Financial circumstances change over time, and your estate plan should reflect those changes. At Taylor, Minnette, Schneider & Clutter, we encourage clients to review their estate plans at the beginning of each year to ensure their documents still align with their financial reality and long-term goals.
Below are common financial changes from 2025 that may require updates to your estate plan.
1. Purchasing or Selling Property
Buying a home, selling real estate, or acquiring investment property can affect how assets are distributed. These changes may require updates to wills, trusts, or property titles to ensure assets pass according to your wishes.
2. Changes in Income or Investments
A significant increase or decrease in income, retirement savings, or investment accounts may impact how your estate plan is structured. Reviewing these changes helps ensure your plan remains balanced and intentional.
3. Receiving an Inheritance
An inheritance can alter your overall estate and may create new planning opportunities. Updating your plan ensures inherited assets are properly integrated and distributed.
4. Starting, Selling, or Expanding a Business
Business ownership changes often require updates to succession planning, beneficiary designations, or trust provisions. Clear planning helps protect both the business and your family.
5. Outdated Beneficiary Designations
New financial accounts opened during the year may not align with your estate plan. Reviewing beneficiaries helps prevent conflicts and unintended outcomes.
At Taylor, Minnette, Schneider & Clutter, we help clients review and adjust their estate plans to reflect financial changes and protect what matters most.
If your finances changed in 2025, now is the right time to review your estate plan. Contact our office to schedule a consultation.