As the year winds down, you’re probably already checking things off: open enrollment, a last look at the budget, gathering paperwork for tax season. One thing that rarely makes the list is your estate plan. A year-end estate plan review takes less time than you think, and it’s the simplest way to make sure your plan still fits the life you’re living today.
Why Is Year-End the Best Time to Review Your Estate Plan?
Year-end works because you’re already in review mode. You’re looking at insurance, retirement accounts, and tax documents anyway. Adding your estate plan to that list keeps everything aligned, so your will, beneficiaries, and accounts all point in the same direction.
It’s also a natural pause to look back. Your will, durable power of attorney, and health care directive are only as good as the life they reflect. Laws change too. In 2025, Minnesota updated the Minnesota Trust Code and related estate laws, including letting certain trusts created on or after August 1, 2025, last up to 500 years. If you haven’t looked at your plan in a few years, a quick review can confirm it still works the way you intended.
The short answer: a year-end review lets you start the new year with confidence, not questions.
Which Life Changes Mean Your Estate Plan Needs an Update?
Big moments, joyful and hard ones, can quietly change how your plan works and who it protects. If any of these happened this year, it’s time to take a look:
- Marriage or divorce
- Birth or adoption of a child or grandchild
- Death of someone named in your plan
- A move to or from Minnesota
- A new home, business, or big change in assets
- Changes in health, care needs, or family roles
- Children reaching adulthood or becoming financially independent
Even one of these changes can make your current plan outdated. For example, under Minn. Stat. § 524.2-804, a divorce generally cancels gifts and roles your plan gave a former spouse, but some retirement plans follow their own rules. Updating your documents directly is the clearest path, and often a small update is all it takes.
What Should You Check Before the New Year?
Start with the core documents that make up your plan. For each one, ask a simple question:
- Will: Are your beneficiaries accurate? Is your executor still the right fit?
- Trust: Does it include your current assets? Are your trustees still willing and able to serve?
- Financial power of attorney: Is your agent someone you still trust?
- Health care directive: Does it reflect your values today? (Minnesota’s health care directive law explains what these documents can cover.)
- Beneficiary designations: Are they current on life insurance, IRAs, and retirement accounts? These pass outside your will, so they’re easy to miss.
- Property titles: Do they line up with your plan, for example, titled in your trust if you have one?
Then look at the bigger picture: digital accounts and passwords, charitable giving goals, and whether your family knows where your documents are. A plan works best when the people it affects understand it.
When Should You Talk to an Estate Planning Attorney?
If it’s been more than three years since your last review, or the checklist raised questions, it’s a good time for a professional look. Johnson/Turner has helped Minnesota families plan for the future since 2003, and a review with our team typically covers:
- Gathering your current will, trust, powers of attorney, and health care directive
- Confirming your beneficiaries, executor, and trustees are still the right people
- Checking that your plan lines up with current Minnesota law
- Recommending updates, whether that’s a quick tweak or a bigger rewrite
- Walking through next steps for signing and safekeeping
Most updates are small, but their impact on your family can be significant. With our flat-fee pricing, you’ll know the cost before you start.
Start 2027 Prepared, Not Playing Catch-Up
A little planning now can spare your family stress and uncertainty later. Whether you’re updating an existing plan or starting from scratch, book a free 15-minute guidance call with our Minnesota estate planning attorneys, or call (651) 403-8966.
Frequently Asked Questions
How often should I update my estate plan? Most people should review their plan every three to five years, and anytime a major life change happens, like a marriage, divorce, new child, or move.
Do beneficiary designations override my will? In most cases, yes. Accounts like life insurance and IRAs pass directly to the named beneficiary, so it’s important to keep those designations current.
Do I need an attorney to update my estate plan? Small changes can sometimes be simple, but an attorney can make sure updates are done correctly and still comply with Minnesota law.
