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New Year’s Resolutions for Estate Planning in 2025

2025 is right around the corner, and you are probably thinking about a few new year’s resolutions that you can commit to.  Those may be personal and practical ideas to improve your life, but you can also make resolutions that support the legacy that you will leave to your family in the future.

One of the easiest items to put off is that of estate planning since it does seem less ‘urgent’ than other life priorities.  But the best time to make an estate plan is right now, because none of us can predict the future and when it might be needed.  Let’s make 2025 a very happy new year with your estate plan!

Some Ideas for Estate Planning Resolutions

You can select one or more of these as your resolutions for 2025, which will give you a start on completing a comprehensive estate plan.

  • Have a conversation with your loved ones about estate planning

This is a great way to begin when you gather to celebrate the holiday, even if you already have a plan in place.  Adult children will appreciate knowing your intentions, and who will carry out your wishes.

  • Review the assets that might be a part of your estate plan

It is a good idea to have a complete listing of all your assets, as those will be what are distributed to your heirs.  If you speak to an attorney, this is one of the first things they will ask about, and this is the primary reason to have an estate plan.

  • Make an advanced directive for health care (Living Will)

If you don’t have many assets, you will still want to detail your health care choices in writing with a living will and power of attorney.  This is such a simple and inexpensive step to take, and it can have a real impact on determining your end of life or emergency care.

  • Evaluate other estate planning tools such as tax-free current cash gifts or charitable gifts

Not all estate planning takes place in the future, and cash gifts up to a certain amount ($19,000 per recipient in 2025) can be given tax-free to an unlimited number of individuals.  There is no maximum amount on gifts to charities, and those can be either current or estate contributions.

  • Make an appointment for an initial consultation with an estate planning attorney

If you are ready to sit down and explore how to best take care of your family, you can make an appointment with us to learn about all of your options.

  • Please attend one of our educational workshops!

For Shoup Legal’s upcoming workshops, please visit bit.ly/JanEPWorkshop-TVBJ

or give our office a call at (951) 414-3731 to learn more.  

Written by Andrea Shoup

Shoup Legal, A Professional Law Corporation can be reached at (951) 445-4114.

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