It’s a New Year-Time to Check Your Estate Planning Documents. Do you Need to Make Any Changes?
A new year has a funny way of whispering one question you should not ignore:
“If something happened to me this year…would my estate planning paperwork still reflect my wishes?”
Most people assume their estate plan is a “once-and-done” task.
But estate planning documents don’t age like fine wine. They age like milk.
And the real danger isn’t that you don’t have documents-it’s that you have old documents that no longer match your life or reflect your wishes.
So let’s do this the easy way: a quick, friendly New Year check-up you can complete in a few minutes.
💡 Why a New Year Estate Plan Review Matters
Because life changes quietly…and then all at once.
A marriage. A divorce. A new baby. A home purchase. A move. A new business. A serious diagnosis. A parent who needs help.
Even “good” changes can create legal confusion if your documents don’t keep up.
And confusion is…expensive!
It slows down families, fuels conflict, and can force decisions you never would have chosen.
✅ Start here: the “Big 5” Documents to Review.
📃 Your Last Will and Testament
Ask yourself:
- Does it still name the right executor?
- Are the beneficiaries still correct?
- Did you buy a house, start a business, or acquire assets since you signed it?
- Do you still want the same distribution plan?
A Will is still the backbone for many families, especially when it’s paired with updated beneficiary designations and good incapacity planning.
📃 Financial Power of Attorney
This one is about life – not death…and in my opinion, the most important document.
If you become ill or incapacitated tomorrow, who could:
- pay your bills
- manage your accounts
- deal with insurance
- handle real estate
- keep your life running?
The key question is: do you still trust the person you named?
Are they still willing, available and capable?
📃 Healthcare Power of Attorney + Living Will/Advance Directive
This is where you protect your healthcare wishes and spare your family from guessing.
Review:
- who you named to speak for your medically,
- whether your preferences still reflect your values,
- whether your doctors and loved ones know where the documents are.
📃 Beneficiary Designations (the “silent” estate plan)
This is the part most people miss – yet it often controls the biggest assets.
Many accounts transfer by contract, not by your Will, including:
- retirement accounts (401(k), IRA),
- life insurance
- some payable-on-death accounts
- annuities
If your beneficiary designations are outdated, your Will can’t always “override” them.
The IRS explains how retirement plan beneficiaries work and why correct designations matter.
Action Step: request and review beneficiary forms for each account. Make sure they match your intentions and your life today.
📃 Trusts
If you’ve created a revocable living trust, review:
- whether assets are properly titled into the trust,
- whether trustees and successor trustees are still appropriate,
- whether the trust terms still fit your family situation.
A trust can be a powerful – but only if it stays aligned with your current reality.
🗒️ The “life changes” Checklist: Reasons you May Need to Update
If any of these happened in the last year (or are coming soon), it’s time to review:
- Marriage, divorce, separation or remarriage
- New child, adoption, or grandchild
- Death or serious illness in the family
- A beneficiary struggling with addiction, debt, disability, or unstable relationships
- New home purchase, refinancing or property in another state
- New business, partnership or major change in income
- A move to a new state (laws and execution requirements can differ)
- You named someone who has moved away, became unreliable, or passed on
- You want to add charitable giving or change your legacy plan
- You can’t quickly find your documents (that’s a BIG sign)
💡 Your “after I’m gone” Organization Plan
A good estate plan isn’t only the legal documents – it’s also clarity.
At a minimum, keep a secure record of:
- where your originals are stored
- who has copies
- account lists (without exposing passwords)
- insurance contacts
- key people to call
Penn State Extension has a helpful “Getting Your Affairs in Order” guide that supports this kind of practical organization.
USA.gov outlines agencies and programs family often need to notify after a death-useful for understanding what your loved ones would face.
Also, don’t forget about your digital assets. We all have them. See my post about protecting your digital assets.
⚠️ Identity Protection
This is uncomfortable, but it’s real.
When records are disorganized, families are more vulnerable to fraud and identity theft.
Identify theft.gov (FTC) provides official recovery steps and checklists if identity theft occurs.
Your “new year upgrade” can be as simple as a folder (physical or digital) that helps your family act quickly and confidently if they ever have to.
✅ The Simplest New Year Plan: 20 Minutes and Done!
Here’s your quick routine:
- Pull our your Will, Power of Attorney and health documents.
- Read only the names: executor, agents, trustees, beneficiaries and guardians.
- Ask: Would I still pick these people today?
- Review beneficciary designations on retirement and life insurance.
- Make a list of changes (even if it’s only one)
That’s it! Done! Because once you see what needs updating, you can fix it before life forces the issue.
✅ When You’re Ready to Updte: Do it the Correct Way!
If you need changes, work with your estate planning attorney for the legal updates – and when it’s time to sign, make sure the execution is handled properly.
If you’re in my area, I’m happy to assist with any documents that require notarization.
Schedule a time with me if your updated documents need notarization.
Diem Notary & Paralegal Services, LLC
Wendy Bratton Diem
🗓️ Book Online
📞 Call/Text: 717-269-7545
I’m here to make your day easier!
