Estate planning isn’t just for the wealthy — it’s a smart, strategic way to protect for peace and protection of your loved ones, manage your legacy, and ensure your wishes are honored. As we navigate 2025, new tax rules, evolving digital assets, and lifestyle shifts make it more important than ever to keep your estate plan up to date. Here are the top 10 must-do’s for your estate planning checklist this year:
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Update Your Will and Trust
Life changes — and so should your estate plan. Whether you’ve experienced a birth, death, marriage, divorce, or financial shift, updating your will and trust documents ensures your wishes still align with your current reality.
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Review Beneficiary Designations
Your retirement accounts, life insurance, and some financial accounts pass outside your will. Confirm that beneficiary designations are up to date and coordinated with your broader estate plan.
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Create or Update a Power of Attorney
A durable power of attorney allows someone you trust to manage your financial affairs if you’re incapacitated. Without one, your family could face delays and court costs just to handle your day-to-day matters.
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Establish a Healthcare Directive
Make your medical wishes known through a healthcare proxy and living will. These documents let someone make healthcare decisions on your behalf and clarify what treatments you would (or would not) want in a crisis.
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Plan for Digital Assets
From cryptocurrencies to social media, your digital life needs an estate plan, too. List your digital assets, store login info securely, and name a digital executor to manage them.
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Address Estate Tax Exposure
In 2026, the federal estate tax exemption is set to sunset to pre-2018 levels — potentially affecting millions more Americans. However, should the Senate pass President Trump’s “Big, Beautiful Bill” the estate tax exemption will increase to $15 million per person in 2026, the highest ever. It is the time to keep an eye on the bill and explore gifting strategies, trusts, or other tools to reduce future estate taxes.
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Consider a Revocable Living Trust
A revocable living trust avoids probate, maintains privacy, and simplifies asset transfer after death. It's especially useful if you own property in multiple states or have a complex family situation.
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Protect Your Business
Business owners should have a succession plan in place. Whether it’s passing the business to family or selling it, outline who takes over and how it will be valued and managed.
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Include Guardianship for Minor Children
If you have children under 18, name a legal guardian in your will. Without this, a court could decide who raises your kids — possibly someone you wouldn’t choose.
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Work with Professionals
Estate planning is not one-size-fits-all. A qualified estate planning attorney, financial advisor, and tax professional can help tailor a plan to your unique goals and ensure you’re in full compliance with 2025’s laws and best practices.
Final Thoughts
Estate planning isn’t just about distributing your wealth — it’s about peace of mind, protection, and making your wishes known. Whether you’re just getting started or updating a long-standing plan, these 10 must-do’s will help you build a solid foundation for the future.
Ready to take action in 2025? Don’t wait. The best time to plan is now.
