What to Do After You’ve Made Your Will or Trust

You’ve done something incredibly important: you made your will or set up a trust. That step alone puts you ahead of many Americans. But don’t stop there—your estate plan isn’t complete until you’ve taken a few more key actions to ensure your wishes are truly honored.

This article walks you through the next moves to take after you’ve signed your documents.

Step 1: Safely Store Your Documents

Your will or trust won’t help your family if no one can find it. Consider the following storage options:

• A fireproof safe in your home
• A safety deposit box (let your executor know how to access it)
• With your attorney
• A digital backup with secure, encrypted storage

Tip: Tell your executor or trustee where your original documents are stored and how to access them.

Step 2: Review Regularly (at Least Every 2-3 Years)

Your life will change. So should your estate plan. Revisit your will or trust when:

• You get married or divorced
• A child or grandchild is born
• You move to a different state
• Tax laws change
• Someone in your plan passes away or becomes incapacitated

Tip: Set a reminder every few years to do a full review—even if nothing seems to have changed.

Step 3: Update Beneficiary Designations

Wills don’t override named beneficiaries. Life insurance, annuities, retirement accounts, and transfer-on-death accounts pass directly to whoever is listed.

Make sure the following are accurate and up to date:

• Life insurance policies
• IRAs, 401(k)s, and pension plans
• Bank accounts with POD (Payable on Death)
• Investment accounts with TOD (Transfer on Death)

Note: If a listed beneficiary is deceased, or none is listed, those assets may still go through probate.

Step 4: Communicate with Loved Ones

You don’t need to share every detail, but your loved ones should know:

• That you’ve created an estate plan
• Who your executor or trustee is
• How to access your documents in an emergency

Note: This can reduce confusion, prevent disputes, and protect your intentions.

Step 5: Coordinate All Parts of Your Plan

Your will, trust, powers of attorney, and beneficiary designations should all work together. For example:

• If your trust holds property, make sure the title is properly transferred
• If your will references specific items or gifts, be sure they still exist
• Powers of attorney for finances and healthcare should reflect your current wishes

Common Mistake: Setting up a trust but never funding it (i.e., not moving assets into the trust).

Step 6: Protect Against Challenges

If you have a blended family, estranged relatives, or unusual wishes, consider taking these extra steps:

• Include a letter of intent explaining your decisions
• Work with an estate attorney for precise wording
• Document your mental capacity when signing documents

Note: This helps prevent misunderstandings and legal battles.

Final Thought: Estate Planning Is a Living Process

Think of your estate plan as a tool—not a one-and-done task. As your life evolves, keep your plan aligned.

And if you haven’t yet created your will or trust, there’s still time. August’s Make-a-Will Month is the perfect moment to take action.

Need help reviewing your plan or updating your beneficiaries? Connect with a retirement or estate planning professional at SafeMoney.com.

🧑‍💼 Written by Brent Meyer, founder of SafeMoney.com. With more than 20 years of hands-on experience in annuities and retirement planning, Brent is committed to helping Americans make informed, confident financial decisions.

Disclaimer: This article is for educational purposes only and does not constitute legal or financial advice. Consult an estate planning attorney for personalized guidance.