Creating an estate plan is a meaningful achievement, but signing the documents is not the final step. You must stress test your estate plan to ensure it continues working for you as life evolves and plans change. Families grow, finances shift, laws change, and your goals may look very different from when you first sat down to plan. A strong estate plan should provide clarity, confidence, and long-term protection—but only if it stays current.
To ensure your estate plan still reflects your wishes, ask yourself these important questions. If any give you pause, it may be time to refresh your plan with an experienced estate planning attorney. Stress testing an estate plan ensures that it remains effective.
When Did You Last Update Your Will or Trust?
Most people benefit from reviewing their estate plan every three to five years. If a major life event happened sooner—marriage, divorce, a move, or a significant financial change—it might be crucial to stress test your estate plan because your plan may no longer match your circumstances. Laws also change and an outdated plan may miss modern protections or tax-efficient opportunities.
Are Your Personal Representative (Executor) and Trustee Still the Right Choices?
The people you choose to carry out your wishes must be capable, reliable, and aligned with your values. Over time, someone you named may move away, change careers, become ill, or simply no longer be the best fit. Review each role to ensure every decision-maker can still serve effectively.
Do You Have Enough Life Insurance—and Are Your Beneficiary Designations Updated?
Life insurance can provide essential protection, but only if coverage levels and beneficiaries reflect your current situation. Every policy should name a primary and contingent beneficiary. If you created a trust, your estate planning attorney may have recommended naming the trust as a beneficiary to ensure seamless distribution and long-term protection. Outdated designations can lead to delays, disputes, or unintended outcomes.
Is Anything Jointly Owned With Someone Other Than Your Spouse?
Joint ownership can cause tax issues, expose your property to another person’s creditors, or unintentionally override your estate plan. Review real estate deeds and financial account titles to confirm that ownership aligns with your goals and your state’s laws.
Is Your Recordkeeping Complete and Accessible?
Your loved ones will need access to key information if you become incapacitated or pass away. A clear, organized list of accounts, passwords, legal documents, insurance policies, and professional contacts helps avoid confusion and delays. If this information is scattered or outdated, now is the time to consolidate it. Stress testing your estate plan includes ensuring proper access to records.
Has Your Health—or a Loved One’s Health—Changed?
A new diagnosis or ongoing medical needs may require updates to your healthcare power of attorney, financial power of attorney, living will, or trust instructions. These updates help ensure that your care—and your loved one’s care—matches your wishes and practical needs.
Has Your Financial Situation Shifted?
New investments, real estate, business interests, or a sudden increase (or decrease) in assets should trigger an estate plan review. These changes can affect taxes, inheritances, and your overall distribution plan.
Does Your Plan Cover Your Digital Life?
Digital assets are often overlooked but increasingly valuable. Online financial accounts, cryptocurrency, websites, social media, and cloud-stored photos all need clear instructions and authorized access. Without planning, these assets may be lost or inaccessible.
Has It Been More Than Three to Five Years Since a Legal Review?
Even if nothing major has changed, a periodic review with an estate planning attorney helps catch small issues before they become major problems. Stress test your estate plan regularly to ensure it remains legally sound, tax-efficient, and fully aligned with your goals.
Take the Stress Out of Estate Planning
If any of these questions made you wonder whether your plan is still working, it may be time for a review. An estate plan should give you peace of mind—not uncertainty. Our firm can help you update your documents, strengthen your protections, and ensure your loved ones are cared for exactly as you intend.
Contact us today to schedule a review of your estate plan.
