Estate planning is not a “one-and-done” process. Life is constantly evolving, and so should your plan. Whether it’s marriage, divorce, the birth of a child, buying a new home, or caring for a loved one with a disability, keeping your estate plan updated ensures your wishes are honored and your family is financially protected.
This guide explains why you should update your estate plan after major life changes, the risks of neglecting it, and the tools available to protect loved ones—including family members with disabilities.
An estate plan typically includes:
A Will (instructions for distributing assets after death).
Trusts (revocable or irrevocable to manage and protect assets).
Power of Attorney (naming someone to manage financial matters).
Health Care Proxy & Living Will (appointing a medical decision-maker and outlining treatment preferences).
Beneficiary designations for retirement accounts, life insurance, and bank accounts.
These documents only reflect the circumstances of your life at the time you created them. If you don’t update them, the law may end up dictating who inherits your assets or makes decisions for you—sometimes with unintended consequences.
If you get married, your spouse may automatically gain certain inheritance rights under New York law—but your will and beneficiary designations might still list parents, siblings, or even an ex-partner. Updating ensures your spouse is properly included.
Divorce often requires removing an ex-spouse as a beneficiary, executor, or trustee. Failing to update your plan could mean your ex remains legally in control of your finances or medical care.
Adding a new family member means naming guardians, setting up a trust for minors, and adjusting inheritance distributions. Without updates, children may not be fully protected.
If a spouse, child, or executor passes away, your estate plan may no longer be valid as written. Updating ensures there are backups in place.
Buying property, starting or selling a business, or receiving an inheritance all require updates. Trusts may need to be funded, and tax strategies reconsidered.
Estate laws differ by state. If you move to or from New York, your documents may not comply with local laws and should be reviewed.
This is one of the most important triggers for updating your estate plan. Leaving assets outright to someone with special needs can disqualify them from critical benefits like SSI and Medicaid. The right legal structures—like a Special Needs Trust—are essential.
If you have a child, sibling, or other family member with a disability, your estate plan should be carefully designed to provide support while preserving eligibility for government benefits.
In New York, Supplemental Needs Trusts (SNTs) are recognized by law as a way to provide for a disabled individual without jeopardizing their Medicaid or SSI eligibility.
First-Party SNTs – Created with the disabled person’s own assets, such as lawsuit proceeds or an inheritance.
Third-Party SNTs – Funded by family members (parents, grandparents, siblings) as part of their estate plan.
These trusts can cover expenses that enhance quality of life—like therapies, education, travel, and recreation—that government programs don’t pay for.
An outdated estate plan can lead to:
Assets going to the wrong people (like an ex-spouse or estranged relative).
Family conflict due to unclear instructions.
Loss of government benefits if money is left directly to a disabled loved one.
Court involvement to determine guardianship or probate disputes.
Tax burdens that could have been avoided.
In short, failing to update your estate plan can undo years of careful planning.
Attorneys recommend reviewing your estate plan:
Every 3–5 years as a best practice.
Immediately after any major life change.
Even minor updates—such as changing a beneficiary designation—can make a huge difference in avoiding problems later.
Your estate plan should reflect your life as it is today—not as it was five or ten years ago. Marriage, divorce, children, financial changes, and caring for a disabled loved one are all powerful reasons to revisit your plan.
By keeping your estate plan updated, you ensure that your wishes are honored, your assets are protected, and your family is cared for—no matter what the future brings.
At Hynes & Chu Law LLP, we specialize in estate planning, elder law, and asset protection — providing personalized legal solutions with care, integrity, and experience.
