How often should an estate plan be reviewed?

Every three years as a baseline, and immediately after any major life, financial, or legal change. Documents rarely fail because they were drafted badly; they fail because they were never updated.

Do I need a new plan if I move to another state?

Usually a review rather than a rebuild. Execution formalities, spousal rights, healthcare directive forms, and state estate or inheritance tax exposure all differ — moving between New Jersey, New York, and Ohio changes the tax picture materially.

Does a change in the estate tax exemption require action?

It can. Formula clauses tied to the exemption can allocate very differently when the number moves, so plans drafted under an older exemption should be re-read against the current one.

What should be reviewed after a divorce?

Everything: will and trust terms, beneficiary designations, powers of attorney, healthcare agents, and any life insurance ordered by decree. Divorce judgments do not update account forms.

Is a review just paperwork, or does something usually change?

In practice most reviews surface at least one real defect — an unfunded asset, a stale designation, or a fiduciary who is no longer the right choice.

← Legacy JournalEstate Planning · Reviews

Nine Events That Should Trigger an Estate Plan Review

Plans do not fail because they were drafted badly. They fail because life moved and the documents did not.

April 10, 20268 min readBy Drew Jacobs, Esq.

The short answer

Review your estate plan whenever your family, your money, or the law changes. The nine events that should always trigger a review: marriage, divorce, a birth or adoption, a death among your beneficiaries or fiduciaries, a move to another state, a business sale or liquidity event, buying real estate in another state, a significant change in net worth, and any change in federal or state estate tax law. Absent those, review every three years.

Most defective estate plans were correct the day they were signed. What changed was the family, the balance sheet, the state of residence, or the law. A plan is a snapshot; these are the nine events that make the snapshot stale.

1. Marriage, divorce, or remarriage

Marriage creates spousal rights that can override outdated documents. Divorce does not automatically update retirement or insurance beneficiary designations. Remarriage with children from a prior relationship is the single most common source of estate disputes, and it usually calls for a structure that provides for a spouse while preserving principal for children rather than relying on goodwill.

2. A birth, or a child reaching adulthood

New children need to be included, guardians named, and shares structured. Children who become adults may no longer need a staged trust — or, if there is a creditor, addiction, or divorce risk, may need one more than ever.

3. A material change in net worth

A liquidity event, an inheritance, a large equity grant, or a real estate appreciation cycle can push an estate from comfortably under a tax threshold to over one. New York's estate tax cliff in particular punishes a modest overage severely, and the federal exclusion is a moving figure that should not be treated as fixed.

4. Moving to another state

Documents generally travel, but the tax and administrative treatment does not. New Jersey imposes an inheritance tax based on who inherits. New York imposes an estate tax with a cliff. Ohio imposes neither but supervises probate more closely. Moving among them, or acquiring property in one while living in another, changes the plan's arithmetic — and multi-state real property is the classic trigger for a funded trust.

5. Buying real property — especially out of state

Property in a second state usually means a second probate proceeding unless it is titled into a trust or an appropriate entity. New York cooperatives add board consent to the transfer, which no court can accelerate.

6. Starting, selling, or restructuring a business

Operating agreements, buy-sell provisions, and transfer restrictions must agree with the estate plan. A trust that cannot legally receive an interest, or a buy-sell with no funding, produces a forced sale at the worst possible time. Pre-exit is also when the most valuable planning windows are open, which we cover in planning before an exit.

7. Death, illness, or falling-out involving a named fiduciary

Executors, trustees, guardians, and agents under powers of attorney all need to be currently willing, currently able, and currently on speaking terms with your family. Confirm your bench every few years.

8. A change in a beneficiary's circumstances

Disability, means-tested benefits, creditor pressure, divorce, or a substance issue each argue for protective structure rather than outright distribution. Timing matters — planning done after a claim arises is far weaker than planning done before.

9. A change in the law

Transfer tax exclusions, retirement account distribution rules, and state thresholds all move. Some planning is only available in a specific window, and options narrow with age, health, and asset concentration.

A sane maintenance rhythm

Every year: confirm beneficiary designations, including any account created by a job change or rollover.
Every three years: review fiduciaries and trust funding status.
On any trigger above: review immediately rather than at the next anniversary.

We review existing plans on a fixed fee, whoever drafted them. Prior results do not guarantee a similar outcome, and no review can promise a particular tax result — but most reviews surface at least one fixable defect, and unfunded trusts and stale designations lead the list.

Questions we hear most

How often should an estate plan be reviewed?: Every three years as a baseline, and immediately after any major life, financial, or legal change. Documents rarely fail because they were drafted badly; they fail because they were never updated.
Do I need a new plan if I move to another state?: Usually a review rather than a rebuild. Execution formalities, spousal rights, healthcare directive forms, and state estate or inheritance tax exposure all differ — moving between New Jersey, New York, and Ohio changes the tax picture materially.
Does a change in the estate tax exemption require action?: It can. Formula clauses tied to the exemption can allocate very differently when the number moves, so plans drafted under an older exemption should be re-read against the current one.
What should be reviewed after a divorce?: Everything: will and trust terms, beneficiary designations, powers of attorney, healthcare agents, and any life insurance ordered by decree. Divorce judgments do not update account forms.
Is a review just paperwork, or does something usually change?: In practice most reviews surface at least one real defect — an unfunded asset, a stale designation, or a fiduciary who is no longer the right choice.

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