations change. If you do not update your plan, outdated information could create confusion, delay the distribution of your assets, or even invalidate parts of the plan. In Illinois, estate administration is governed by the Probate Act, which sets the rules for distributing assets if no valid or clear plan exists. 

Regular reviews of your estate plan help ensure it complies with current laws and clearly expresses your wishes. Even if you have not experienced a significant life change, it is recommended that you review your estate plan every three to five years.

What Life Changes Should Trigger an Update?

Certain events in your life should serve as indicators that it is time to revise your estate plan. These may include:

• Divorce, marriage, or remarriage

• Adoption or birth of a child or grandchild

• Death of a spouse, child, or a named beneficiary

• Major changes in your assets or financial status

• A move to another state

• Changes in estate or tax laws

Each of these situations can have a legal impact on how your estate is managed or distributed, so it is important to keep your documents updated. 

What Documents Should You Update?

When revisiting your estate plan, you should review core documents like your will, any trusts, power of attorney documents, and healthcare directives. You should also check the beneficiary designations on your financial accounts, such as life insurance policies and retirement plans, as these often override instructions in a will.

Be sure that the people you have appointed are still the best choices for those roles. You should also confirm that your distribution instructions still reflect your current wishes and that all personal and contact information is accurate.

Can Outdated Plans Create Legal Problems?

An outdated estate plan can cause assets to pass to unintended beneficiaries, increase the risk of family disputes, and even lead to higher taxes or legal fees. In some cases, a vague or no longer valid will may force your estate to be distributed according to Illinois’ default rules.

What Should You Focus On During a Review?

Addressing certain questions with an estate planning attorney can help you make informed decisions about what to update or revise. It is beneficial to focus on key questions such as:

• Do your beneficiary designations match your current intentions?

• Are your chosen representatives still appropriate?

• Has there been any change in laws that could impact your estate?

• Are there new assets or accounts that should be included in your plan?

• Do your healthcare and financial directives reflect your current wishes?

Contact a Kane County, IL Probate Lawyer

Keeping your estate plan current is crucial to protecting your legacy and reducing future burdens for your family. Reviewing your plan now can prevent considerable problems in the future. Contact a Geneva, IL estate planning attorney at DLAW, PC by calling 331-222-7978 to schedule a free consultation.