During National Estate Planning Awareness Week (October 20–26, 2025), it’s time to reflect: 70% of Americans lack a basic plan, risking court control, family disputes, and lost assets.
For most Americans, outdated or missing documents can turn your hard work into chaos. At J. Davenport Legal, we make updates simple and compassionate.
What is National Estate Planning Awareness Week? It’s an annual call to review wills, trusts, and powers of attorney amid 2025 trends like digital assets and tax changes. This article lists key reasons to update now, ensuring your wishes prevail.
Why update your estate plan in 2025? Life changes, laws, and risks demand it—read on to protect your family.
What life events require updates? Marriage, divorce, births, or deaths alter priorities, yet 40% never revise plans. For example, adding a grandchild as beneficiary or naming a new guardian for minors. Why during Awareness Week? It’s the perfect prompt to align your plan with current family dynamics, avoiding court-appointed guardians that 30% of unprepared parents face.
How do 2025 tax changes affect plans? The TCJA sunsets could double estate taxes, hitting $13.61M thresholds. Irrevocable trusts minimize this, saving 40% on heirs’ inheritance. Why update now? Year-end deadlines loom—review trusts and POAs to lock in strategies before January 1, 2026.
What are digital assets in estate planning? Crypto, online accounts, and NFTs total $100B+ in unclaimed value yearly. Without updates, they vanish in probate. How to protect them? Name beneficiaries in your will or trust—our plans include digital inventory for seamless transfer.
Why update for Medicaid? The 5-year look-back can seize homes for care costs, affecting 50% of retirees. Enhanced POAs and living wills ensure wishes for care, preventing family burdens.
What if plans are outdated? Courts decide guardians for minors, risking unwanted outcomes in 20% of cases. Why Awareness Week matters? Update to name preferred guardians and reduce disputes.
| Update Needed | Reason | Action |
|---|---|---|
| Beneficiaries | Life changes (births, deaths) | Review will/trust annually |
| Tax Strategies | TCJA sunset, hikes | Add irrevocable trust provisions |
| Digital Assets | Crypto, accounts ($100B lost) | Inventory in POA/wills |
| Medicaid/Healthcare | 5-year look-back, care wishes | Update living will/proxy |
| Guardians | Minor children protection | Name in will to avoid court |
How often to update? Every 3–5 years or after major events. Cost? Our fixed-fee reviews start at $250, far less than probate. With 30+ years, we make it easy. Not to mention, if you do your plan with us, we offer FREE lifetime changes to your plan.
National Estate Planning Awareness Week reminds us: 70% risk it all without updates. Don’t wait—protect against taxes, digital losses, and conflicts. Ready to review? Schedule a free consultation below.