End of Year Estate Planning

It’s approaching the end of the year and time to begin reflecting on the changes of the past year.  With the end of 2015 upon us and 2016 about to begin, it’s time to get organized.  Updating (or creating) your estate planning documents is the final step of the process.  First thing you need to do is Get Organized:

  1. Talk to your family about your wishes
  2. Review beneficiary designations and make sure they are up to date
  3. Military and VA documents (get a copy of your DD214)
  4. Government benefits
  5. Employment documents
  6. Pension and savings accounts

Once you have a good idea of what you have and what you want, think about what has changed for your family in the past year:

  1. Marriages
  2. Divorces
  3. New Children/Grand Children/adoption
  4. Guardians and Conservators for minor children
  5. Children becoming Adults
  6. Retirement plans
  7. Family members with special needs
  8. Major purchases (especially Real Estate)

Review what you have and make sure it’s up to date.

  1. Advanced medical directives
  2. Powers of attorney
  3. Write a will or living trust
  4. Make sure your living trust is funded and up to date

There is no reason to wait to the beginning or end of the year to start thinking about Estate Planning but that's when most people reflect on the past year and make the to do list for the next. 

Portland Probate Attorney
(503) 893-5878