When Is It Critical to Review Your Estate Plan — and Why It Matters More Than You Think

If you’ve ever gone a few years without visiting your doctor, you know how much can change between check-ups. Your estate plan works the same way. It needs attention — not just once, but throughout your life.

At Freedom Law Services, we encourage Northern Kentucky families to review their plans every three to five years — or sooner when life throws a curveball. Think of it like a preventive check-up for your legacy. You don’t wait for an emergency to start caring for your health, and your family’s future deserves the same kind of ongoing care.

Below are some of the most common life events that should trigger a call to your estate planning attorney.

Marriage or Remarriage

Marriage brings new ways of sharing and managing your financial life. It also changes who depends on you — and who you want to protect. Updating your will, trust, and financial and medical powers of attorney ensures your spouse is properly included.

If this is a second marriage and you have children from a previous relationship, updating your plan is absolutely essential. Without clear direction, Kentucky’s default laws may divide your estate in ways that don’t reflect your wishes. A properly drafted plan protects everyone you love and keeps peace among blended families.

Welcoming a New Child (or Grandchild)

Few things change your outlook on the future like a new baby or adoption. Suddenly, it’s not just about you — it’s about who would care for your child if something happened to you, and how you want them provided for.

We help parents establish guardians for minor children, set up trusts to manage inheritances responsibly, and make sure their wishes are clearly documented. It’s one of the greatest gifts you can give your child: security and clarity.

A New Job — or Job Loss

A job change can bring new benefits, retirement accounts, and insurance — and all of those come with beneficiary designations that must align with your estate plan.

On the flip side, if you’ve lost a job, your financial picture and employer-provided benefits may have changed dramatically. Either way, it’s time to review your plan to make sure your documents still reflect your current reality.

Retirement

You’ve worked hard to reach this milestone — congratulations! Retirement is a wonderful new season, but it also brings major financial and lifestyle changes.

Now that you’re drawing from your accounts instead of contributing to them, it’s smart to review how those accounts are structured and who has access. You might also be traveling more or spending more time away from home — another reason to make sure your financial and medical powers of attorney are current and accessible.

Moving to a New State (or Buying a New Home)

Estate planning laws vary from state to state, and so do real estate recording requirements.

If you’ve moved into or out of Kentucky or Ohio, your will or trust might not meet local standards. We routinely review existing documents for new residents to make sure they comply with Northern Kentucky law.

If you’ve recently bought a new home, we can also make sure it’s titled properly — for example, ensuring it’s held in the name of your trust if that’s part of your plan. This simple step can save your family from probate headaches later.

Divorce

Divorce is a painful process, but updating your estate plan afterward is crucial. You’ll want to remove your former spouse from legal authority roles (like executor, trustee, or health care agent) and update all beneficiary designations.

In some cases, Kentucky law automatically revokes your ex-spouse’s rights in your estate, but that’s not true for everything — especially retirement accounts. Don’t rely on the law to guess your intentions. Let’s make sure your plan matches your new chapter.

Death of a Loved One

The loss of someone close to you can bring both emotional and practical changes. Beyond the grieving process, it’s important to review your own plan to remove the deceased person from any fiduciary roles and determine who should take their place.

You may also need to adjust inheritances, charitable gifts, or other provisions now that family dynamics have changed.

Receiving an Inheritance

An inheritance can be a blessing — and a surprise. But it can also complicate your financial picture.

If you’ve received property, money, or investments, your estate plan should be updated to include those assets and reflect new tax or protection strategies. In some cases, it may even make sense to create or adjust a trust to keep that inheritance safeguarded from creditors or future court involvement.

The Bottom Line: Review Regularly, Not Reactively

Even if none of these life events apply to you right now, reviewing your plan every three to five years is still wise. Laws change. Families grow. Assets evolve. Regular updates ensure your plan continues to do what it was designed for — protect your family and keep them out of court and conflict.

At Freedom Law Services, we make the process simple, thoughtful, and judgment-free. You don’t need to have every answer before you call us — that’s what we’re here for.

Book a free 15-minute Discovery Call with Freedom Law Services today in our Crestview Hills, KY office.

Together, we’ll create a Life & Legacy Plan that protects your time, your money, and — most importantly — your family.

Call us at (859) 344-6742 or visit www.FreedomLawServices.com/call-today to book your discovery call today.

This article is a service of Freedom Law Services. We don’t just draft documents; we ensure you make informed, empowered decisions about life and death for yourself and the people you love. That’s why we offer a Family Wealth Planning Session™. During the session, you will get more financially organized than ever before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this valuable session at no charge.

This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you seek legal advice specific to your needs, such advice services must be obtained independently, separate from this educational material.