Estate Planning Awareness Week – October 19th to 25th

In 2026, over 50% of adults in the US don’t have estate planning documents of any kind, despite many having close family members, assets or a business.  Without an estate plan, all of those life elements are at risk and subject to statutory or judicial control if you die.

To make sure you are informed, each year in October we celebrate Estate Planning Awareness Week to help educate everyone about the benefits of estate planning.

How Can You Start?

I think that one of the reasons so many people don’t have an estate plan is that it just seems daunting, and requires using a will or trust through a paid advisor.  While that may be recommended at some point, you don’t have to start there.

I have complied a short list of estate planning steps that you can use right away, independent of any other documents or actions.  You might even have one of these already, meaning that you are already in the estate planning process and ready to take the next step.

Beneficiary Designations

If you have a life insurance policy, you will be required to list one or more beneficiaries in the policy.  This designation is separate from any estate documents and can be changed at any time.  Some will designate their trust as beneficiary to integrate the policy with the rest of their estate plan, but it’s not mandatory.

Joint Financial Accounts

Spouses often have joint checking or savings accounts, which remain valid even when one of them dies.  The surviving spouse simply takes over the account as joint owner, as they have an equal legal right to the funds.

Cash Gifts

The simplest estate planning tool is to make cash gifts during your lifetime, instead of relying solely on distributions in a will or trust.  In 2026 you can make a cash gift up to $19,000 per recipient without a need for additional tax forms.  The recipient pays no tax on the gift and there is no limit to the number of recipients.

Advanced Healthcare Directives (Living Will)

A living will allows you to choose the type of life sustaining care you wish to receive if you are incapacitated, and appoints a trusted person to make those choices for you.  They will be required to follow your written instructions and direct health care providers accordingly.

What are the next steps?

If you are ready to learn more about how to begin the estate planning process in 2026, you can contact us for a consultation or attend one of our workshops to get more information. For a schedule of our upcoming workshops, please visit www.estateplanningworkshop.org or better yet, schedule a consultation today at (951) 414-3731.