Year-End Estate Planning Checklist: 10 Things to Review Before December 31st

As the year draws to a close, most people are focused on holiday plans and year-end finances. But December is also one of the best times to review your estate plan — before the calendar resets and good intentions get pushed to the back burner.

Here are 10 things to check before December 31st:

1. Have you had a major life event this year? Marriage, divorce, birth, death, or relocation should all trigger an estate plan review. If something changed, your documents may need to change too.

2. Are your beneficiary designations current? Check life insurance, retirement accounts, and financial accounts. Make sure they reflect your current intentions.

3. Have you used your annual gift tax exclusion? In 2024, you can give up to $18,000 per person ($36,000 per couple) tax-free. Unused exclusions don't roll over — use them by December 31st.

4. Is your durable power of attorney up to date? Older documents may no longer be accepted by financial institutions. Consider having it refreshed if it's more than 5–7 years old.

5. Are your healthcare documents current? Review your living will and medical power of attorney. Do they still reflect your wishes?

6. Has the value of your estate changed significantly? A business sale, large inheritance, or major investment gains can push you toward estate tax territory. Now may be the time for advanced planning.

7. Have you reviewed your trust funding? Are all intended assets properly titled in the name of your trust?

8. Have you considered charitable giving before year-end? Contributions made by December 31st generate current-year deductions.

9. Do your children or heirs know where your documents are? Your estate plan only works if it can be found.

10. When did you last speak with your estate planning attorney? An annual check-in — even a brief one — can catch issues before they become problems.

📌 Don't let the year end without this review. Contact us before December 31st to schedule your annual estate planning check-in.