Estate planning isn’t something you set up once and never revisit. As this article by Arvest Bank from the Kansas City Business Journal suggests, life shifts constantly. Families grow and change, finances evolve, and tax laws update often, meaning the plan you made years ago may not reflect your current wishes or assets.

Major life events like births, marriages, divorces, or deaths can all reshape your estate plan. Maybe you want to add a new grandchild as a beneficiary, or perhaps you need to remove someone who no longer plays the same role in your life. Even small oversights or outdated language in a will or trust can create confusion later on and potentially spark family disputes.

Your financial picture also changes more often than you may realize. Buying property, selling investments, starting a business, or receiving an inheritance are all moments when your estate plan may need to be revisited. And with federal estate and gift tax exemptions shifting in 2026, a review is now especially important. Under the Tax Cuts and Jobs Act, today’s historically high exemptions were scheduled to drop at the end of 2025, but Congress has approved new levels for 2026. 

The article also highlights the importance of talking openly with your family. You don’t need to disclose every detail, but providing some clarity about your intentions can reduce stress down the road. Choosing the right time, setting expectations, and looping in a professional can make those conversations much easier.

At the end of the day, estate planning is about taking care of the people you love. And an annual review is one of the simplest ways to make sure your plan keeps doing that.

If you’d like help reviewing or updating your estate plan, the team at Rhodes Law Firm is here to guide you every step of the way. Contact us today to schedule a consultation.