Estate Planning in the New Year

As we enter 2024, many of us are considering our resolutions for the new year. While these resolutions often focus on personal health or fitness goals, it is equally important to establish estate planning goals. The new year is the perfect opportunity to review your existing estate planning documents and ensure everything is still in accordance with your wishes, particularly as affected by the previous year's events.

Significant life events from the past year may necessitate a thorough review of your estate planning documents. Consider moments such as marriages, divorces, births, or adoptions within your family or among those named in your estate plans. Additionally, milestones like a child reaching adulthood or unexpected events like serious illnesses or deaths may require updates to the estate planning documents.

Relationship dynamics, financial shifts, and alterations in residence can also impact your estate plans. Whether initiating or ending romantic or familial relationships, dealing with substantial financial transactions, or navigating changes in state tax laws, each shift demands a reevaluation of your estate planning strategy. Even moving to a different state could impact significant parts of your estate plan.

A proactive approach to estate planning helps to ensure clarity and peace of mind. In embracing the new year, consider estate planning not merely as a task, but as a crucial step towards securing what matters most. By dedicating attention to these details, you're not only setting a course for your future but also providing a roadmap for your loved ones, easing their burdens during difficult times.

The new year provides an ideal time to create or reevaluate your estate planning documents. To ensure your plan accurately reflects your current assets and wishes, seeking professional legal assistance is imperative. At O'Brien Law, our dedicated team is committed to assisting you in creating a comprehensive estate plan tailored to your unique needs and objectives. Contact us at O’Brien Law today to schedule a consultation and get a started on your new year’s estate planning resolution!