As autumn arrives and farmers prepare for the harvest, the season provides a fitting reminder of the importance of preparation. At Duncan Legal, PC, we believe fall can also be an ideal time to revisit your estate plan and make sure it continues to reflect your wishes, your family, and your current circumstances.
Just as a successful harvest requires planning and attention throughout the year, an effective estate plan should not simply be created and forgotten. Life changes, finances evolve, families grow, and laws can change. Periodically reviewing your plan can help ensure that the documents and strategies you have in place continue to accomplish what you intended.
Is Your Estate Plan Still Right for You?
Fall naturally brings a sense of reflection and preparation. At Duncan Legal, PC, we encourage individuals and families to use this time to consider whether anything significant has changed since their estate plans were created or last reviewed.
Changes that may warrant another look at your estate plan can include:
- A marriage or divorce
- The birth or adoption of a child or grandchild
- The death of a spouse, beneficiary, or other loved one
- A significant change in your financial circumstances
- The purchase or sale of real estate
- Receiving an inheritance
- Starting, selling, or making changes to a business
- Changes in relationships with beneficiaries, trustees, or other individuals named in your plan
- Changes to applicable estate planning or tax laws
Even when life seems relatively unchanged, periodically reviewing your plan can provide an opportunity to confirm that it still reflects your current wishes.
Make Sure Your Will and Trusts Are “Harvest-Ready”
Much like farmers evaluate their crops before harvest, consider whether your estate planning documents are ready to accomplish what you expect them to do.
Duncan Legal, PC recommends periodically reviewing your will and any trusts you have established. Consider whether the people named in your documents are still the people you want serving in those roles and whether your instructions for distributing your assets remain appropriate.
For example, perhaps you have welcomed a new grandchild since your estate plan was created. Maybe your financial circumstances have changed significantly, or you have acquired property that was not contemplated when your original plan was prepared.
Changes such as these may affect whether your existing estate plan continues to meet your needs.
Don’t Forget Your Beneficiary Designations
Your will and trusts are not the only parts of your overall plan that deserve attention.
At Duncan Legal, PC, we also encourage clients to periodically review beneficiary designations associated with assets such as retirement accounts and life insurance policies.
Life events such as marriage, divorce, the birth of children or grandchildren, or the death of a beneficiary can affect whether existing designations still reflect your wishes.
Reviewing these accounts alongside your estate planning documents can help you identify potential inconsistencies and make sure your overall plan continues to reflect how you intend your assets to be distributed.
Consider Changes in Your Financial Landscape
Your estate plan should also reflect your current financial circumstances.
If you have acquired new assets, including real estate, investments, or an inheritance, those changes may need to be considered as part of your estate plan. Likewise, significant changes in the value or composition of your assets can affect your planning priorities.
At Duncan Legal, PC, we help clients evaluate their estate plans in light of their current circumstances so they can determine whether changes may be appropriate.
An estate plan created years ago may have been right for you at the time. The important question is whether it is still right for you today.
Keep Current Estate and Gift Tax Laws in Mind
Changes in federal law are another reason to periodically review your estate plan.
For 2026, the federal estate and gift tax basic exclusion amount is $15 million per individual, an increase from $13.99 million in 2025. The annual gift tax exclusion remains $19,000 per recipient in 2026.
Even if the value of your estate falls well below the federal estate tax threshold, changes in tax laws, family circumstances, assets, and state laws can still affect how an estate plan should be structured.
Duncan Legal, PC can help you review your estate plan in light of your current circumstances and identify areas that may warrant further consideration. When tax-specific guidance is necessary, coordinating your estate planning with the appropriate tax professionals can also be an important part of the process.
An Estate Plan Should Change as Your Life Changes
One of the biggest mistakes someone can make is assuming that creating an estate plan means the planning process is permanently finished.
At Duncan Legal, PC, we view estate planning as something that should evolve alongside your life. The decisions you made five, ten, or twenty years ago may no longer reflect your family relationships, financial situation, priorities, or wishes.
A periodic review gives you an opportunity to ask important questions:
Does my plan still protect the people I want to protect? Are the right individuals named to make decisions or carry out my wishes? Have my assets changed? Do my beneficiary designations still make sense? Does my plan continue to accomplish what I intended?
If the answer to any of these questions is uncertain, it may be time for an estate plan review.
Harvest the Peace of Mind That Comes With Being Prepared
As autumn brings a season of reflection and preparation, consider taking the opportunity to revisit your estate plan.
At Duncan Legal, PC, our goal is to help individuals and families create and maintain estate plans that reflect their current wishes and provide greater security for the people they care about.
Whether your estate plan was created recently or many years ago, reviewing it periodically can help ensure that the legacy you have worked hard to build remains protected and prepared for the future.
Is It Time to Review Your Estate Plan?
If it has been several years since you reviewed your estate plan, or if your family, finances, assets, or wishes have changed, Duncan Legal, PC can help you determine whether your existing plan still meets your needs.
Duncan Legal, PC
6436 S. Racine Circle, Suite 227
Centennial, CO 80111
Call (303) 394-2358 or visit www.duncanlegal.com to schedule a consultation. We’ll help you review your current estate planning documents, identify changes that may need to be addressed, and develop planning strategies designed to protect your wishes, your loved ones, and the legacy you’ve worked hard to build.
