By Chad Brueckner, Arvest Trust Officer and Vice President
Change is constant – families, finances, your priorities, and, of course, tax laws. If you have a trust and estate plan, it needs to be reviewed periodically to ensure it reflects how you want your assets to be handled in the future.
Here’s why it’s a smart practice to review your trust and estate plan regularly and how you can navigate these important discussions with family.
- Significant life events, such as births, marriages, divorces or deaths, can alter your family’s structure, necessitating new beneficiary designations or other changes in your trust or will.
- Ambiguous or outdated estate documents can cause family disputes. Regular reviews can bring clarity about your intentions and avoid confusion.
- Your plan should reflect your current portfolio and recent changes in your financial situation, such as acquiring property, selling investments, starting a business, or receiving an inheritance.
- Annual reviews help you adjust to recent estate-planning changes, including the One Big Beautiful Bill Act, which permanently raises the federal estate, gift, and GST tax exemption to $15 million per person starting in 2026. Even with the higher federal exemption, strategic gifting and regular planning are valuable for shifting future asset growth out of your estate and limiting exposure in states that impose their own estate taxes.
- Use a checklist similar to what we use at Arvest:
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- Beneficiary designations: Are all beneficiaries correct, and do they still align with your current wishes?
- Trustees, executors and powers of attorney: Are the people you’ve chosen still willing, able, and the best fit for these roles?
- Asset coverage: Does the plan cover all significant assets, including recently acquired ones?
- Healthcare directives: Are medical directions and power-holders up to date with your values and preferences?
- Tax considerations: Do you need to adjust for changes in estate tax thresholds or state-specific laws?
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- When discussing your estate plan with your loved ones, consider these tips to alleviate stress and avoid confusion:
- Choose the right time and place. Plan a calm, uninterrupted setting, outside of a high-stress occasion, to discuss your intentions. If a holiday gathering is the only time you will have access to some family members, consider scheduling some time before or after the main family activity.
- Frame it as care for the family. Emphasize that you intend to make things easier for your loved ones by removing uncertainty and avoiding disputes.
- Be selective about details. Share your goals and choices broadly rather than itemizing every aspect to provide clarity without overwhelming or creating tension.
- Engage a professional. In addition to an experienced estate planning attorney, an Arvest Trust Officer can be especially helpful in filling in some of the blanks and answering common questions.
Reviewing your trust and estate plans annually is one of the most meaningful ways to protect the people you care about. It can save your family time, stress and unnecessary conflict down the road. With clear, up-to-date documents and open communication, you can better protect your assets, maximize available financial and tax advantages and ensure your wishes are honored.
Chad Brueckner can be reached at rbrueckner@arvest.com.
With more than $27 billion in assets, Arvest is a full-service bank that delivers financial solutions to individuals and businesses of all sizes. Since entering the Kansas City market in 2009, Arvest has grown to become one of the top 20 banks and the sixth-largest mortgage lender in the region. The bank has 20 locations in the metro area, including eight in Johnson County.
Trust services provided by Arvest Bank.
Arvest and its associates do not provide tax or legal advice. Arvest Wealth Management, Member FINRA/SIPC.
Investments and Insurance Products: Not a Deposit, Not Guaranteed by the Bank or its Affiliates, Not FDIC Insured, Not Insured by Any Federal Government Agency, May Go Down in Value.
