Year-End Estate Planning Checklist

November and December are busy times of year, but double-checking your estate plan is worth fitting into your holiday schedule. Remember that your estate plan isn’t a ‘set it and forget it’ document; it needs regular attention, especially when life changes.

Before 2026, take a moment to make sure your estate plan reflects your current life and goals. Taking a few hours now can save your loved one’s significant time, expense, and stress later. A little preparation now = a smoother start to 2026.

The holidays bring families together and it’s the perfect time for thoughtful conversations about the future. Whether it’s your legacy, your wishes, or simply where the family recipe book goes, it’s worth talking about.

Here are five crucial tasks we recommend completing before the year is out:

1.       Review your will and trust

Life doesn’t stand still, and neither should your estate plan. Have you gotten married, divorced, had a new child, or moved to a different state? Have relationships with your named beneficiaries or executors changed? Have your assets increased or changed in type (e.g., from property to a new business)?

Make sure your documents reflect your current wishes, relationships, and assets. If your will or trust is more than a few years old or significant life events have occurred, it’s time for a review. Your plan should adapt as your life does!

2.       Update Beneficiaries

This is often the most overlooked —and most critical —step. Wills and trusts do not control assets that pass by contract or title. For assets like life insurance policies, retirement accounts (401(k)s, IRAs), and Payable-on-Death (POD) or Transfer-on-death (TOD) accounts, the beneficiary forms you signed with the financial institution dictate who inherits the asset.

Double-check who is listed as the primary and contingent beneficiary on all these accounts. Consult an attorney regarding listing your Trust as the contingent beneficiary, and possibly the primary beneficiary of those life insurance policies.  

3.       Revisit Powers of Attorney & Healthcare Directives

Estate planning isn’t only about what happens after you pass away; it also details who cares for you if you become incapacitated. Powers of Attorney (Financial and Healthcare) and Healthcare Directives (Living will) name the people who can make critical decisions on your behalf.

Ensure the people you’ve named to make decisions for you are still the right choice. Are they still willing and able to serve? Do they still live nearby? A quick confirmation ensures your chosen decision-makers are prepared and up to date.

4.       Check Asset Titles and Ownership

How your assets are legally titled determines how they pass upon your death.  If you have established a Trust, you must confirm that real estate, vehicles, and bank accounts are properly titled in the name of the Trust. An excellent written Trust has no authority to distribute your assets if it’s empty!

Verify all your major assets have the correct legal title and ownership structure.  This alignment is vital for avoiding probate and ensuring your overall plan works as intended.

5.       Plan Charitable Gifts or Year-End Giving

Year-end is a perfect time to think about supporting the causes you care about.  If philanthropy is part of your long-term plan, consider tax-smart ways to make year-end charitable contributions, such as qualified charitable distributions (QCDs) from an IRA or setting up a donor-advised fund.

A thoughtful giving strategy can support your favorite charities now, reduce your current tax burden, and leave a legacy of generosity for the future.

Don’t let your estate plan gather dust!  At Lubnau Law, we are here to help you review your documents and ensure your wishes are clearly defined and your assets are protected. Contact us today to schedule your year-end estate planning review. (307) 682-1313.