5 Signs It's Time to Update Your Ohio Estate Plan

Why Estate Plans Go Stale

Most people treat estate planning as a one-time task: they sign a will, name some beneficiaries, and consider it done. But an estate plan is a living document—one that should reflect your current life, relationships, assets, and wishes. When life changes and your plan doesn't, the people you love most can face unintended consequences.

Here are five situations that should prompt you to pull out your documents and schedule a review with an Ohio estate planning attorney.

1. A Major Life Event Has Occurred

Marriage, divorce, the birth of a child or grandchild, the death of a named beneficiary or executor—each of these events can make your existing estate plan incomplete or, worse, counterproductive.

Ohio law does not automatically update your will when your family situation changes. If your will names an ex-spouse as a primary beneficiary and you haven't updated it since your divorce, Ohio's revocation-on-divorce statute may revoke that bequest—but it won't fill in what should happen to that share instead. And if you've had children since signing your will, you'll want to confirm they're properly provided for and that you've named a guardian.

2. Your Assets Have Changed Significantly

Estate plans are built around the assets you have at the time you sign them. If you've purchased real estate, started a business, inherited money, or accumulated significant retirement accounts since your last review, your plan may not address how those assets pass at your death.

Retirement accounts and life insurance pass outside of your will through beneficiary designations—so updating your will doesn't automatically update those designations. A comprehensive estate plan review looks at your entire asset picture, not just the documents themselves.

3. Your Executor, Trustee, or Power of Attorney Agent Is No Longer the Right Choice

The people you name to carry out your wishes matter just as much as the wishes themselves. If your named executor has died, moved out of state, or become someone you no longer trust with the responsibility, your documents should reflect that.

The same applies to your durable power of attorney—the person who can manage your financial affairs if you become incapacitated—and your healthcare power of attorney, the person who can make medical decisions on your behalf. If those relationships have changed, your designations should too.

4. Ohio Law Has Changed

Ohio estate planning law is not static. Changes to the Ohio Revised Code, federal estate tax thresholds, or Medicaid rules can affect whether your existing plan works the way you intend. A document that complied with the law when it was signed may not take full advantage of planning opportunities that exist today.

If you've moved to Ohio from another state, your existing will is generally still valid—but it may not have been drafted with Ohio-specific requirements in mind, and it's worth having an Ohio attorney confirm it will work as expected here.

5. It's Been More Than Three to Five Years Since You Last Reviewed It

Even if nothing dramatic has changed in your life, estate plans benefit from periodic review. A document that was well-crafted five years ago may no longer reflect your wishes, may reference accounts or assets that no longer exist, or may rely on people who are no longer available to serve in the roles you named for them.

A review doesn't necessarily mean rewriting everything from scratch. Often a straightforward amendment—called a codicil for a will, or an amendment for a trust—is sufficient to bring your plan current.

Getting Started

If any of these situations apply to you, the right move is a review with an Ohio estate planning attorney before the issue becomes urgent. Estate plans put in place during a crisis are often more rushed and less tailored than those created with care and time.

At McEndree Law LLC, Jeffrey A. McEndree II works directly with Ohio families to review, update, and create estate plans that fit their circumstances. If it's been a while since you looked at yours—or if you don't have one yet—contact McEndree Law to schedule a consultation.