Life Events that Necessitate Changes to Your Texas Estate Plan

Your estate plan is not a one-time task—it should evolve as your life does. Significant life events often require revisiting your plan to ensure it still reflects your wishes and complies with Texas law.

Working with an experienced Killeen estate planning attorney can give you peace of mind that your estate plan continues to protect your legacy and your family.

Estate Plans and Your Life

Estate planning should be viewed as an ongoing process. As your life and family change, so should your will, trusts, and beneficiary designations. Scheduling regular reviews with your estate planning lawyer every year or two can help keep your plan current and effective.

If your estate plan needs a refresh, schedule an appointment with an estate planning lawyer today to make sure your desires are protected.

Your Estate Plans Are Not Carved in Stone

Think of your estate plan as a guide to where you are going—not just where you have been. Changes in Texas law, your financial situation, or your family dynamics may all require adjustments. Common tools to revisit include:

Your will
Trusts
Beneficiary-based accounts, such as retirement funds or life insurance policies
Transfer on death deeds

Key Life Events that Require Updates

Several significant life events can necessitate estate plan revisions. Make sure to consult with an estate planning lawyer when you encounter any of these major changes.

Marriage

Marriage is a major event that affects estate planning. Texas is a community property state, meaning assets acquired during marriage belong to both spouses. A will ensures your separate property and share of community property pass according to your wishes. Without one, intestacy laws apply—which may not reflect your intentions, especially in blended families. In blended families, this issue is especially important to address so that your children from prior relationships do not unintentionally lose rights to inherit property or are left with less than you intended.

In Texas, even if your marital home is considered separate property, your spouse has homestead rights. This means he or she can continue to live in the home for life after your death, regardless of how the will divides ownership.

Marriage is also the time to update powers of attorney. Many spouses name each other for financial and medical decisions, though this is a personal choice depending on your comfort level.

The Birth or Adoption of a Child

The arrival of a new child or grandchild is a clear reason to update your estate plan. Important steps include:

Updating your will to include them by name
Naming a guardian to care for your children if the unthinkable occurs
Updating beneficiary designations on accounts, trusts, and insurance policies

Failing to update these documents can cause disputes, delays, and unintended inequities.

Divorce

Finalizing a divorce should trigger a review of your estate plan. Typically, you will want to:

Remove your ex-spouse from your will and trusts
Update beneficiary designations on retirement accounts and insurance policies
Revisit powers of attorney

Sometimes divorce decrees require certain provisions to remain in place. A lawyer can ensure you comply with your decree while protecting your heirs.

Significant Financial Changes

Whether you receive an inheritance, start a successful business, or experience financial losses, your estate plan should reflect your new circumstances.

Increased Wealth

You may want to include charitable gifts or tax planning strategies to reduce estate taxes.

Reduced Wealth

You may choose to focus on immediate family and simplify your distribution plan.

Serious Healthcare Concerns

A significant health diagnosis should prompt you to revisit your medical power of attorney, financial power of attorney, and advance directive (living will). If you have strong opinions about medical care, putting them in writing ensures your wishes are honored.

Work with a Texas Estate Planning Attorney

Estate planning is highly personal, and only you can decide what is right for your family. However, a skilled lawyer ensures your plan reflects your intentions while holding up under Texas law. An attorney can help you:

Update documents correctly
Protect your children’s inheritance rights
Minimize estate taxes
Ensure smooth administration of your estate

Contact a Killeen Estate Planning Lawyer Today

At the Law Office of Brett H. Pritchard, we help Texans keep their estate plans current through life’s changes. Whether you are marrying, divorcing, welcoming a child, or facing a health concern, we ensure your estate plan adapts to protect your family and legacy.