Estate Planning Resolutions for the New Year

Why is it important to update my estate plan every few years?

The New Year offers a fresh start for all of us. It represents a clean slate, and for many the start of the new year is the time to create goals. By outlining a few resolutions for 2019, you can work to ensure this new year becomes everything you want it to be. People of all ages should consider incorporating estate planning into their New Year’s resolutions. Whether you are retired or just starting off in the working world, you could benefit from making or updating your estate plan. Our San Ramon, California estate planning lawyers discuss some important estate planning related resolutions to consider making a reality in 2019.

Meet With an Estate Planning Professional

Your estate planning resolutions will be unique to your individual position in life. For those without an estate plan, or without a complete estate plan, an important first resolution would be to meet with an estate planning attorney. Your attorney will review your estate planning needs and recommend an estate plan that fully protects you and your heirs. Your estate plan will likely involve a will, one or more powers of attorney, and possibly a trust. Your needs will be carefully addressed and met within your comprehensive estate plan.

Speak to Your Family About Your Estate Plan

Some of us may already have an estate plan, but perhaps have been reluctant to share that plan with family. Others may not yet have an estate plan and may wish to get the input of loved ones before making critical estate planning decisions. In this new year, consider sitting down with your family and informing them of your estate planning wishes. Tell them where copies of your estate plan can be found should anything happen to you and answer the questions they may have. This meeting could bring you piece of mind, as well as prove important for your family upon your death.

Update Your Estate Plan

For those who have already created an estate plan, now may be a good time to review your plan and potentially update it. It is vital to update your estate plan every few years for several reasons. For starters, life changes and you may need to alter clauses within your will or other estate planning documents to meet your current needs. Secondly, laws change on a state and federal level that could require modifications to your estate plan. For example, the tax code just underwent revisions, which might behoove you to edit your current estate plan for tax saving purposes. Contact an estate planning lawyer to get started with your 2019 estate plan resolutions today.

About the Author

Julie M. Fiedler, an Attorney at Law, has been a resident of San Ramon since 1988. With over 30 years of experience in healthcare and senior services as a Registered Nurse, she is recognized as a Certified Elder Law Attorney (CELA) by the National Elder Law Foundation. Julie is accredited by the Department of Veterans Affairs to assist individuals with VA benefits. Her extensive involvement includes serving on the Board of Directors for the National Academy of Elder Law Attorneys, Inc., and as the past President of the Northern California Chapter of the National Academy of Elder Law Attorneys. She is an active member of California Advocates for Nursing Home Reform and ElderCounsel. Additionally, Julie Fiedler has contributed her leadership skills as President of the Adult Day Services Network of Contra Costa.