As this year comes to a close, you may be thinking up New Year’s resolutions for 2026. Resolutions are supposed to give you hope and purpose as you set goals for personal and professional growth in the upcoming year. Setting and working towards these goals can give you a sense of control over your life. So, in the spirit of maintaining such authority, one of your resolutions should possibly be to review your already-established estate plan and make changes where deemed necessary or fitting. With that being said, please read on to discover what happens if you do not do a routine year-end review of your estate plan and how a seasoned Broward County estate lawyer at The Probate Lawyers can work to ensure your plan stays within your dominion.
What happens if I do not do a year-end review of my estate plan?
One of the most important things you should review annually is the beneficiary designations listed in your estate plan. This is because your relationships with your intended beneficiaries may drastically shift even in the span of just one year.
For example, say that you have recently gotten married or remarried. Well, if you do not add this new beneficiary designation to your estate plan, your assets may be distributed to the people you intended to benefit when you were single. This is regardless of the state’s intestacy laws prioritizing spouses, as the Florida probate court may not revert to these succession guidelines if your estate planning documents are valid and enforceable.
In another example, say that one of your beloved beneficiaries has sadly passed away this year. Well, instead of their intended share of your estate being transferred directly to your other designated beneficiaries, it may be absored into your estate. From here, the Florida probate court may determine who inherits this share based on the state’s intestacy laws. Ultimately, a portion of your estate may go to unintended recipients, not to mention causing unnecessary delays and extra costs for the entire process.
What documents should I look over in my year-end checkup?
As far as conducting year-end reviews of your beneficiary designations, you must look over your established will and trust documents. But there are many other estate planning documents you should assess for different reasons, and they read as follows:
- Review your living will to ensure you are still aligned with your expressed medical care preferences.
- Review your financial and healthcare powers of attorney to ensure you are still aligned with your agent designations.
- Review your property titles and deeds to ensure you are still aligned with the correct ownership structure.
- Review your business ownership interests to ensure you are still aligned with who inherits your shares.
- Review your insurance policies and retirement accounts to ensure you are still aligned with their beneficiary designations.
No matter what specific estate planning matter you are currently dealing with, a competent Broward County estate lawyer at The Probate Lawyers, is willing and able to step in and facilitate the process. Retain our legal services today.
