Is it Time to Update Your Estate Plan? Key Life Changes that Should Trigger a Review

Guidance from a Birmingham, Alabama estate planning law firm.

Like other important parts of life, your estate plan needs regular attention and updates. Over time, your goals, finances, and family situation can change—and your documents should change with them.

At Provident Law, we recommend reviewing your estate plan every three to five years or sooner if you experience a major life event. Think of it as your estate plan’s preventive check-up. Just as you would not skip a medical exam, it is wise not to let your estate plan sit untouched for years.

However, routine reviews are not the only time to revisit your plan. Certain life events—some joyful, others challenging—make it especially important to ensure that your estate plan still reflects your wishes.

Marriage

Marriage changes more than your name—it changes your financial life. Soon after your marriage, you should review your will or trust, powers of attorney, and beneficiary designations on bank accounts, investment accounts, retirement accounts and life insurance policies.

This is especially important in a second marriage, where children from previous relationships are involved. Reviewing and updating your plan ensures your spouse and children are protected exactly as you intend.

Birth or Adoption

Welcoming a child expands your heart—and your responsibilities. Your estate plan should name a guardian to care for your child if something happens to you and clearly outline how you would like to provide for their future after your passing.

You can create or adjust trusts to manage your child’s inheritance in a way that reflects your values and priorities. Rather than receiving everything at once when they turn 18 (in Florida) or 19 (in Alabama), you can set ages or milestones—such as graduating from college or reaching a certain age—to determine when and how they will receive their inheritance. This planning ensures your child’s financial future is protected and managed according to your wishes if you are no longer here.

New Job or Career Change

A new job often means new benefits and retirement accounts, which come with new beneficiary forms. It is easy to overlook these, but an incorrect designation can disrupt your entire plan.

You should also review your plan if your income has significantly increased or decreased.

Retirement

Retirement is a milestone worth celebrating—but it is also a time for review. As you transition from earning income to using your retirement assets, it is crucial to confirm that your estate plan supports your new financial goals and your lifestyle changes, such as increased travel or relocation.

Moving to a New State

Estate planning laws vary by state, so if you have moved, it is essential to review your documents with a local estate planning attorney to ensure they are effective under your new state’s laws.

If you are new to Alabama or Florida, we can review your existing plan to ensure it complies with state-specific requirements. We can also make sure your new home is properly titled—especially if your plan includes a revocable living trust—so that your estate plan continues to work as intended.

Divorce

Divorce can be an emotionally and financially complex time. Once your divorce is finalized, you should review and revise your will, trust, and beneficiary designations. You may also want to update your power of attorney and advance directive for health care so that your former spouse no longer has legal authority over your financial or medical decisions.

If your marital agreement includes life insurance or support obligations, we can help ensure those requirements are integrated into your estate plan.

Death of a Loved One

After losing a loved one, it is important to revisit your plan when you are ready. If your loved one was listed as a beneficiary or trusted decision-maker (like an executor, trustee, or power of attorney), those roles will need to be reassigned.

We will guide you through the updates with care and sensitivity.

Receiving an Inheritance

Inheriting assets can significantly impact your financial picture—and your estate plan. You may need to retitle property, update beneficiaries, or consider asset protection strategies to preserve your inheritance for future generations.

Your Next Step

Life does not stand still—and neither should your estate plan. Whether you are celebrating a milestone or navigating a transition, we are here to help you keep your plan current, effective, and tailored to your goals.

Even if you have not had any major life changes recently, it is wise to schedule a review every three to five years.

Call Provident Law today to schedule a consultation and ensure your loved ones are protected—no matter what life brings.

About the Author

Colin McMichen is an experienced attorney and the founder of Provident Law / Estate Planning LLC, a Birmingham, Alabama-based firm. With a focus on estate planning and probate law, Colin is dedicated to helping individuals and families navigate complex legal matters with confidence.