Headlines are filled with cautionary tales about families who find themselves in drawn-out legal disputes when a loved one’s outdated estate plan leaves critical details up in the air. The emotional and financial toll can be enormous, often hitting home just when relatives need support the most.
If your own estate plan hasn’t been refreshed recently—or if you haven’t created one at all—you might be exposing your loved ones to these same risks. As we roll into 2025, now is the time to take a proactive step and ensure your legacy is protected.
Updating (or creating) your estate plan at the start of the new year can offer peace of mind, ensuring your legacy reflects your current relationships, values, and goals.
Below, we outline five compelling reasons why giving your estate plan some attention might be the most important resolution you make this year.
1. New Life, New Rules: Adapt to Big Changes
Life never stands still—and your estate plan shouldn’t either. Think about the major milestones you might have experienced in 2024. Did you:
Celebrate a marriage or welcome a new family member?
Experience a divorce or the loss of a loved one?
Acquire a new home or start a business?
All of these events require updates to your legal documents.
For instance, if you remarried, you may need to change beneficiary designations on your life insurance policy or update your will so it accurately reflects your new family structure.
If you welcomed a child into your family last year, you’ll want to establish or update a guardianship plan—Entrusted Legacy Law’s unique Kids Protection Planning offers peace of mind, ensuring your children will always be cared for by the people you trust most.
Helpful Tip:
Create a “milestone checklist.” Review your estate plan any time a major life event occurs—birth, marriage, death, divorce, or major financial change. This proactive step helps keep your plan aligned with your current wishes.
2. Tax Laws Aren’t Timeless: Stay Ahead of the Curve
Although Entrusted Legacy Law does not offer tax planning services, we strongly encourage clients to stay aware of evolving tax laws. Changes in federal or state legislation—such as estate or inheritance tax thresholds—can significantly impact the administration of your estate. If you have questions or concerns about how these changes might affect you, consulting a qualified tax professional is essential.
Coordinate with a CPA or tax advisor to learn about any adjustments you should consider.
Stay informed about new legislation that could affect your estate’s value and distribution.
Review your beneficiary designations with each relevant financial institution to ensure they’re up to date in light of any tax implications.
Helpful Tip:
Schedule an annual check-in with both your estate planning attorney (for legal updates) and your tax professional (for financial and tax-specific guidance). Together, they can help ensure your overall plan stays on track.
3. Guardianships, Trusts & Wishes: Secure Your Legacy
Remember, estate planning isn’t just about money—it’s about people, your values, and the legacy you leave behind. From naming the right guardians for your children to ensuring your trust beneficiaries are up to date, regular reviews of these key components are essential.
Guardian Considerations
Are your chosen guardians still willing and able to care for your children?
Does your plan name contingent (backup) guardians in case your primary choice can’t serve?
Trust Beneficiaries
Do your current beneficiaries align with your relationship status?
Have you considered adding or removing certain provisions (e.g., spendthrift clauses, special needs planning)?
By scheduling a thorough review with our team, you can safeguard your children’s future, prevent unintended heirs from receiving assets, and ensure your personal wishes are honored.
Helpful Tip:
Communicate your wishes. While you don’t need to share every detail, having open conversations with close family members reduces surprises and eases the administration of your estate later.
4. Digital Footprint Cleanup: New Year, New Tools
In an age where so much of our daily life happens online, digital asset planning is more important than ever. From email and social media to cryptocurrency and online business accounts, these assets need clear instructions for access and management in the event of your incapacity or death.
Why It Matters
Prevent identity theft by specifying who can manage or shut down your accounts.
Preserve important documents and memories stored on cloud drives or social platforms.
Ensure continuity of online businesses or financial platforms that might hold monetary value.
At Entrusted Legacy Law, we recommend secure password managers and estate planning apps that simplify organizing and tracking online accounts. These tools make it easy for your chosen executor or trustee to handle your digital assets seamlessly.
Helpful Tip:
Keep a list of your online accounts and update it annually. Many people forget about old social media profiles, subscription services, or digital wallets, which can become a burden for loved ones later.
5. Procrastination Is the Real Threat: Make 2025 Your “Wake-Up Call”
No one likes to think about worst-case scenarios, but putting off or neglecting an estate plan can create tremendous difficulties for your family. Delays or outdated information can lead to:
Extended probate proceedings in court.
Unintended beneficiaries receiving assets.
Costly and avoidable estate or inheritance taxes.
Disputes among family members, especially during times of grief.
Let the start of 2025 be the reminder you need to ensure your estate plan is up to date. By acting now, you not only protect your family and legacy, but you also gain the peace of mind that comes with knowing you’ve done everything possible to avoid unnecessary complications.
Helpful Tip:
Mark your calendar for an annual estate plan review. If you only do one legal check-in per year, make it this one—it can save immense time, money, and stress later.
A Fresh Start for Peace of Mind
As you welcome the new year, give yourself (and your loved ones) the gift of proactive planning. Estate planning isn’t just about financial security—it’s about ensuring that your wishes are honored, your loved ones are cared for, and your legacy reflects what matters most to you.|
How Entrusted Legacy Law Can Help Update Your Estate Plan
At Entrusted Legacy Law, we provide:
Comprehensive Kids Protection Planning to keep your children safe if the unthinkable happens.
Tailored Asset Protection Strategies to maximize your wealth and minimize tax liability.
Flat-Fee Pricing & VIP Memberships so you always know exactly what you’re getting and what it costs—no surprises.
Ongoing Support to keep your plan current as life evolves, including annual membership programs for continuous plan maintenance.
We understand that estate planning is deeply personal, and our compassionate, client-centered approach ensures your plan fully aligns with your goals and values.
Ready to Take the First Step?
Don’t wait for a life event or legal deadline to remind you of the importance of estate planning. Contact Entrusted Legacy Law today to schedule your virtual or in-person consultation and start your year with confidence. Together, we’ll create or update a plan that meets your family’s needs and keeps your legacy secure—no matter what the future holds.
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