Let’s face it—the economy is a moving beast. One minute the stock market is soaring, the next it’s doing a swan dive. Inflation sneaks up on us like an unexpected houseguest and before we know it a dinner at the pub that used to cost $35 is now a cool $50 but in the same breath we're complaining about the cost of bread and fuel many people are flabbergasted to find their house once worth six figures is punching above its weight with an extra zero at the end of the valuation.
But here’s the thing: your estate plan needs to keep up with these changes, too!
If you haven’t dusted off your will or trust in a while, now’s the time to make sure your estate plan isn’t at the mercy of economic shifts. Let’s talk about what you might need to update and why.

Your investments aren't what they used to be
If your estate plan includes specific gifts of stocks, real estate, or other investments, their value today may be wildly different from when you first made those decisions. A few years ago, you might have left your nephew shares in a thriving tech company—only to realize they’ve plummeted in value, while your real estate holdings have skyrocketed.
🛠 Quick Fix: Update your estate plan to reflect today’s financial reality, not yesterday’s stock prices. Consider shifting from specific asset gifts to a percentage-based approach to keep things fair.
Inflation is eating away at fixed amounts
You might have once thought, "A $50,000 gift to my grandkids will give them a deposit for a house"—but thanks to inflation, that may not stretch as far as it used to. If you’re leaving fixed dollar amounts to beneficiaries, it’s worth checking whether those numbers still make sense and whether they will benefit the recipent in the ways you intend.
🛠 Quick Fix: Instead of setting fixed dollar gifts, consider leaving a percentage of your estate. That way, the value of their inheritance adjusts naturally over time.
Check in with your accountant about tax implications on your estate
The government loves to keep changing tax rules. A change in tax laws could mean your once tax-efficient estate plan is now leaving your beneficiaries with a bigger bill than necessary.
🛠 Quick Fix: Make time to talk to your accountant or financial adviser about your intentions and whether or not there are things you need to tweak to maximise tax savings.
Your real estate may be worth more (or less) than you think
Changing property values can throw off your estate distribution. Whilst the rental property you bought in the 1980's for next to nothing might be worth a small fortune, you may find your principal place of residence isn't worth as much as you were expecting.
🛠 Quick Fix: Review how you've allocated real estate in your will incase you want to rebalance things and avoid unintentional family drama.
Your estate plan is a living breathing document that evolves as your financial world changes. A quick update of your estate plan now can save your family a world of stress later.
Click the link below to make a time to chat about your estate plan.
Disclaimer: The information provided in this article is general information only and should not be considered financial or tax advice. While every effort has been made to ensure accuracy I am not a licensed financial professional and this information should not be relied on as a substitute for professional advice. Please consult with a qualified accountant, financial advisor, or tax professional before making any decisions regarding your estate plan.
Additional resources:
Free Wills Cost More Than You Think
10 Things To Do Before You Die
Why A Personal Asset Plan Is The Best Gift You Can Give Your Family