You put the work in. You sat down with an attorney, signed the documents, and got your estate plan in place. That step alone puts you ahead of most people. But estate planning is not a task you check off once and forget. Life moves forward, Oregon law changes, and the plan that protected your family two years ago may no longer reflect what you actually want today.
So when should you update your estate plan? The short answer: more often than you probably think.
Major Life Events That Require a Review
Certain personal milestones trigger an immediate need to revisit your estate plan, including marriage, divorce, a new child, or a death in the family.
Marriage changes nearly everything in an estate plan. Under Oregon law, a surviving spouse has statutory rights to a share of the estate, but those rights work alongside, not instead of, a written plan. If you married after creating your will or trust, your new spouse may not be adequately protected without an update.
Divorce is equally significant. Oregon Revised Statute 112.315 automatically revokes will provisions in favor of a former spouse when a marriage is dissolved. Oregon law may also revoke certain beneficiary designations in favor of a former spouse, including some life insurance and payable-on-death or retirement account designations, depending on the type of account and governing law. However, not all accounts are automatically updated after divorce, particularly some federally governed retirement plans. So, you should review and update all beneficiary designations after a divorce.
The birth or adoption of a child is another clear trigger. If you have a will drafted in Bend and a new child arrives, that child may not be named as a beneficiary or have a guardian designated in your current documents. Oregon intestacy statutes provide a default inheritance path, but a will gives you control over how and when your child receives assets.
When Financial or Property Circumstances Change
Buying or selling real estate, starting a business, or receiving a significant inheritance can all disrupt how your current estate plan distributes your assets.
If you purchased property after creating a trust, that property may not be titled in the trust’s name. Assets held outside the trust typically go through probate in Oregon, which is the lengthy court-supervised process most people are trying to avoid. Retitling or funding the trust correctly is a separate step that requires attention every time you acquire new property.
Starting a small business, receiving an inheritance, or seeing a significant shift in your net worth also warrants a review. Your current asset protection planning may not account for new liabilities or beneficiary needs that came with your changed financial position.
Oregon Law and Tax Changes
When Oregon statutes or federal tax law changes, those updates can affect how your estate is taxed and distributed, even if your documents are unchanged.
Oregon has its own estate tax, separate from the federal estate tax. The Oregon estate tax currently applies to taxable estates exceeding $1 million, with rates ranging from 10% to 16%. That threshold has remained at $1 million for years, meaning more Oregon families are subject to it as property values rise, especially in Deschutes County, where Bend’s real estate market has grown steadily. If your estate now approaches or exceeds that threshold, your current plan may not include the trust structures, portability planning, or gifting strategies needed to minimize potential estate tax exposure.
Federal law changes can also shift the calculus on how you structure trusts, gifts, and retirement account distributions. Reviewing your plan with an attorney whenever significant tax legislation passes is a practical habit.
Changes to Your Agents and Beneficiaries
If a person named in your plan has died, moved away, or your relationship has changed significantly, those designations need to be updated immediately.
Your estate plan names people: the executor of your will, the trustee of your trust, the agent under your power of attorney in Bend, and the person named in your advance healthcare directive. If any of those individuals pass away, become incapacitated, or are simply no longer someone you trust, your documents should reflect that right away.
Beneficiary designations are just as critical. The person named as a beneficiary on a retirement account or life insurance policy receives those assets directly, regardless of what your will says. Keeping those designations aligned with your overall plan is one of the most overlooked parts of estate planning maintenance.
A General Rule: Review Every Three to Five Years
Even without a major triggering event, a general review every three to five years is a sound practice. Your values shift. Family dynamics evolve. Oregon statutes occasionally change. A short review with your attorney can confirm your plan still does what you intend, or catch something that quietly drifted out of alignment.
If you have never created a formal plan at all, that is the first step. Oregon’s default intestacy laws will govern who inherits your property and who cares for your children if you die without a will. Those defaults may not match your wishes, and they offer no protection for unmarried partners or blended family members who are not biological relatives.
The estate planning attorneys at Baxter Law, LLC understand that these decisions touch every corner of your life, from your finances to your family relationships to your healthcare. Their approach focuses on making the entire process as clear and straightforward as possible, not just producing documents, but making sure you understand what they do and why they matter.
Whether you need a full plan review, a targeted update after a life change, or guidance on a specific document like a special needs trust or healthcare directive, the team at Baxter Law, LLC is ready to help. Call 541-546-1713 or contact us to schedule a conversation with an attorney who will take the time to understand your full picture.
