Celebrity Estates: Wills of the Rich and Famous

Celebrity Estates: Updating Estate Plans Through Life’s Milestones

15 snips

Oct 20, 2025

Matthew Erskine, a fourth-generation estate planning attorney and owner of The Erskine Company, dives into the evolving world of estate planning. He emphasizes that life events like marriage, divorce, and relocation necessitate regular updates to estate plans. Communication among family members is crucial to prevent future disputes. Erskine also highlights the need to adapt to changes in laws and taxes, treat estate plans as living documents, and the value of annual reviews to ensure everything remains current and relevant.

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ADVICE

Make Estate Planning Ongoing

Review estate plans regularly because circumstances and laws change constantly.
Update documents to retain control and avoid losing control over assets.

ADVICE

Update Plans After Births Or Adoptions

When a child is born or adopted, add guardianship and adjust beneficiary arrangements promptly.
Use vehicles like 529s or UGMA/UTMA for gifts to minors to preserve and compound assets.

ADVICE

Rework Documents For Marriage Or Divorce

Revisit prenuptial, buy-sell, and estate documents on marriage or divorce to reflect new rights and agreements.
Treat post-divorce situations as effectively scrapping and rebuilding the estate plan.

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Life changes, and your estate plan should change with it. Attorney Matthew Erskine joins the Celebrity Estates podcast to explain why estate planning is never a “set it and forget it” process, but a lifelong practice that evolves alongside major milestones.

Matthew walks through key life events from marriage and divorce to relocation and retirement and shares how each can reshape a client’s estate strategy. Drawing from years of experience, he highlights how small updates, communication and awareness of changes in the law can prevent major family disputes.

Join Senior Editor David Lenok and Matthew Erskine, ower of The Erksine Company, as they discuss how to keep estate plans living, relevant and aligned with every stage of life.

David and Matthew discuss:

Why every major life event, from marriage to relocation, should trigger a review of your estate plan
The importance of communication between family members to avoid future conflicts
How to handle estate planning for beneficiaries facing personal challenges
The impact of tax and law changes on existing estate documents
Why advisors should treat estate plans as “living documents” and revisit them annually

Resources:

Listen to Celebrity Estates on WealthManagement.com
Subscribe and listen to Celebrity Estates on Apple Podcasts
Subscribe and listen to Celebrity Estates on Spotify
Trust and Estates Magazine
Estate Plan Update Checklist by Matthew Erskine

Connect With David Lenok:

Connect With Matthew Erskine:

About Our Guest:

Matthew F. Erskine is an approachable, empathic estate and succession planning attorney who creatively and holistically solves families’ unique asset and estate needs. He is the fourth generation of lawyers known for integrity and personal service. Matt concentrates on providing legal and fiduciary services for families with basic estates as well as real estate, unique assets, or a family business. Unlike most trust and estate attorneys, Matt’s focus is on ensuring financial security while preserving the ownership of unique but often illiquid assets for the client and family.