Creating an estate plan is a responsible and essential step, but maintaining it is just as critical. Life is rarely static, and significant changes in family circumstances, finances, or legal regulations can make your plan outdated or ineffective. So how often should you update your estate plan? Generally, it is wise to review your documents every three to five years, or immediately after a significant life event.
Estate planning is not limited to the wealthy or the elderly. Whether you are an individual managing personal assets, a family preparing for the future, or a business owner protecting your investments, keeping your estate documents up to date ensures that your intentions are followed and your loved ones are protected. At Reha Goodwin Caras LLP, we work with clients across Colorado to ensure their estate plans remain legally sound and reflect their changing needs.
Your estate plan should reflect your current life, not just the circumstances when you first created it. If key aspects of your personal, family, or financial life have changed, your documents need to be updated accordingly. Otherwise, your plan could distribute assets in ways you no longer intend or name people who are no longer appropriate. Everyday life changes that call for a review include:
If your estate plan was created in another state, it may not comply with Colorado law. Having an estate attorney in Littleton, CO review it can help ensure your documents meet local legal standards.
Even if your personal life remains stable, legal shifts may require you to revisit your plan. Federal and state laws affecting estate taxes, probate, and retirement accounts change over time. For instance, the SECURE Act has impacted how inherited IRAs are managed, introducing new rules and limitations.
Business owners in particular should regularly review their succession plans and business asset protections. If your organization has grown or restructured, your estate planning documents should reflect these changes. To learn more about how our firm supports business and personal planning, visit our practice areas page.
When estate plans are not updated, the results can be costly. Some of the most common issues include:
Even minor oversights can have significant consequences. An estate planning lawyer can help ensure your wishes are clearly documented and legally enforceable.
Aside from life events, reviewing your plan every three to five years is a strong rule of thumb. This gives you a chance to confirm that contact information is current, your chosen decision-makers are still appropriate, and your goals have not shifted.
Many of our clients in Littleton opt to schedule recurring reminders for estate plan reviews. This simple practice helps avoid future disputes and keeps your intentions well-documented. If it has been a while since your last evaluation, contact us today to schedule an appointment.
At Reha Goodwin Caras, we have seen firsthand how updated estate plans lead to positive outcomes. By making timely changes, clients have avoided probate conflicts, preserved generational wealth, and reduced tax exposure. You can read more about these results on our success stories page.
Our firm serves clients throughout Colorado, providing strategic legal support that aligns with family values, business goals, and long-term security.
Although it might seem convenient to make minor edits on your own, a professional legal review is recommended. A qualified estate planning attorney can help confirm that your documents remain enforceable and fully integrated with other components of your plan, such as trusts, healthcare directives, and powers of attorney.
Those with business interests, investment properties, or digital assets should never rely on generic forms or outdated language. These plans require precision, clarity, and legal knowledge to avoid unnecessary risk.
Estate planning is about putting your values into action. It gives you control over what happens to your assets, protects your loved ones from uncertainty, and ensures your legacy is carried out the way you intended. Reha Goodwin Caras works with individuals, families, and business owners throughout Littleton to keep estate plans current and effective. If your plan needs attention, our firm can provide the guidance and review it deserves. Contact us today to take the next step in protecting what you’ve built.
