The start of a new year is an ideal time to review your estate plan. Here’s a quick checklist to help guide the process:

1. Review Beneficiary Designations

• Confirm your listed beneficiaries for life insurance policies, retirement accounts, and other financial assets are up-to-date.

• Update designations if there have been any life changes, like a marriage, divorce, birth, or death.

2. Update Incapacity Planning Documents

• Ensure your Powers of Attorney reflect your current preferences and designate trusted individuals.

• Review and update your Health Care Directive to ensure your medical wishes are clearly outlined.

3. Reassess Asset Distribution

• Confirm your will or trust reflects your current intentions for asset distribution.

• Consider whether changes in tax laws or family dynamics warrant updates.

4. Check Guardianship Designations

• If you have minor children, ensure guardianship designations in your will and emergency documentation are still appropriate.

5. Inventory Your Assets

• Update the list of your assets, including real estate, investments, and personal property.

6. Consider Recent Changes in Laws

• Stay informed about any legal changes that could affect your estate plan and discuss them with your attorney.

Starting the year with a thorough review ensures your plan remains aligned with your goals and provides peace of mind for the future. Reach out to Provision Law Firm today for a free consultation!