When Should Aging Parents Update Their Estate Plan in Maryland?
If your mom or dad has had the same will or estate plan for 10 years, does that mean it needs to be replaced? Not necessarily. But if their health, family, finances, property, or wishes have changed, it is a good time to have the plan reviewed.
Dawn Trainor-Fogleman has practiced law for more than 30 years and has focused on estate planning for more than 20 years. Her approach is straightforward: estate planning should be based on the individual, not on a one-size-fits-all list of documents. She also believes clients should understand their documents in plain English and know what those documents are intended to accomplish.
For aging parents, that conversation can become especially important as circumstances change.
My mom has a will from 10 years ago. Does she need a new one?
Not simply because it is 10 years old. The better question is whether the will still reflects your mom's wishes and current family and financial circumstances.
For example, it may be worth reviewing the will if:
- A spouse or beneficiary has died
- A child has gotten married, divorced, or become estranged
- New grandchildren have been born
- Your mom has acquired or sold significant property
- Her wishes about who should receive her property have changed
- Someone named in the will can no longer serve in that role
One mistake families can make is assuming that an old document is either automatically valid and appropriate or automatically outdated. A review can determine whether anything actually needs to change.
For families in Frederick, Gaithersburg, Damascus, and surrounding Maryland communities, that review can be particularly useful when an aging parent has accumulated new property, changed family circumstances, or simply hasn't looked at the plan in years.
My dad's health has changed. Should we review his estate plan?
Yes. A significant change in health is one of the situations that deserves an estate plan review, particularly when it affects your dad's ability to manage his affairs.
This is where documents dealing with incapacity become especially important.
A review may include his:
- Durable financial power of attorney
- Advance medical directive
- Healthcare power of attorney
- HIPAA waiver
- Will
- Trust, if he has one
The key question isn't just whether these documents exist. It is whether the people your dad has chosen are still the people he wants making decisions if he cannot make them himself.
For example, perhaps your dad originally named your mom as his financial agent, but your mom has since developed health problems of her own. Or perhaps he named a child who now lives across the country and is no longer the person he would choose today.
Those are the kinds of circumstances that can make a review worthwhile.
What if the person my parent named as power of attorney can no longer help?
The person named in a power of attorney should still be someone your parent trusts and wants to act on their behalf. If that person has died, become unable to serve, moved away, or no longer makes sense as the choice, the document should be reviewed.
This is a question families sometimes don't think about until they need the document.
Your parent may have prepared a power of attorney years ago when circumstances were completely different. The person named at the time may have been the obvious choice then but not today.
A review gives your parent the opportunity to decide who they want involved now, while they are able to make that decision.
My parent has remarried. Does that change the estate plan?
It can. Marriage, remarriage, divorce, and other significant family changes are good reasons to review an estate plan.
This can be particularly important for blended families. A parent may want to provide for a current spouse while also making sure children from a previous relationship are included in the overall estate plan.
The same principle applies when a child or other beneficiary has died, when grandchildren have been born, or when family relationships have changed significantly.
There isn't one document that automatically solves every family situation. A review should look at the estate plan as a whole and determine whether it still reflects what your parent wants.
What if my aging parent has bought or sold property?
A significant change in property or finances is another good reason to review the estate plan.
For example, your parent may have:
- Purchased a new home
- Sold a property
- Received an inheritance
- Retired
- Acquired significant investments
- Changed how assets are titled
- Acquired property outside Maryland
A change in assets doesn't automatically mean your parent needs a trust or a new will. It does mean the attorney should know about the change when evaluating whether the existing plan still works as intended.
This can be especially relevant for Maryland residents who own property in another state or who have moved between communities such as Frederick or Rockville.
My parent has all the documents. Why would we need an estate plan review?
Having the documents is only part of the process. Your parent should also understand what the documents do, who has been named to act, and whether those decisions still make sense.
This is one of the most practical reasons to review an older estate plan.
Try asking your parent:
- Where are your current estate planning documents?
- Who is your financial power of attorney?
- Who is your healthcare agent?
- Who would handle your estate after your death?
- Do you still want those people in those roles?
- Have your assets or property changed?
- Have your wishes changed?
- Do you understand what your will or trust actually does?
If your parent isn't sure how to answer some of these questions, that doesn't necessarily mean the estate plan is wrong. It may simply mean it is time to sit down with an attorney and go through it.
Dawn's focus on plain-English documents and explanations is particularly relevant here. Her goal is for clients to have a firm understanding of what they are signing rather than simply receiving a stack of legal documents.
Which estate planning documents should an aging parent review?
The documents that need to be reviewed depend on the person's circumstances, but a review commonly includes the will, trusts, financial power of attorney, advance medical directive, healthcare power of attorney, and related healthcare documents.
Will
A will explains how certain property should be distributed after death and can address other important estate-planning decisions.
The review should confirm that the people named in the will and the instructions it contains still reflect your parent's wishes.
Revocable Living Trust
A revocable living trust may be appropriate for some people, but an aging parent does not automatically need a trust simply because they are getting older.
The appropriate plan depends on the person's assets, family, goals, and circumstances.
