2024 was eventful. That is an understatement. I think 2025 won’t disappoint us in that department either. There will be uncertainty at a minimum on many fronts. However, I firmly believe that we can all take steps to help provide ourown peace of mind, even if things get rocky. That would include maintaining close ties to loved ones and friends and reconnecting with those we’ve lost touch with. Trying to stay healthy by eating right and exercising can help us stay mentally fit. As an estate planning attorney, I recommend ensuring your estate plan is up-to-date. That act, which can be very simple, can go a long way in providing comfort as we move into the new year. I would advise you to take a few minutes to consider what has happened in the past year or two that impacted your life and, therefore, your plan and what may happen going forward. The following is a super quick eight-point checklist to review. If one or more of these events have happened recently or you think may happen, give me a call so we can make sure your plan will still meet your needs and the needs of your loved ones.
- Have you married, divorced, or lost a spouse in the past year or so? Do you plan to marry or divorce in 2025?
- Have you added a new family member? This could apply to both children and pets.
- Did you inherit significant assets, or do you think you might soon?
- How about retirement? Did you retire recently or plan to do so in 2025?
- Do you have aging parents? Will they need a lot of your time and support? Will they be moving in with you or into senior living? Do you know if their estate plan is up-to-date?
- Have any of your beneficiaries or executors died or become estranged from you?
- Have any of your adult children (presumably beneficiaries) developed addictive habits (gambling, drugs, alcohol, etc.) that now make you hesitant about leaving your assets to them?
- Have you had a change of heart about your living will (maybe the idea of artificial life support is no longer appealing) or final arrangements?
If any of these strike a chord with you, give me a call. We can discuss and update your plans as needed, so regardless of what happens out in the world in 2025, you’ll know you have done what you can to protect your hard-earned assets and loved ones.
Until I hear from you, I wish each and every one of you a safe, healthy, and happy 2025.
I wish you all the best for 2025!
David