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As the year wraps up, now is the perfect time to look over your estate plan and make sure everything still reflects your wishes. Life changes quickly—and estate planning documents should evolve along with major life events, financial changes, and family needs.

Whether your plan is brand-new or several years old, these six steps can help ensure you’re heading into 2026 protected and prepared.

 

1. Review Your Living Trust and Will

Your core estate planning documents should always match your current circumstances. Consider whether this year brought:

• A marriage, divorce, or separation
• A birth or death in the family
• A change in your financial situation
• The purchase or sale of property, especially real property (houses)
• A shift in who you trust to manage your affairs

A quick year-end review can help prevent future conflicts and ensure your intentions are clear.

 

2. Confirm and Update Beneficiary Designations

Beneficiary designations on retirement accounts, life insurance policies, annuities, and some bank or investment accounts typically control who receives those assets—not your will or trust.

This is why many people are surprised to discover outdated designations such as:

• An ex-spouse still listed
• A new child or grandchild omitted
• A trust intended to receive assets but never actually added
• Missing contingent beneficiaries

Year-end is an ideal moment to review these forms and make sure they line up with your overall plan.

 

3. Revisit Your Powers of Attorney and Health Care Directive

Your Financial Power of Attorney and Advance Health Care Directive only work if:

• They name the right people
• Those people are still willing and able to serve
• Your instructions remain accurate
• The documents meet current state requirements

If anything has changed—or if it’s been years since you’ve looked at them—consider updating these documents before the new year begins.

 

4. Make Sure Your Trust Is Properly Funded

A trust only works as intended if your assets are titled correctly. Common oversights include:

• Real estate (houses) not transferred into the trust
• Investment or bank accounts titled individually rather than in the trust
• Business interests not updated
• New accounts opened during the year but never added

Taking time to verify trust funding now can help avoid probate issues later.

 

5. Consider Year-End Gifting and Tax Planning

Year-end is always a good time to check in with your tax professional about whether gifting or other strategies align with your financial and estate goals.

Even without focusing on specific exemption numbers (which can change with new laws), year-end planning may help you:

• Support children or grandchildren
• Reduce the size of your taxable estate
• Make charitable gifts before the close of the tax year
• Take advantage of the annual gift tax exclusion for the current year

Because federal tax laws and exemption amounts can shift, it’s wise to confirm the current limits with your tax advisor before making large gifts.

 

6. Organize Your Documents and Share Key Information

One of the most impactful year-end tasks is simply getting organized. Make sure:

• Your documents are stored in a secure but accessible place
• Your executor, trustee, or agents know where to find them
• Your digital accounts and passwords are accounted for
• You maintain an updated list of financial accounts and major assets

This gives your loved ones clarity and peace of mind when they need it most.

 

Start the New Year with Confidence

A strong, up-to-date estate plan allows you to step into the new year knowing your wishes will be honored and your loved ones protected.

If you’d like help reviewing your estate plan or making updates before 2026, Herbert Law Office is here to guide you every step of the way.

Call us at (661) 273-9007 to schedule your free consultation today to ensure your plan is clear, current, and ready for the year ahead.