Make Updating Your Estate Plan a New Year’s Resolution

New Year’s resolutions usually focus on health, finances, and habits. But one of the most meaningful goals you can set is making sure your estate plan reflects your life today—not five or ten years ago.

 

Even if you already have a will or trust, it may be outdated without you realizing it. Laws change, families change, and financial situations change. Updating your plan is a practical way to start the year with peace of mind.

 

Why Estate Plans Need Regular Updates

An estate plan is not “one and done.” It’s a living set of documents that should evolve with you. If your plan is old, it may:

• Leave assets to the wrong people

• Fail to protect minor children or vulnerable beneficiaries

• Cause unnecessary probate issues or delays

• Create confusion or conflict for your loved ones

Life Changes That Should Trigger a Review

Consider updating your plan if any of these happened recently:

• Marriage or divorce

• A child is born or adopted

• A beneficiary passes away

• A major change in finances (new home, inheritance, business, retirement)

• Moving to or from South Carolina

• Your chosen executor/trustee is no longer a good fit

• Changes in relationships (estrangement, remarriage, blended family concerns)

• A health change or diagnosis that affects long-term planning

“I Have a Will” Isn’t Always Enough

A will is important—but depending on your goals, it may not be the best tool by itself. A New Year’s review is also a good time to consider whether you need:

• A revocable living trust

• Updated powers of attorney

• A health care directive/living will

• Beneficiary designation updates (retirement accounts, life insurance)

Quick Estate Plan Checklist for the New Year

Here are a few questions to ask yourself:

1. Do my documents still match my current family situation?

2. Are my beneficiaries still the people I want to inherit?

3. Are my personal representative, trustee, and agents still reliable choices?

4. Do I have incapacity planning (financial + medical)?

5. Do my asset titles and beneficiary forms match my plan?

6. Have I reviewed my plan in the last 3–5 years?

The Hidden Risk: Beneficiary Forms and Account Titles

Many people update a will but forget to update:

• Retirement accounts (401(k), IRA)

• Life insurance beneficiaries

• Payable-on-death or transfer-on-death accounts

• Bank accounts and jointly titled property

Those designations can override your will. A review ensures the whole plan works together.

 

Start the Year With a Plan You Can Trust

Updating your estate plan isn’t about expecting the worst. It’s about taking care of the people you love and making things easier for them if something happens.

 

Make it your simplest resolution: Schedule an estate plan review with the Law Office of Israel Stone. We’ll help you confirm what still works, fix what doesn’t, and move forward with confidence under South Carolina law.