October is National Estate Planning Month: 7 Reasons New Bedford Families Should Update Their Estate Plan Today

October is National Estate Planning Month, a perfect reminder to review and refresh your estate plan. Many people in New Bedford and Bristol County, Massachusetts, create their estate plans and then put them away, believing they are “set for life.” But life changes—and an outdated plan can create unnecessary complications or fail to reflect your true intentions.

 

At Logan A. Weinkauf, Attorney at Law, we help individuals and families ensure their estate plans remain current and effective. Below are seven important reasons to revisit your estate plan this month.

1. Financial Changes

Have you recently started a new job, received a promotion, or launched a business? Perhaps you’ve purchased real estate in New Bedford, Dartmouth, or Fairhaven? Any significant financial changes can impact your estate and should prompt a review of your planning documents.

Updating your estate plan ensures your assets are properly accounted for and distributed according to your wishes.

2. Beneficiaries

Life changes, and so do relationships. Children grow up, marriages occur, and friendships evolve. Make sure your named beneficiaries still reflect your current intentions. A quick update today can prevent misunderstandings and disputes later.

3. Relocation

If you have moved to a new state, it’s crucial to update your estate plan. Each state has unique legal requirements for wills, trusts, and powers of attorney. If you’ve recently relocated to Massachusetts, you should review your documents with an attorney familiar with state law to ensure compliance.

4. Health Issues

Changes in your health—or the health of loved ones—may require updates to your healthcare directives or powers of attorney. These documents ensure that trusted individuals can make decisions on your behalf if you are unable to do so. Staying current provides clarity and peace of mind for your family during difficult times.

5. Major Life Events

Significant life events such as marriage, divorce, childbirth, adoption, or the loss of a loved one can dramatically alter your estate planning needs. These changes should always be reflected in your legal documents so that your estate plan matches your current circumstances.

6. Tax Law Updates

Both state and federal tax laws frequently change. These updates may create new obligations or opportunities for your estate planning strategies. Staying informed and adjusting your plan can save you—and your beneficiaries—time, money, and unnecessary stress.

7. Regular Reviews

Even if you haven’t experienced major life changes, it’s a good rule of thumb to review your estate plan every 3 to 5 years. Small shifts in your finances, family, or the law can create gaps that only a periodic review can catch.

Why Updating Your Estate Plan Matters

Keeping your estate plan up to date isn’t just about protecting your assets—it’s about protecting the people you care about most. A current estate plan:

• Avoids court delays and disputes

• Provides clear instructions for healthcare decisions

• Ensures your assets are distributed according to your wishes

• Minimizes tax burdens and legal fees

Take Action This National Estate Planning Month

October is the perfect time to schedule a review with an experienced New Bedford estate planning attorney. At Logan A. Weinkauf, Attorney at Law, we work with individuals and families across Bristol County to ensure their estate plans remain relevant and comprehensive.

Call us today at 774-205-1984 or visit weinkaufpc.com to schedule a confidential consultation. Let us help you ensure your estate plan reflects your current wishes and protects your loved ones—now and for years to come.