Know How to Start your New Year Right – Update your Estate Plan!

A New Year Estate Plan Checklist is the best way to avoid the common error of an out-of-date will.

Do you know what is worse than not having an estate plan?  It is having an estate plan that is not up-to-date! Estate planning is probably the single most important action you can do to make sure your wishes are honored if you become incapacitated and after you pass away. Failing to regularly update your estate plan could prove to be very costly. So consider starting your new year right by updating your estate plan with a qualified Florida estate planning attorney. We would like to suggest the following New Year Estate Plan Checklist as you update your estate plan:

1. Review and update your will or trust documents to ensure they reflect your current wishes.

2. Make sure you have a durable power of attorney for financial matters and a healthcare power of attorney in case you become incapacitated due to an accident, surgery or some other cause.

3. Review your beneficiaries on your retirement accounts, insurance policies, and other financial accounts.

4. Consider gifting assets to reduce your potential estate tax liability.

5. Make arrangements for the care of any minor children or dependents.

6. Review and update your funeral and burial plans.

7. Consider setting up a trust to manage assets for beneficiaries.

8. Review your long-term care plans and options.

9. Consider the use of life insurance to provide for loved ones.

10. Meet with a qualified Florida estate planning attorney to ensure that your estate plan is up-to-date and properly executed.

Items on the New Year Estate Plan Checklist can be dealt with strategically, and legally, with the help of a qualified Florida estate planning attorney. Get a jump start on the new year. Our estate planning law firm takes a very different approach from what you might have come to expect. Our goal is to create lifelong relationships with each of our clients, to guide and manage your legacy for the rest of your life. Please contact our offices in Stuart and in Palm City to learn more.  Call: 1 (772) 266-5108

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