As the year winds down, it is easy to get caught up in the holidays, family activities, and work obligations. But before the calendar flips, this is the perfect time to focus on what matters most, protecting your loved ones and securing your legacy through thoughtful planning. A few simple steps today can make a world of difference tomorrow.
Whether you already have a Florida estate plan in place or are just getting started, reviewing your planning before year-end ensures your wishes are honored and your family is supported. The good news is you do not have to tackle everything at once. Start with these three essential steps that can help you enter the new year with peace of mind.
1. Review your last will and testament and trust agreement
If you already have a last will and testament or a trust agreement, now is a great time to revisit it. Has anything changed this year? A new baby, a marriage or divorce, or even a change in financial goals may impact how you want your assets distributed. This is also a good time to confirm that your fiduciaries, such as guardians for minor children or trustees, are still the right people to carry out your wishes.
2. Check your beneficiary designations
Some of the most important planning tools are not part of your estate planning documents. Life insurance policies, retirement accounts, and other financial tools all pass directly to the person you name as a beneficiary. If you have not reviewed your designations recently, take a few minutes to confirm they align with your estate planning goals. This quick step can help avoid future confusion or delays for your loved ones.
3. Ensure your durable powers of attorney and health care planning tools are current
A strong Florida estate plan includes more than instructions for what happens after death. Durable powers of attorney and health care planning tools are essential for protecting you and your family during your lifetime. These tools allow someone you trust to step in and manage your finances or make medical decisions if you cannot do so. If you created these documents years ago, they may need to be updated to reflect your current preferences and comply with recent legal changes.
