Reviewing Your Estate Plan After the Death of a Loved One: A Guide by Zeus Estate Planning

The death of a loved one is never easy. Regardless of whether the deceased was a relative, significant other, or close friend, you need space and time to process and grieve your loss. Once you have had time to cope with all that has happened, it’s essential to consider updating your estate plan in light of your loved one’s death.

Though estate planning is primarily about what will happen if you become incapacitated or die, the death of a loved one can significantly impact your planning. If you have an estate plan in place, here are a few questions you should consider when reviewing your documents after a loved one’s passing:

1. Was your loved one named as a beneficiary?
If your deceased loved one was named as a beneficiary of money or property in your will or trust, it’s important to see what happens to those assets if they predecease you. Does your plan account for a backup (contingent) beneficiary? If not, the asset could become part of your general estate, and its distribution might not align with your wishes. This is especially important if the intended beneficiary had family members you would want to benefit in their place.

Some states have antilapse laws, which automatically redirect the gift to the beneficiary’s heirs. However, these laws vary, and some states limit this protection to blood relatives. It’s important to review your estate plan with your estate planning attorney to ensure your intentions are honored.

2. Was the deceased a decision-maker in your plan?
Estate plans often name trusted individuals to act as executors, trustees, or agents under powers of attorney. If the person you chose for these roles has passed away, you need to ensure there’s a named backup. If not, updating the affected document is critical. This way, your estate or affairs won’t face delays or court intervention in appointing a decision-maker.

• Personal Representative (Executor): Your executor is responsible for managing your estate, settling debts, and distributing assets after your death. If they pass away before you and no alternate is named, the court will decide who will serve based on state law, which may not align with your preferences.
• Co-Trustee or Successor Trustee: If your loved one was co-trustee or successor trustee of your trust, you should review your trust agreement. There may be provisions that allow you to continue as sole trustee or appoint a new co-trustee. If your successor trustee has passed away, it’s important to update your plan to avoid future complications when it’s time to manage or distribute trust assets.
• Agent Under Financial Power of Attorney: This individual manages your financial affairs if you are incapacitated. If your agent is deceased, a court may need to appoint someone to act on your behalf, which could be costly and time-consuming. Without a named agent, your private affairs may also become public through the court process.
• Agent Under Medical Power of Attorney: If your medical agent is no longer alive, no one will have the legal authority to make medical decisions for you if needed. In this case, your family may need to petition the court to have a guardian appointed to make those decisions, and the court may appoint someone you would not have chosen.

3. Do you need to update your guardianship arrangements for minor children?
If the guardian you named for your children has passed away, it’s crucial to name a new one. If no alternate is provided, a judge will determine who will raise your children based on state law. The court may not choose the individual you would have preferred, especially if you haven’t provided clear guidance in your estate plan.

We’re Here to Help
At Zeus Estate Planning, we understand how emotionally challenging it is to face these decisions during a time of grief. However, updating your estate plan is a necessary step to ensure your wishes are carried out and your loved ones are protected. When you’re ready, our team is here to help guide you through the process—whether you’re updating an existing plan or starting fresh.

Give us a call to schedule your in-person or virtual appointment. We’re here to make sure your estate plan works for you and your family during life’s most difficult moments.