A will is a living document. It needs to keep pace with your life, your family, and the law. Most estate planners recommend a quick review every 3 to 5 years and a thorough rewrite when major life events happen. Here's a practical checklist.
Each fundamentally changes who should inherit and who should serve in fiduciary roles. Some states automatically void parts of a will after divorce — but the safer move is to redo the will explicitly.
New children or grandchildren should be added (and provisions made for guardianship). The death of a beneficiary may shift gifts to people you didn't intend, depending on how the will is written.
Buying or selling a home, starting a business, receiving an inheritance, or significant changes in retirement balances can all warrant updates — both for asset distribution and for tax planning.
Wills are governed by state law. A will valid in one state is usually still valid after a move, but rules on community property, spousal share, witness requirements, and probate procedure can differ enough to warrant a new will.
Federal estate tax exemption changes can dramatically affect estate plans, especially for higher-net-worth individuals. Trust language that made sense at one threshold may make less sense at another.
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