Why Document Review Matters for Your Will and POA

Creating a will and a power of attorney (POA) are essential steps in planning for the future. These documents ensure your wishes are respected and your affairs are managed if you become unable to do so yourself. Yet, many people overlook one critical step: regularly reviewing these documents.

Failing to review your will and POA can lead to confusion, disputes, or even the invalidation of your plans. This post explains why document review matters, what to look for, and how it protects you and your loved ones.

Understanding the Purpose of Your Will and POA

Your will outlines how your assets and property should be distributed after your death. It names executors, guardians for minor children, and beneficiaries. A power of attorney, on the other hand, appoints someone to make decisions on your behalf if you become incapacitated. This can cover financial, legal, or healthcare decisions depending on the type of POA.

Both documents serve different but complementary roles in your estate plan. Without them, your wishes may not be followed, and courts may intervene to decide for you.

Why Regular Review Is Essential

Life changes constantly. You may get married, divorced, have children, acquire new assets, or move to a different state. These changes can affect the validity and relevance of your will and POA.

Here are key reasons to review your documents regularly:

• Changes in family dynamics: A new marriage or divorce can alter who you want to inherit or manage your affairs.

  
  

• Asset updates: Buying a home, selling investments, or starting a business means your will should reflect these changes.

  
  

• Legal updates: Laws about wills and POAs can change, affecting how your documents are interpreted.

  
  

• Health status: If your health changes, you might want to update your POA to ensure the right person has authority.

  
  
  
  

Failing to update your documents can cause unintended consequences. For example, an ex-spouse might inherit assets if your will still names them as a beneficiary. Or a POA might name someone who is no longer able or willing to act on your behalf.

What to Look for When Reviewing Your Will and POA

When you sit down to review your documents, focus on these areas:

Beneficiaries and Agents

Check if the people named still reflect your current wishes. Confirm their contact information and willingness to serve.

Asset List and Distribution

Make sure all your assets are included and the distribution percentages or instructions still make sense.

Legal Language and Validity

Look for any outdated legal terms or clauses that might no longer be valid under current laws.

Contingency Plans

Verify that backup agents or alternate beneficiaries are named in case your primary choices cannot serve.

Signatures and Witnesses

Confirm that your documents were properly signed and witnessed according to your state’s requirements. If not, they may need to be redone.

How Often Should You Review Your Documents?

A good rule of thumb is to review your will and POA every three to five years. You should also review them after any major life event such as:

• Marriage or divorce

  
  

• Birth or adoption of a child

  
  

• Death of a beneficiary or agent

  
  

• Significant changes in your financial situation

  
  

• Moving to a new state or country

  
  
  
  

Regular reviews keep your documents current and reduce the risk of disputes or confusion.

Reviewing a will and power of attorney documents carefully", image-prompt "A person sitting at a wooden table reviewing legal documents with a pen and notes, eye-level view

Practical Tips for Effective Document Review

• Keep copies accessible: Store your will and POA in a safe but accessible place. Share copies with trusted family members or your attorney.

  
  

• Consult a professional: Laws vary by state and can be complex. An estate planning attorney can help ensure your documents are up to date and legally sound.

  
  

• Communicate your wishes: Talk with your agents and beneficiaries about your plans so they understand your intentions.

  
  

• Use checklists: Create a checklist of items to review each time, such as names, assets, and legal language.

  
  
  
  

Common Mistakes to Avoid

• Ignoring changes in your life or laws

  
  

• Naming agents or beneficiaries without confirming their willingness

  
  

• Failing to update documents after major events

  
  

• Keeping outdated documents without proper signatures or witnesses

  
  

• Not informing key people about the location of your documents

  
  
  
  

The Consequences of Not Reviewing Your Documents

Without regular review, your estate plan can cause problems such as:

• Family disputes over unclear or outdated instructions

  
  

• Court intervention to appoint guardians or manage assets

  
  

• Delays in asset distribution or healthcare decisions

  
  

• Financial loss due to improper management

  
  
  
  

These issues can add stress and expense to your loved ones during difficult times.

Final Thoughts on Protecting Your Future

Reviewing your will and power of attorney is not a one-time task. It is an ongoing process that protects your wishes and supports your family. By staying proactive, you ensure your plans remain clear, valid, and effective.

Take time today to locate your documents, review them carefully, and schedule regular check-ins. If you need help, reach out to an estate planning professional who can guide you through updates and legal requirements.

Your future self and your loved ones will thank you for the clarity and peace of mind that comes from a well-maintained estate plan.