NATIONAL ESTATE PLANNING MONTH: Why Now Is the Perfect Time for a Year-End Review
October is National Estate Planning Month, making it the ideal moment to pause and ensure your estate plan is in order before the year comes to a close. Whether you already have a plan in place or you’ve been meaning to get started, now is the time to review, update, and optimize so your loved ones are fully protected in the new year.
At Your Hometown Attorney™, we believe estate planning is about more than just documents. Rather, it is about creating peace of mind, protecting your legacy, and ensuring your wishes are carried out exactly as you intend.
Why a Year-End Review Matters
Life doesn’t stand still, and neither should your estate plan. Circumstances change, laws evolve, and your goals may shift. A year-end review helps you identify gaps, confirm your wishes are current, and adjust for any changes in your family or finances.
Think of it as a financial and legal “check-up” that can prevent costly mistakes and future disputes.
Key Tasks for Your Year-End Estate Plan Review
✅ Update Beneficiary Designations
Life events such as marriage, divorce, births, deaths, falling outs, and even addictions may affect who you wish to inherit your assets and legacy. Double-check that retirement accounts, insurance policies, and transfer-on-death beneficiary designations are accurate and that real estate is titled appropriately. This is especially important if you have established a Trust.
✅ Review Your Will & Trusts
Do your documents still reflect your wishes? Have you acquired new property or assets that should be included? Have family dynamics shifted such that you need to change beneficiaries or how assets will be handled? If you’ve set up a trust, confirm it is properly funded and aligned with your current estate planning goals.
✅ Check Powers of Attorney & Healthcare Directives
Ensure the individuals you’ve appointed to act on your behalf are still the right choice and living. Updating these documents can prevent confusion during a crisis.
✅ Review Guardianship Designations
If you have minor children, verify that guardianship arrangements remain appropriate. As relationships and circumstances evolve, this may need to change.
✅ Consider Tax Planning & Charitable Giving
Year-end is also a strategic time to revisit tax planning strategies, charitable donations, and ways to reduce your estate’s potential tax burden.
The Role of an Estate Planning Attorney
While some updates may seem straightforward, estate planning involves many moving pieces. An experienced estate planning attorney can:
Ensure documents comply with current state and federal laws
Help avoid unintended tax consequences
Provide strategies to minimize the chance of probate
Spot gaps you may overlook on your own
Guide you in aligning your estate plan with your broader financial and family goals
At Your Hometown Attorney™, we partner with you to make sure your plan is not only legally sound but also personally meaningful.
Start Fresh or Update Your Plan Today
If you already have an estate plan, National Estate Planning Month is the perfect reminder month to review and refresh it. If you don’t, now is the time to start as waiting only increases the risk that your wishes may not be carried out.
Whether you’re updating existing documents or creating your first plan, Your Hometown Attorney™ is here to help you protect your family, your assets, and your legacy.
Don’t leave your future to chance. Contact Your Hometown Attorney™ today to schedule your estate planning consultation and enter the new year with peace of mind.
