Creating a will is a major milestone in protecting your loved ones and ensuring your wishes are honored—but writing it once and forgetting about it isn't enough.
Think of your will not as a one-time task, but as a living document that should grow and change along with your life. If it's been a few years since you last looked at it, or if you’ve experienced a major life event, now is a great time to revisit it.
Wills Need Maintenance, Too
It’s common to assume that once you’ve drafted a will, your job is done. But life rarely stays the same for long. Relationships evolve, assets shift, and family dynamics change. Failing to update your will can lead to confusion, disputes, and unintended consequences.
As a general rule, your will should be reviewed every 3 to 5 years, and any time you experience a significant life event.
Key Life Events That Should Trigger a Review
Here are some of the major life events that may require changes to your will:
- Marriage or remarriage
- You may want to include your new spouse or adjust beneficiary designations.
- Divorce or separation
- You likely want to remove an ex-spouse or update guardianship and inheritance plans.
- Birth or adoption of children or grandchildren
- You’ll want to ensure new family members are included and protected.
- Death of a loved one
- If someone named in your will has passed away, your instructions may need to be updated.
- Significant changes in financial situation
- New assets, businesses, or property might need to be accounted for in your estate plan.
- Relocation to a different state
- State laws governing wills and estate planning can vary, so your will may need legal adjustments.
What Happens If You Don’t Update?
An outdated will can cause stress and uncertainty for your family—and may even result in your assets being distributed in a way you never intended. Without updated instructions, courts may intervene, which could lead to costly legal battles and delays.
Don’t Let It Linger
Updating your will doesn’t have to be a complicated process. A conversation with your estate attorney or financial advisor can help ensure your wishes are clearly stated and legally enforceable. It’s a small effort that offers peace of mind for you and clarity for your loved ones.
Bottom line: Your will is meant to reflect your life—not the way things looked five or ten years ago. Review it every few years or after any major life event to keep your plans current and your intentions clear.
Steffens Financial Corp. does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.
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