End-of-Year Checklist: Is Your Estate Plan Ready for 2026?
As the year comes to a close, many Florida families take time to review finances, set goals, and prepare for the year ahead. One area that deserves just as much attention—but is often overlooked—is estate planning.
An estate plan that worked well in the past may no longer reflect your family, assets, or changes in the law. With 2026 approaching, a thoughtful year-end review can help ensure your plan is current, flexible, and positioned to protect the people and property that matter most.
Use the checklist below to evaluate whether your estate plan is truly ready for the year ahead.
Have You Experienced Any Major Life Changes This Year?
Estate plans should evolve as life changes. If any of the following occurred this year, your plan may already be outdated:
• Marriage or divorce
• Birth or adoption of a child or grandchild
• Death of a spouse, beneficiary, or fiduciary
• Changes in health or long-term care needs
• Relocation to Florida or within the state
Even a single life event can significantly affect how your plan operates under Florida law.
Are Your Beneficiary Designations Still Accurate?
One of the most common estate planning mistakes involves outdated beneficiary designations. These designations control the distribution of many assets—and they override wills and trusts.
Review beneficiaries on:
• Retirement accounts
• Life insurance policies
• Pay-on-death and transfer-on-death accounts
A year-end review is the best time to catch errors before they create unintended consequences.
Are the Right People Still Making Decisions for You?
Estate planning is not just about asset distribution. It also determines who can act on your behalf if you are unable to do so.
Review:
• Power of attorney
• Health care surrogate
• Trustee or successor trustee
• Personal representative (executor)
Ask whether the individuals you named are still appropriate, available, and capable of serving—especially as family dynamics change over time.
If You Have Minor Children, Is Your Planning Complete?
Parents should revisit their estate plans regularly, particularly as children grow and family circumstances evolve.
Confirm that:
• Guardians are clearly named
• Trusts are in place to manage inheritances responsibly
• Instructions reflect your current wishes
Without proper planning, a court—not you—may make critical decisions affecting your children.
Does Your Plan Account for Florida-Specific Law?
Florida estate planning has unique legal rules that can significantly impact outcomes, including:
• Homestead protections and restrictions
• Spousal rights and elective share rules
• Probate procedures and timelines
• Trust and fiduciary responsibilities
• Medicaid and long-term care planning requirements
If your documents were prepared years ago or in another state, they may not function as intended under Florida law.
Are You Prepared for Possible Estate Tax Changes in 2026?
Current federal estate tax laws are scheduled to change in 2026, potentially reducing the amount that can pass estate-tax free. While not every family will be affected, those with higher net worth, business interests, or significant real estate holdings should plan ahead.
A year-end review allows you to:
• Evaluate whether your plan is flexible enough for future tax changes
• Consider trust or gifting strategies that may still be available
• Avoid rushed planning if changes take effect
Thoughtful preparation now can preserve options later.
Have You Considered Medicaid and Long-Term Care Planning?
Many families wait too long to think about long-term care planning. Medicaid eligibility rules involve timing considerations that make early planning especially important.
Before the new year, consider:
• Whether your current plan addresses long-term care risks
• How Medicaid rules may affect asset protection
• Whether proactive planning could preserve more choices
Year-end planning often provides more flexibility than crisis-driven decisions.
Quick Year-End Estate Planning Check
As the year closes, ask yourself:
• Would my loved ones know what to do if something happened to me?
• Would my estate plan work as intended under Florida law?
• Has my plan been reviewed within the last three to five years?
If you’re uncertain about any of these answers, a review is likely overdue.
Start 2026 with Confidence
Estate planning is not about predicting the future—it’s about preparing for it. A year-end review allows you to enter the new year knowing your plan reflects your life today, adapts to future changes, and provides clarity for the people you care about most.
For many Florida families, addressing these issues before the new year brings peace of mind that lasts well beyond the holiday season.
