New Year, New Peace of Mind: Update Your Estate Plan in 2025

As we step into 2025, it's the perfect time to revisit and update your estate plan. Whether you're starting anew or making adjustments, ensuring that your plans reflect your current wishes and circumstances can provide immense peace of mind. Here's how to approach your estate planning this year:

Review Your Current Documents

Begin by reviewing your will, trusts, powers of attorney, and any healthcare directives. Life changes such as marriages, divorces, births, or changes in financial status should be accurately reflected to ensure your wishes are honored.

Update Beneficiary Designations

Check the beneficiary designations on your insurance policies, retirement accounts, and other financial holdings. This step is crucial, as these designations override any instructions in your will.

Consider Tax Implications

The new year may bring shifts in tax laws that affect your estate plan. Consider consulting with a tax advisor to understand any changes that might impact your estate's future tax obligations or benefits.

Secure Your Digital Legacy

In our digital age, make sure your digital assets—such as social media accounts, digital currencies, and online memberships—are accounted for and accessible. Coordinate with your successor trustee/executor to manage these assets according to your wishes.

Updating your estate plan is not just about safeguarding your assets; it's about ensuring your family's future comfort and reducing stress during challenging times. Begin your 2025 with the assurance that your estate plan truly reflects your intentions.