5 Critical Estate Planning Tasks for the New Year

(That Won’t Make You Want to Hide Under Your Bed)

1. Update Your Will (Or Finally Create One, You Procrastinator). Remember that time you said, “I’ll write my will next week”... in 2019? Here’s the thing: without a will, your state gets to play matchmaker with your assets, and trust me, they’re worse at it than your Aunt Linda trying to set you up on blind dates. Plus, do you really want your prized collection of rubber ducks going to that cousin who never returns your Tupperware?

Quick Tip: If you’ve had major life changes (marriage, divorce, kids, or finally admitting that cryptocurrency isn’t going to make you a millionaire), it’s time to update that will.

2. Check Your Beneficiary Designations (Because Your Ex Probably Shouldn’t Still Be Listed). Picture this: You’ve moved on, found the love of your life, but your life insurance still lists your ex as the beneficiary. Plot twist worthy of a soap opera, right? Take fifteen minutes to review beneficiary designations on your: life insurance policies, retirement accounts, investment accounts, and that secret banana stand money (wink, wink).

Remember: Your will doesn’t override beneficiary designations. They’re like that one friend who always has to have the last word – they win, no matter what.

3. Get Your Power of Attorney Sorted (Choose Your Financial Superhero Wisely). Picking someone to handle your finances if you can’t is like choosing who gets to control the TV remote – it’s a big deal. Your Power of Attorney should be: someone good with money (sorry, Uncle Bob who invested his life savings in magic beans); trustworthy (preferably someone who hasn’t “borrowed” money from you and conveniently forgotten about it); organized (if their idea of filing is throwing papers in the air and yelling “sort yourself!”, maybe keep looking).

4. Healthcare Directives (Because Hospital Meals Are Bad Enough Without Being Force-Fed). Nobody wants to think about medical emergencies, but having healthcare directives is like having a really good insurance policy – you hope you never need it, but boy are you glad it’s there when you do. Make sure you: name a healthcare proxy (someone who won’t put you on a kale-only diet “for your own good”); specify your medical wishes (including your stance on being turned into a cyborg); keep copies somewhere other than that “important papers” drawer that’s actually full of takeout menus.

5. Create a Digital Estate Plan (Because Your Facebook Account Shouldn’t Outlive You). In this digital age, someone needs to know how to handle your online presence when you’re gone. Unless you want your automated LinkedIn profile still seeking networking opportunities in 2087, consider: password management (no, “Password123!” is not secure); social media account instructions (maybe you don’t want your gaming achievements living on forever); digital asset access (cryptocurrency, online banking, that blog about cheese you started in 2015).

The Bottom Line. Estate planning doesn’t have to be as painful as watching all those home workout videos you bought last January. Taking care of these five things now means less headache later (for you and everyone else). And if I can help, I’m here.