There's a comfortable fiction many people tell themselves: that end-of-life planning is something to think about later. After retirement. After the kids are grown. After a health scare makes it feel urgent.
The uncomfortable truth is that the best time to start is when you don't need to — when you're healthy, clear-headed, and have time to make thoughtful decisions. Urgency is not your friend when it comes to planning.
The Honest Answer: Right Now
If you're an adult with assets, income, relationships, or dependents, you should have at minimum a basic plan in place. That means:
- A will (even a simple one)
- A healthcare proxy naming who makes medical decisions for you
- Updated beneficiary designations on retirement accounts and life insurance
These three elements take a few hours to establish and protect against the worst-case scenarios. Young adults especially tend to assume they have decades before this matters — but accidents, sudden illness, and unexpected death don't follow a schedule.
Key Life Events That Should Trigger a Review
Beyond the initial plan, your documents should be reviewed and updated when major life changes occur. The most important triggers include:
Marriage or Domestic Partnership
A new spouse or partner almost certainly needs to appear in your will, advance directive, and as your healthcare proxy. In many states, marriage automatically affects existing wills — sometimes in ways that don't match your intentions.
Divorce or Separation
One of the most common estate planning disasters occurs when someone forgets to update beneficiary designations after divorce. An ex-spouse named as the beneficiary on a retirement account will receive those funds regardless of what a divorce settlement says.
Having Children
The moment you have a child — whether biological, adopted, or step — your will needs to name a guardian. Parents with minor children have an urgent responsibility to complete this document.
A Significant Inheritance or Change in Assets
If you inherit property, start a business, or experience a significant change in your financial situation, your estate plan needs to reflect the new reality.
Moving to a New State
Estate planning laws vary significantly by state. Documents that are valid in one state may require updates after a move — particularly advance directives, which have specific witnessing and notarization requirements by state.
The Death of a Named Beneficiary or Executor
If someone you named in your documents dies, those designations need to be updated promptly.
A Serious Health Diagnosis
A serious illness creates urgency. Our guide to planning ahead after a terminal diagnosis addresses this situation specifically — there is still time, and planning now provides enormous relief to both you and your family.
How Often Should You Review Your Plan?
Even without a triggering event, financial advisors and estate attorneys recommend reviewing your plan every three to five years. Laws change, asset values shift, and family relationships evolve. What made sense five years ago may not reflect your current wishes.
A review doesn't necessarily mean rewriting everything — it means reading your documents, confirming beneficiary designations are current, and making any updates that life has made necessary.
The Cost of Waiting
Every week without a plan is a week during which something unexpected could leave your family in a very difficult position. Courts decide who raises your children. An ex-partner could inherit your retirement savings. Medical providers could override your healthcare preferences. These aren't hypotheticals — they happen to real families every day.
Use our end-of-life planning checklist to take stock of where you are — and get started on what's missing.