Is Your Estate Plan Up to Date? The Mid-Year Checkup Guide

Posted By in blog, Estate Planning, Last Will, Living Trust, Power of Attorney, Trusts

As we reach the midpoint of the year, it’s an ideal time to pause and review your estate plan. Life can change in unexpected ways, and ensuring your estate plan remains current is crucial to protecting your legacy and providing for your loved ones.

Top Five Mid-Year Checkup Tips for Your Estate Plan

1.Review Major Life Changes
 Overview: Have you experienced any significant milestones or changes—such as a new family member, career shift, or relocation? Your estate plan should reflect these updates.
 

Key Actions:

  • Update beneficiary and asset distribution information
  • Reevaluate roles like executor or trustee


2. Assess Document Accuracy and Completeness
 Overview: Mistakes or outdated language in legal documents can lead to complications later on. A mid-year review helps catch these issues early.

 

Key Actions:

  • Conduct a thorough review of your will, trust, and other key documents
  • Ensure all documents are properly executed and notarized if needed


3.Confirm Healthcare Directives and Powers of Attorney
 Overview: As personal circumstances change, your healthcare wishes and powers of attorney might need revision to ensure they still align with your current desires.

 

Key Actions:

  • Update or reaffirm your advance healthcare directive
  • Confirm that your designated proxy or power of attorney is still the best choice 

4.Update Digital and Financial Assets
 Overview: In the digital era, your online accounts and financial assets require careful documentation to ensure seamless access by your beneficiaries.

 

Key Actions:

  • Create or update an inventory of digital assets
  • Reevaluate financial accounts and beneficiary designations for accuracy 

5.Plan for the Unexpected
 Overview: Life is unpredictable. A proactive estate plan includes provisions for potential incapacity and unforeseen changes, offering flexibility and security.

 

Key Actions:

  • Incorporate or review a living trust
  • Ensure your estate plan has contingencies for unexpected events 

Conclusion & Call to Action

Don’t leave your legacy to chance. A mid-year estate plan checkup can help ensure that your wishes are carried out exactly as you intend. Contact Greene Law Firm to perform your estate plan checkup and make any necessary updates. Call 415-905-0215 or email info@greenelawfirm.com today.

 

Statements In Compliance with California Rules of Professional Conduct:
The materials in this article are for educational purposes only and are not legal advice. Consult an estate planning attorney for personalized guidance.

Jay Greene, Esq., CPA, is the founder of Greene Law Firm, P.C. in San Francisco, helping individuals, couples, and families secure their future.

For more information, visit: https://assetprotectionbayarea.com