Computing the shortest path between a pair of vertices in a graph is a fundamental primitive in graph algorithmics. Classical exact methods for this problem do not scale up to contemporary, rapidly evolving social networks with hundreds of millions of users and billions of connections. A number of approximate methods have been proposed, including several landmark-based methods that have been shown to scale up to very large graphs with acceptable accuracy. This paper presents two improvements to existing landmark-based shortest path estimation methods. The first improvement relates to the use of shortest-path trees (SPTs). Together with appropriate short-cutting heuristics, the use of SPTs allows to achieve higher accuracy with acceptable time and memory overhead. Furthermore, SPTs can be maintained incrementally under edge insertions and deletions, which allows for a fully-dynamic algorithm. The second improvement is a new landmark selection strategy that seeks to maximize the coverage of all shortest paths by the selected landmarks. The improved method is evaluated on the DBLP, Orkut, Twitter and Skype social networks.