October is National Estate Planning Month, and there’s no better time to review and refresh your estate plan. Many Maryland families create an estate plan and assume it will last a lifetime, but life changes quickly. An outdated plan can cause unnecessary complications or fail to reflect your current wishes.

 

At Limsky Law Group in Ellicott City, MD, we work with clients across Howard County to ensure their plans are up to date and legally sound. Here are seven compelling reasons to review your estate plan this October.

1. Life Events: Time for an Update

Significant life changes—such as marriage, divorce, childbirth, adoption, or the loss of a loved one—are key triggers to revisit your estate plan. Any change in your family structure can impact your intentions and must be accurately reflected in your documents.

2. Financial Changes: A Fresh Look Required

Major financial shifts like starting a new job, getting a promotion, buying property, or launching a business can drastically alter your assets. Updating your estate planning documents ensures your plan aligns with your new financial situation and goals.

3. Relocation: Confirm State Law Compliance

Have you recently moved to Maryland or out of state? Estate planning laws vary by location, so your documents must comply with your current state’s legal requirements.

4. Review Your Beneficiaries

It’s important to confirm that the beneficiaries named in your will, trust, or retirement accounts match your current wishes. Relationships and family dynamics can change over time, so it’s wise to review these designations regularly.

5. Address Health Changes

Health changes for you or a loved one may necessitate updates to healthcare directives or powers of attorney. These documents ensure your medical wishes are followed and empower trusted individuals to act on your behalf if necessary.

6. Stay Current on Tax Law Updates

State and federal tax laws evolve, and changes could affect your estate planning strategies. Reviewing your plan helps you minimize tax obligations and optimize asset distribution for your loved ones.

7. Keep Your Plan Relevant with Regular Reviews

Even if nothing major has changed, reviewing your plan every 3 to 5 years keeps it current. Minor updates now can prevent major complications later.

Schedule Your Estate Plan Review Today

Updating your estate plan doesn’t have to be overwhelming. The attorneys at Limsky Law Group will guide you through the process and ensure your documents accurately reflect your current wishes.

📍 Conveniently located in Ellicott City, MD, we proudly serve clients throughout Howard County, Columbia, and surrounding Maryland communities.
📞 Call 443-741-2120 or visit mdestatelawyers.com to schedule your consultation today.

Give yourself the peace of mind of knowing your estate plan is up to date and your family is protected.