Estate Plan Holiday Checklist

Older woman embracing her adult daughter at the dinner table

The holiday season is here! While it’s important to check off items such as meal preparation and what gifts you might be giving, another item should also be on your checklist — reviewing your estate plan.

While many may not think the most wonderful time of the year should also include reviewing your estate plan, it’s simply not the case. In fact, it’s important to review your estate plan at least once a year. So before you change your calendar to celebrate the new year, make sure you’ve checked the following items.

Will Checklist Graphic

Any Life Changes Are Reflected in My Estate Plan

This could include welcoming a new family member, the passing of a family member, a new bank account, or a new property purchased. You should include any significant life changes that happened over the past year and will impact the future of your loved ones after your passing.

Reviewed My Beneficiaries

Going off of any life changes, if any life changes involve your beneficiaries, it’s critical to make sure your estate plan is updated with that information.

My Successor(s) Are Up-To-Date With My Wishes

You may have had an initial conversation with your successor or successors once you created your estate plan. While talking about your estate plan might not be the best topic of conversation at the dinner table during your holiday celebration, when family members come together (especially those who you don’t see often) it’s crucial to reiterate your wishes and if the successor or successors will honor them. If you have any hesitation that your wishes may not be honored, it might be time to make a change to your estate plan.

Guardian(s) for My Children Are Still Qualified

A lot can change from the time you ask someone to be the guardian of your minor children to the present day. If you have designated a family member or friend to be the guardian of your children should something happen to you, it’s imperative to check in about this significant responsibility at least once a year.

Document Mental Capacity

While you may feel fine and healthy now, one incident could change your life forever. When reviewing your estate plan, ensure that you have a statement of competency from a doctor and have this affirmed once a year to keep it current.

This list is a great starting point for those who have an estate plan already. This list can seem intimidating for others who don’t have an estate plan in place. When you work with Jerimy Kirschner & Associates, PLLC, we take the worry away. We have helped thousands with their estate plan and will create a customized plan that is specific to your needs. With a free estate planning consult, there is no reason not to learn more about how Jerimy Kirschner & Associates, PLLC can help you. Reach out to us today online or by phone — (206) 203-8802.

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