A change in employment is an important milestone—especially for government employees. Whether you’re transitioning to a new agency, moving to a different sector, or retiring, updating your estate plan should be at the top of your to-do list. Here’s why and how you should review your estate plan after a job change.

Why Review Your Estate Plan?

Government jobs often come with unique benefits, including pensions, life insurance policies, and retirement plans. When you switch jobs, your benefits may change, requiring updates to your estate planning documents to ensure your wishes are properly accounted for.

1. Beneficiary Designations – Your retirement accounts, pension plans, and life insurance policies likely list beneficiaries. After a job change, confirm that these designations align with your current wishes.
   
2. New Employer Benefits – Some government agencies offer different perks such as survivor benefits or long-term care insurance. Understanding these changes helps ensure your estate plan is optimized.
   
3. Changes in Income & Assets – A salary increase, bonus structure, or new investment opportunities may affect your estate’s tax implications and distribution strategies.
   
4. Legal & Policy Shifts – Some government roles impose restrictions on outside income, gifts, or financial holdings. Ensure compliance by consulting a professional.
   

Key Documents to Update

1. Will & Trusts – Ensure your will reflects new assets or revised distribution preferences. If you have a trust, update its funding and terms to match your latest financial situation.
   
2. Power of Attorney (POA) – If you’ve relocated or changed financial institutions, update your POA to reflect the most suitable agent.
   
3. Healthcare Directives – If your employer provides different healthcare coverage or options for long-term care, adjust your medical directives accordingly.
   
4. Retirement Accounts & Pensions – Verify that your pension, Thrift Savings Plan (TSP), or other retirement accounts align with your estate planning goals.
   

Steps to Take

1. Review Employer Benefits – Consult with your HR department to understand the changes in your benefits and how they impact your estate plan.
2. Meet with an Estate Planning Attorney – Legal professionals can help tailor your plan based on your new employment status and financial situation. Visit Anton Legal for expert guidance on estate planning.
3. Update Key Documents – Work with professionals to revise your will, POA, trusts, and beneficiary designations.
4. Inform Loved Ones – Ensure that your chosen executors, trustees, and family members are aware of any changes.

Final Thoughts

Government employees have unique financial and legal considerations when transitioning to a new job. Proactively updating your estate plan ensures that your assets are distributed according to your wishes and that your loved ones are protected. Don’t wait—take the necessary steps to secure your legacy today! For professional assistance, visit Anton Legal.