Update your New York estate plan immediately after any major life event, such as marriage, divorce, a new child, a death in the family, or a move out of state. Otherwise, review it every two to four years even if nothing dramatic has changed, which lines up with the American Bar Association's general guidance.
Major Life Events: Update Immediately
Some changes should send you straight back to your will, not onto a someday list.
- Marriage or divorce. Marriage often means adding a spouse as a beneficiary and agent. Divorce means removing your ex-spouse from beneficiary designations, powers of attorney, and health care proxies, since New York does not automatically revoke every one of those roles the way it revokes some will provisions.
- Birth or adoption. A new child means naming a guardian, considering a trust to manage a minor's inheritance, and updating beneficiary designations on any relevant accounts.
- Death of a spouse, beneficiary, or executor. If someone named in your plan dies before you, your plan needs a replacement named for that role right away, not whenever you next think of it.
- A major change in assets. A large inheritance, a business sale, or a significant drop in net worth can all change which tools, such as a trust, make sense for your estate.
Changes in Assets and Liabilities: Review Annually
Even without a dramatic life event, your financial picture shifts every year through investment gains, new real estate, or changes in business ownership. Set a yearly reminder to confirm that your asset list, and the beneficiary designations tied to specific accounts, still match what you actually own and who you actually want to receive it.
Changes in Tax Law: Review as Needed
Federal and New York estate tax exemption amounts are adjusted most years and can also change through new legislation. An estate plan built around one year's exemption thresholds can become outdated within a year or two, particularly for estates near the exemption line. If your estate is large enough that taxes are a real consideration, a periodic check-in with an estate planning professional is worth the cost of avoiding a surprise tax bill for your heirs.
Aging and Health Changes: Review Regularly
As you age, revisit your health care proxy and living will to confirm they still reflect your wishes about end-of-life care and long-term care planning. A new diagnosis, or simply a change of mind about who should make decisions for you, is a good reason to update these documents even if your will itself does not need to change.
Changes in Relationships: Review as Needed
Falling out of touch with a beneficiary, a falling out with someone named as executor, or a new close relationship you want to formally recognize are all reasons to revisit your plan outside of any scheduled review.
Moving Out of State: Update Immediately
Will execution requirements differ by state. New York's rules on witnesses and signatures, set out in EPTL Article 3, Part 2, are not identical to every other state's requirements. A will that was perfectly valid in New York should still be reviewed against your new state's rules after a move, and updated if there is any question about its validity there. For a broader overview of what a complete New York plan should include, see our New York estate planning guide. FastWill makes it straightforward to draft a new state-specific will whenever you relocate.
Periodic Checkups: Every Two to Four Years
Even with no major life event, schedule a checkup every two to four years. The American Bar Association suggests a similar three-to-five year baseline review, noting that estate planning is not a one-time task. Treat whichever interval you choose as a floor, not a ceiling: anything on the immediate-update list above should never wait for your next scheduled checkup.
A Worked Example
Say you wrote your New York will eight years ago, before your youngest child was born and before your divorce three years ago. Even though New York law removes your ex-spouse from certain will provisions automatically, your will may still name your ex-spouse's parents as backup guardians, and it almost certainly does not mention your younger child at all. A periodic checkup would have caught both gaps years ago. If you are in a similar position, do not wait for a scheduled review. Update the document now.
What Happens if You Never Update Your Plan
An outdated estate plan does not become invalid on its own, but it can produce results you never intended: an ex-spouse named as executor, a child left out entirely, or an asset list that no longer reflects what you own. Because New York's probate process follows exactly what the document says, an outdated will is followed just as literally as a current one, which is exactly the problem.
How FastWill Makes Updates Easy
Because your FastWill account keeps your documents on file, updating a beneficiary, guardian, or executor does not mean starting over from a blank page. You can revise the specific section that changed and generate an updated, properly executed document in one sitting.
Frequently Asked Questions
How often should I review my New York estate plan if nothing major has happened?
Every two to four years is a reasonable floor, even without a life event, so you catch small drift before it becomes a real problem.
Does getting divorced automatically update my New York will?
Partially. New York law revokes certain provisions favoring an ex-spouse, but it does not update guardian nominations, other beneficiaries, or your power of attorney and health care proxy, so you should still make the changes yourself.
Do I need to update my will every time I buy or sell an asset?
Not necessarily for every transaction, but review your asset list and beneficiary designations at least annually to keep them current.
What if I move out of New York?
Review your will against your new state's execution requirements as soon as possible, since witness and signature rules vary by state.
Is it expensive to update an online will with FastWill?
Updating specific sections of your FastWill documents is far simpler than starting over, since your existing information carries forward into the revised document.
If it has been more than a couple of years, or you have had any major life change, take a few minutes now to review your plan with FastWill's online will builder.