Durable Financial Power of Attorney
A durable financial power of attorney allows a person to designate someone they trust to handle financial and legal matters on their behalf.
The choice of agent is important. An aging parent should be comfortable with the person they have chosen and should have an opportunity to reconsider that choice if circumstances have changed.
Advance Medical Directive and Healthcare Power of Attorney
An advance medical directive can communicate your parent's healthcare wishes and designate someone to make healthcare decisions when your parent cannot make or communicate those decisions.
If the person named as healthcare agent has died, become unable to help, or is no longer the person your parent wants making those decisions, the document should be reviewed.
HIPAA Waiver
A HIPAA waiver can address who may have access to protected health information when family members or other appropriate people need information to help coordinate care.
Can I help my parent review their estate plan?
You can help your parent gather documents, identify questions, and participate in the process when your parent wants you involved. But the estate plan needs to reflect your parent's own decisions and wishes.
This distinction matters.
An adult child may be the person who notices that a parent hasn't updated anything in years. You might gather the old will, trust documents, power of attorney, and advance directive before the appointment.
But the attorney's client is the parent. The parent should understand the plan and make the decisions about who should receive property and who should have authority to act on their behalf.
My parent has trouble traveling. Can an estate planning attorney come to the house?
Yes. Dawn provides mobile and in-home estate planning appointments for clients in Maryland.
For an older adult, getting to a traditional law office may be difficult even when they are otherwise ready to review their estate plan. Meeting at home can make the process more comfortable and can also make it easier to have existing documents and other important information available during the conversation.
Dawn meets clients at home or another mutually convenient location rather than requiring everyone to come to a conventional office during traditional business hours.
This is particularly relevant for families in Damascus, Gaithersburg, Frederick, Rockville, and surrounding areas who are looking for a mobile estate planning attorney in Maryland.
Her practice also serves clients throughout a broader portion of Maryland, including communities in Montgomery, Frederick, Howard, Carroll, Washington, Prince George's, Anne Arundel, and Baltimore counties.
What should we bring to an estate plan review?
Bring the estate planning documents your parent currently has, along with information about significant assets, property, accounts, and beneficiary designations.
If available, gather:
- Current will
- Trust documents
- Financial power of attorney
- Advance medical directive
- Healthcare power of attorney
- HIPAA waiver
- Information about real estate
- Life insurance information
- Retirement and investment account information
- Beneficiary information
- Names of people currently serving as agents, trustees, or other decision-makers
Don't worry if everything isn't perfectly organized. If your parent has an old folder of estate planning documents and isn't sure what is still relevant, that is a perfectly reasonable place to start.
How often should an aging parent review their estate plan?
There isn't one schedule that works for every family. A review is especially appropriate after a significant change in health, family, finances, property, decision-makers, or personal wishes.
Some families may go years without needing substantial changes. Others may need to revisit their plan several times because their circumstances change.
The goal isn't to rewrite documents unnecessarily. It is to make sure the plan continues to reflect what your parent wants and that the people involved understand their roles.
If you're starting from scratch rather than reviewing an existing plan, you can also read What Estate Planning Documents Should Maryland Parents Have in Place?.
Frequently Asked Questions
Should elderly parents update their power of attorney?
They should consider reviewing it when the person named as agent is no longer the right choice or when their financial circumstances or wishes have changed. A power of attorney is an important part of planning for a time when your parent may need someone else to handle financial matters.
Does my aging parent need a trust?
Not necessarily. A revocable living trust or another type of trust may be appropriate in some circumstances, but estate planning should be based on the individual's assets, family, goals, and needs rather than age alone.
Should my parent update their will after retirement?
Retirement by itself does not necessarily require a new will. However, retirement can coincide with changes in assets, property, income, beneficiaries, or where someone lives, making it a reasonable time to review the overall estate plan.
What happens if my parent becomes unable to manage their affairs?
The answer depends on the documents your parent has in place and the circumstances involved. Financial powers of attorney and advance medical directives can be important parts of planning for incapacity, which is why reviewing these documents before a crisis can be valuable.
Can an estate planning attorney come to my parent's home in Maryland?
Yes. Dawn Trainor-Fogleman provides mobile and in-home estate planning services throughout her Maryland service area. This can be particularly helpful for older adults who find traveling to a traditional law office difficult or inconvenient.
Can adult children attend an estate planning appointment?
They may be able to participate when the parent wants them involved, but the parent's wishes and decisions remain central to the estate planning process. An attorney can help make sure the parent understands the documents and is making their own decisions.
Is It Time to Have Your Parent's Estate Plan Reviewed?
If your parent has an older will, a power of attorney naming someone who can no longer serve, changed family circumstances, new property, or health concerns, you don't have to figure out whether the existing plan still works on your own.
Dawn Trainor-Fogleman can review your parent's existing estate planning documents, explain what they do in plain English, and help determine whether changes are appropriate. Mobile and in-home appointments are available throughout her Maryland service area, which can be especially helpful when an aging parent has difficulty traveling.
Schedule a Free Initial Consultation with the Law Office of Dawn Trainor-Fogleman to discuss your parent's estate plan and determine what steps, if any, make sense for your family.