When to Update Your Estate Plan: 5 Life Events You Shouldn’t Ignore

Life is full of big changes—some exciting, some unexpected—but each one can have a major impact on your estate planning. Whether it’s a shift in family dynamics, finances, or where you live, these events can influence your wishes, legal obligations, and how your assets are ultimately distributed.

If your documents aren’t kept up to date, state law (or outdated instructions) could end up determining what happens to your legacy—often through probate and estate administration processes your family didn’t expect. Below are several key life events that should trigger a closer look at your plan.

Experiencing a Significant Change in Assets

A major change in your financial picture—positive or negative—can affect how your estate plan should be structured.

Examples include:

• Receiving an inheritance or large payout

• Buying or selling real estate

• Starting (or selling) a business

• Experiencing a financial setback

• Acquiring new investment or retirement accounts

A growing estate may make trusts more appealing for control and efficiency, while business ownership can call for added planning around succession and protection. Even smaller changes can impact beneficiary designations, distribution goals, and whether your current wills or trusts still match what you want.

Getting Married or Divorced

Marriage creates new legal and financial ties, which often changes how you want assets distributed. It’s also a common time to update:

• Beneficiaries on accounts and policies

• Who is named in decision-making roles

• How assets flow through a will or trust

Divorce should prompt an immediate review. Without updating your plan, you could unintentionally leave assets to an ex-spouse—or remove someone you still want involved. This is where proactive updates can help avoid conflict, confusion, and delays later in Florida probate.

Becoming a Parent

Welcoming a child is one of life’s most meaningful milestones—and one of the most important times to update your estate plan.

Parents often update their plan to:

• Name guardians for minor children (and alternates)

• Set up financial protections for children through trusts

• Decide when and how children receive assets

• Coordinate planning with advance directives and other incapacity documents

If something happens unexpectedly, a well-written plan can reduce the likelihood of court involvement and help your family avoid urgent guardianship questions during an already stressful time.

Death of a Beneficiary, Trustee, or Executor

If someone named in your estate plan passes away, your instructions may no longer work the way you intended.

This is especially important if the person who died was:

• A primary beneficiary

• Your executor (personal representative)

• A trustee

• Someone you named to help with health care or financial decisions

Updating these roles helps keep your plan workable and reduces the risk of delays during probate or trust administration.

Moving to a New State (or Owning Property in Another State)

Estate planning laws vary widely across the country. A will or trust created elsewhere may not fully align with Florida’s rules—especially around formalities, homestead considerations, or how probate is handled.

If you relocate to Florida, it’s smart to review your plan with a Florida-focused attorney.

And if you own property in more than one state, you may also need to consider ancillary probate —a separate probate proceeding that can apply when real estate is located outside the decedent’s home state. In some cases, trusts and other planning strategies can reduce or avoid that extra layer of administration.

A Good Rule of Thumb: Review Every Few Years (and After Major Changes)

Estate planning isn’t a “set it and forget it” project. Reviewing your plan every few years—or whenever a major life event happens—helps ensure your wishes remain clear, current, and legally protected.

This kind of review often covers more than just a will. It can include trusts, advance directives, and planning for what happens if you become unable to manage your affairs. It can also help your family avoid unnecessary probate complications and keep estate administration smoother.

Local Help in Pinellas County

If you’re navigating any of these changes—or it’s simply been a while since you updated your documents—talking with a St. Petersburg estate planning attorney or Largo estate planning lawyer can bring peace of mind.

De Paz Law focuses on Florida trust and estate matters, including estate planning, probate, guardianship, estate administration, ancillary probate, and even asset recovery for unclaimed property. If you’re looking for a Florida probate lawyer who can guide you through updates (or help your family if probate becomes necessary), getting support sooner can prevent bigger problems later.