October is National Estate Planning Month—a perfect reminder to revisit and refresh your estate plan. If you're like many, you may have crafted yours several years ago, thinking it was a once-and-done deal. While that was a savvy decision at the time, life doesn't stand still. An outdated estate plan can create complications or miss the mark in reflecting your true wishes.
Here are seven reasons why now is a great time to give your estate plan a thorough review:
1. Beneficiaries
Have your personal relationships or priorities changed since you last reviewed your estate plan? It's important to make sure your named beneficiaries align with your current intentions and circumstances.
Remember that your will is only part of the picture. Life insurance, retirement accounts, and annuities usually pass to whoever is named on the account's beneficiary form, not to the people named in your will. Pull the most recent beneficiary confirmation for each account and read the names on it.
2. Moving to a New State
Moving to a new state? Different states have different legal requirements and regulations that can affect your estate plan. It’s vital to ensure your plan is compliant with local laws.
This comes up often for families who live in Pennsylvania and New Jersey, or who own a home in each. The two states tax inheritances differently, and powers of attorney and health care documents are written to each state's statutes. If you have moved, or bought property across the river, bring that up at your review.
3. Major Life Events
Significant life changes, such as marriage, divorce, childbirth, adoption, or the loss of a loved one, are critical triggers to update your estate plan.
Pennsylvania law changes some older wills automatically, but not always the way you would choose. Under 20 Pa.C.S. § 2507, a provision for a spouse becomes ineffective after a divorce, or if you die during divorce proceedings once grounds have been established, unless the will shows it was meant to survive the divorce. If you marry after signing your will, your new spouse receives the share they would have taken without a will, unless the will gives them more or was made in contemplation of the marriage. A child born or adopted after the will was signed, and not provided for in it, generally receives a share as well unless the omission appears intentional.
Divorce has a similar effect on many beneficiary designations. Under 20 Pa.C.S. § 6111.2, a designation of a spouse on a life insurance policy, annuity, or pension or profit-sharing plan is generally treated as if the former spouse had died first, unless the designation, a court order, or a written agreement shows otherwise. The same section also says the insurance company or plan is not liable for paying the former spouse if no court order stopped it. A statute that fixes things after the fact is no substitute for a current form, so update the designation yourself.
4. Health Issues
Changes in health for you or those close to you might necessitate updates to healthcare directives or power of attorney arrangements.
Look at who you named, not just whether the documents exist. An agent who has moved far away, become ill, or no longer gets along with the rest of the family may not be the right person to make financial or medical decisions for you today.
5. Financial Changes
A new job, a significant promotion, purchasing new real estate, or starting a business should prompt you to take a fresh look at your estate planning documents.
6. Tax Law Updates
Changes in state or federal tax laws can introduce new obligations or create fresh opportunities for your estate planning strategies.
The federal rules changed recently. According to the IRS, the law signed on July 4, 2025 (Public Law 119-21) raised the federal estate and gift tax basic exclusion amount to $15,000,000 for 2026, up from $13,990,000 for 2025. If your plan was written around an older exclusion amount, or uses formula language tied to it, it may deserve a second look.
Pennsylvania's inheritance tax works differently. It applies no matter how large the estate is, and the rate depends on who inherits: according to the Pennsylvania Department of Revenue, 0 percent on transfers to a surviving spouse, 4.5 percent to direct descendants and lineal heirs, 12 percent to siblings, and 15 percent to most other heirs. Who you name, and how assets are titled, can change what your family owes.
7. Regular Reviews
Even if no major life events have occurred, it is prudent to review your estate plan every 3 to 5 years to ensure it remains accurate and relevant.
Updating your estate plan doesn’t have to be an overwhelming task. The peace of mind and clarity you’ll gain from knowing your plan reflects your current wishes is worth the endeavor. This month, take the opportunity to schedule a consultation with a professional or start reviewing your documents on your own.
This article is general information about Pennsylvania law, not legal advice. Laws and tax amounts change, and the right update depends on your own family and assets.
