Why Summer Is the Smartest Season for an Estate Plan Review
There’s nothing quite like summer in Southern California. Sunshine, travel, family time, and a slower pace to recharge. But behind all that relaxation, there could be a storm brewing—and no, we don’t mean the weather. We’re talking about something far more disruptive: an outdated estate plan.
At Shoup Legal, we’ve seen how quickly an old or incomplete estate plan can unravel during a family emergency. July is a great time to get your affairs in order—especially if you’re planning a vacation or gathering with loved ones.
The Most Dangerous Assumption? Thinking You’re “All Set.”
Many people believe that once they’ve signed their will or created a trust, their estate planning work is done. But the truth is, estate planning is not a one-and-done event. Life changes. Relationships shift. Assets grow. If your plan doesn’t keep up, it could lead to unintended consequences—delays, disputes, court battles, or worse.
We’ve handled probate cases that resulted not from a lack of estate planning, but from an outdated plan that no longer reflected the client’s current wishes or situation. That’s why an estate plan review every few years—or after major life events—is critical.
Worse yet, many people don’t even realize what’s missing until it’s too late. In one case, a client had named her sister as guardian of her minor children when they were toddlers. But two decades had passed—and the sister had since moved out of state, was in poor health, and hadn’t spoken to the family in years. Had she not updated her plan, the court would’ve followed that outdated directive, potentially causing confusion and conflict.
Life Happens Fast—Has Your Plan Kept Up?
As we share in our article, “Life Events That Require an Estate Plan Update,” the following changes are big red flags that it’s time to revisit your documents:
- Marriage or divorce
- Birth or adoption of children or grandchildren
- Death or incapacity of a loved one
- Changes in financial status or property ownership
- A move to another state
- Business changes (starting, selling, or inheriting a business)
- Retirement or change in long-term care preferences
Each of these events can impact how your estate is managed, how your assets are distributed, and who has authority to act on your behalf.
Even seemingly minor events—like changing banks or switching investment firms—can affect whether your assets are properly titled in your trust. We often meet with clients who were diligent about creating a revocable living trust, but never “funded” it, meaning they didn’t retitle their assets to the name of the trust. As a result, their estates were still subject to probate.
Summer Travel = Estate Planning Risk
Summer means vacations—and while no one wants to think about worst-case scenarios, traveling increases the chance you may need someone to step in and help if something unexpected happens.
Consider a widely reported case of a businessman who died suddenly while abroad. He had discussed making changes to his will, but hadn’t finalized anything. Because of this delay, his assets were tied up in court, and his family had to deal with a complicated and painful legal mess during their time of grief.
Vacation also often brings multigenerational families together. That makes it a great time to have estate-related conversations. While these discussions aren’t always easy, they can prevent surprises and ensure everyone understands your intentions. Having a plan—and sharing the “why” behind it—can go a long way in reducing family tension later on.
Before any extended travel, we recommend reviewing your estate plan—and making sure your healthcare directive and durable power of attorney are up to date and accessible. If you were incapacitated abroad, would your family know what to do? Who to call? What kind of care you want?
How Often Should You Update Your Estate Plan?
In our article, “How Often Should I Update My Estate Plan?,” we recommend revisiting your documents every 3–5 years, or sooner if there’s a major life change. Why? Because laws change, families evolve, and financial circumstances shift.
For example, a revocable living trust written 10 years ago might reference bank accounts that have been closed or name trustees who are no longer alive. A will from 2008 might not mention grandchildren born after that date. A healthcare directive may not reflect your current views on medical care.
Many people also forget to revisit their beneficiary designations on retirement accounts or life insurance policies. These override what’s in your will or trust. So if your ex-spouse is still listed on your life insurance, guess what? They’re getting the payout.
Use Our Mid-Year Estate Plan Checklist
From our Estate Planning Guide, here are the essentials to review:
✅ Revocable Living Trust
Ensure all assets—homes, investment accounts, bank accounts—are properly titled in the name of the trust. Unfunded trusts lead to probate.
✅ Will
Does it name the correct guardians for minor children? Does it reflect your current family relationships?
✅ Durable Power of Attorney
Can the person you appointed still act on your behalf if needed? Have you considered a backup agent?
✅ Advance Healthcare Directive
Are your medical preferences clear? Does your agent understand and agree with your wishes?
✅ Beneficiary Designations
Your 401(k), IRAs, and life insurance policies don’t follow your will—they follow their own paperwork. Review these to make sure they’re up to date.
What Can Go Wrong If You Don’t Update?
Failing to update your estate plan can result in:
- Probate court involvement (even with a trust!)
- Distribution to the wrong beneficiaries
- Delays in accessing funds or property
- Family disputes and legal challenges
- Guardianship confusion for minor children
- Increased taxes and administrative fees
These issues often arise during already difficult times. By reviewing your estate plan this July, you give your family a gift: clarity, peace of mind, and protection.
July Is About Freedom—So Is Estate Planning
In one of our recent articles, we discussed how estate planning is your personal declaration of independence. It gives you the power to make decisions about your finances, medical care, and legacy—rather than leaving those choices up to the state.
We also explored the freedom to distribute assets your way—not according to default state rules. But outdated plans can strip away that control. Only by keeping your plan current can you ensure it truly reflects your wishes.
Taking action now is not just responsible—it’s empowering. Whether you’re relaxing poolside, planning a road trip, or gathering with loved ones, there’s no better time to take stock of what matters most and make sure your legacy is protected.
Let’s make sure your plan is as strong as your summer plans.
📞 Call us today at 951-494-6472 or visit www.shouplegal.com to schedule your estate plan review.
Let’s make this your most prepared summer yet.
Frequently Asked Questions (Estate Planning FAQ)
Q: What is an estate plan?
A: An estate plan is a set of legal documents that ensure your assets, healthcare, and final wishes are handled according to your instructions. It typically includes a will, trust, power of attorney, and advance healthcare directive.
Q: How often should I update my estate plan?
A: Every 3–5 years or after any major life change, such as marriage, divorce, the birth of a child, or a significant change in finances.
Q: What is the difference between a will and a trust?
A: A will goes through probate, which can be costly and time-consuming. A revocable living trust allows your assets to be distributed privately and without court involvement.
Q: Do I need a trust if I already have a will?
A: In California, a trust is often recommended to avoid probate and streamline the transfer of assets—especially for homeowners and families with children.
Q: What happens if I don’t update my documents?
A: Your estate plan may become invalid, misdirect assets, or name the wrong people for important roles. This can lead to probate court, legal disputes, and unnecessary stress for your family.
Q: Can Shoup Legal help with just reviewing my plan, or do I need to start over?
A: We’re happy to review your existing estate plan and identify what can be updated versus what needs to be redone. Most plans just need a refresh—not a full rewrite.
Q: I’m going on vacation soon. What should I have in place?
A: At minimum, you should have an updated power of attorney and healthcare directive. If you haven’t created a trust or will yet, we can help you do so quickly and effectively.