🍂Fall: The Perfect Time to Review Your Estate Plan
As October rolls past and the leaves change color, I think cozy sweaters, pumpkin spice everything, and the not-so-subtle reminders that the holidays are right around the corner. (Is it just me or are the stores putting out Christmas decorations earlier every year??)
Fall is a season of preparation - getting ready for the holidays, wrapping up the year, and planning ahead. That makes it the perfect time for one more kind of “planning” that deserves a spot on your fall to-do list: reviewing your estate plan.
Think of it as your Fall Financial Check-Up – a way to make sure everything still reflects your life today before the end-of-year rush. Have there been any new family members, property purchases, or changes in relationships this year? Those updates matter. Because the only thing scarier than Halloween ghosts is an outdated will that leaves your loved ones frantic or unprotected.
Taking a little time now to review your plan can prevent big headaches later - and give you the peace of mind to enjoy the season’s comforts, knowing your affairs are in order.
🎃 5 Frightening Mistakes That Can Come Back to Haunt You
Outdated Beneficiaries
Life changes—marriages, divorces, new grandchildren—and so should your beneficiary designations. Failing to update these could result in someone unintended inheriting your assets.Missing Digital Assets
From online bank accounts to loyalty rewards, social-media profiles, and passwords, many people forget to include instructions for their digital life. Without clear guidance, your loved ones may be locked out—or worse, unable to close accounts properly.No Backup Fiduciaries
Naming a health care advocate, powers of attorney, primary executor, or trustee is great—but what if that person can’t serve when needed? Always name an alternate.Unclear Instructions
Ambiguity can create conflict, delays, and legal costs. Loved ones left to “guess” your wishes may end up in court or divided emotionally. A well-written plan prevents confusion before it starts.Forgetting About Your Home or Out-of-State Property
If you own property in multiple states or recently refinanced, review your deeds and titles to make sure they’re consistent with your estate plan goals. This can help you avoid unnecessary probate or tax issues later.
💀 What Happens When You Leave Unclear Instructions
When estate plans are vague or incomplete, it’s like leaving behind a haunted house of confusion. Family members might interpret your wishes differently, creditors may step in, and the probate process can drag on for months—or even years. The result? Emotional distress, unnecessary expenses, and sometimes permanent rifts between loved ones.
Taking the time to clarify your plan now is one of the best gifts you can give your family before the holidays.
🍂 Fall Financial Check-Up: Your Annual Estate Planning Checklist
Use this quick list to make sure your plan is still up to date:
☐ Will or Trust: Review for changes in assets, family members, or your wishes.
☐ Powers of Attorney: Confirm that your named agents are still available and trusted.
☐ Advance Directive: Re-evaluate your healthcare choices—would they be the same today?
☐ Beneficiaries: Double-check designations on life insurance, retirement, and investment accounts.
☐ Digital Assets: Create or update your list of passwords, accounts, and instructions.
☐ Real Estate & Titles: Verify that ownership and titling align with your estate plan.
☐ Important Contacts: Ensure your executor or trustee knows where to find documents.
If you can check off most of these, you’re already ahead of the game.
👍Get Started Now
Before the year ends—and before the holiday rush begins—set aside an hour for your estate plan review. Brew a cup of cider, grab your documents, and give yourself the peace of mind that everything is current.
Need a little help with understanding digital assets? Check out these blog posts:
➡️Digital Assets: An Important Part of Your Estate Plan
➡️ How To Include Airline Miles & Other Loyalty Rewards In Your Estate Planning
New to starting your estate plan? In my book A Very Simple Estate Planning Guide, I take you step-by-step through the process in easy-to-understand language. 👉 Visit verysimpleestateplanning.com to learn more or get your copy.
