The Holiday Season as a Gentle Nudge Toward Estate Planning

The holiday season has a way of slowing time down—at least a little. Even when our calendars are packed, we tend to find quiet moments between gatherings, travel days, and year-end wrap-ups. Those moments often bring reflection: Who has been part of my life this year? What changed? What mattered most? What do I want the next year to look like?

That kind of reflection isn’t only personal—it can be practical. It can help you create an estate plan for the first time, or update an existing plan so it better matches your life today.

An “estate plan” is simply a set of legal documents that explains (1) who will make decisions for you if you can’t, and (2) what should happen to your assets and responsibilities when you pass away. For many families, the core documents include a trust (or a will), powers of attorney (for financial and legal matters), and an advance health care directive (for medical decisions). If you already have these documents, reflection can help you decide whether they still fit.

How holiday reflection can clarify your estate planning goals

Here are a few concrete ways that seasonal reflection can turn into better estate planning decisions.

1. Noticing what has changed since your plan was signed

A lot can change in a year or two: a new child or grandchild, a marriage or divorce, a move, a new business, a major inheritance, a home purchase, or a shift in financial priorities. Even changes that feel “non-legal,” like a loved one’s health challenges or a new caregiving role, can affect who should serve in important roles.

Reflection helps you spot those changes—so your plan doesn’t quietly drift out of date.

2. Re-centering on people, relationships, and responsibilities

Holidays often bring family dynamics into clearer focus. That’s not always easy—but it’s useful information. Estate planning requires you to choose people for key roles, such as:

• Successor trustee (the person who manages a trust when you can’t)

• Executor (the person who carries out a will)

• Agent under power of attorney (the person who can handle financial/legal matters for you)

• Health care agent (the person who can make medical decisions if you cannot)

• Guardians for minor children

Reflection can help you ask: Who is steady under pressure? Who is organized? Who knows my values? Who is nearby (or willing to travel)? Sometimes the best choice is not the closest relative—it’s the person most suited to the job.

3. Identifying the causes and communities you want to support

Many people feel more charitable at this time of year, and that can lead to meaningful estate planning choices. If you have causes that matter to you—schools, faith communities, medical research, the arts, or local organizations—this is a natural moment to consider whether you want to include charitable giving in your plan.

That doesn’t have to be complicated. It can be as simple as a percentage gift, a specific dollar amount, or naming a charity as a beneficiary of a retirement account.

4. Creating clarity to reduce stress for loved ones

When families gather, we’re reminded that life is both joyful and fragile. One of the greatest gifts an estate plan provides is clarity—especially during difficult seasons. Reflection often motivates people to address the things that loved ones would otherwise have to guess about, like:

• What medical care you would want in a serious situation

• Who should handle decisions if you’re incapacitated

• How you want personal items distributed

• Whether you have digital assets (photos, accounts, subscriptions) that need instructions

Even small updates can make a big difference.

Practical reflection exercises that can lead to real action

If you want to turn reflection into forward movement, try one or two of these:

• Make a “people and causes” list. Write down the individuals you feel responsible for (children, aging parents, a sibling who needs support) and the causes you care about. Estate planning becomes clearer when you see it in one place.

• Do a 30-minute document check. Pull out your existing estate planning documents and ask: Do these names still make sense? Are the addresses current? Has anything major changed since I signed? If you can’t find your documents, that’s a helpful discovery too.

• Inventory what you own. You don’t need perfect numbers. A simple list—home, bank accounts, retirement accounts, life insurance, business interests—helps you and your attorney see the full picture.

• Have one calm conversation. Not a big “family meeting,” just a straightforward check-in with the person you’d want making decisions. The goal isn’t to share every detail—it’s to confirm willingness and make sure they understand your general wishes.

Adding guidance to an existing estate plan

Sometimes you don’t need a full overhaul. Reflection may reveal that what you really want is better guidance for the people who will step in later. Depending on your situation, you may be able to add or update:

• A letter of instruction (non-legal guidance about practical details, preferences, and personal messages)

• Notes about caregiving or special family circumstances

• A plan for personal property (family heirlooms, sentimental items)

• Instructions for digital assets and online accounts

• Updated beneficiary designations (often overlooked, but very important)

If you’re unsure what can be updated informally versus what requires legal changes, that’s exactly what an estate planning review is for.

A note from Shafae Law: our final post of 2025

This will be our last blog post for the remainder of 2025. We’ll be taking a short break from publishing as the year comes to a close, and we look forward to sharing new content in 2026.

In the meantime, if this season of reflection is nudging you to create an estate plan—or revisit one you already have—we’re here to help. A thoughtful plan is one of the most caring things you can do for the people you love.

From all of us at Shafae Law, we wish you a warm holiday season and a happy, healthy, and fruitful new year.

Start the Year Off Right: Revisit Your Estate Plan in January

The start of a new year is an ideal time to take a fresh look at your estate plan. Whether you’re brand new to estate planning or you set up your will decades ago, January is a great reminder to ensure that your documents still reflect your current wishes, family situation, and financial goals.

Here are some common pitfalls to avoid and areas to consider:

1. Outdated Beneficiary Designations:
   Life changes, like marriages, divorces, and births, might mean those you originally named as beneficiaries are no longer your top choices. Check all retirement accounts, insurance policies, and payable-on-death accounts to ensure the right people inherit.

2. No Plan for Changing Tax Laws:
   Tax rules can shift from year to year, potentially affecting your estate’s value and how much goes to heirs versus taxes. Speaking with an attorney can help you stay ahead of any changes and maximize available exemptions or credits.

3. Failure to Update After Major Life Events:
   If you’ve recently welcomed a child, acquired property, or started a business, update your plan as soon as possible. Waiting too long can create confusion or even court battles down the line.

4. Lack of Clarity for Guardianship and Decision Makers:
   If you have minor children, designate guardians you trust, and confirm they’re still willing and able to take on that role. Likewise, ensure your chosen trustee is the right person to handle your affairs efficiently and sensitively.

5. Ignoring Digital Assets:
   Your online presence, from social media accounts to cryptocurrency, is part of your legacy. Make sure someone knows how to access these assets and that your estate plan addresses what should happen to them.

6. Unnecessary Probate Costs and Delays:
   A comprehensive estate plan can help avoid probate, which can be time-consuming and costly. Consider adding revocable living trusts or other tools that allow a smoother transfer of assets.

7. Not Reviewing Your Plan Periodically:
   Your estate plan isn’t “set it and forget it.” Even if there haven’t been major life changes, reviewing it every year or two helps you stay on top of any shifts in the law, your finances, or your personal preferences.

Best Practice:
Set a yearly reminder — January is perfect — to sit down with your estate planning attorney and financial advisor. A simple check-in can save your loved ones from confusion, stress, and expense in the future.

Ready for a Review?
If it’s been more than a year since your last review, or if you’ve never created an estate plan, now’s the time. Contact us today to schedule a consultation and start 2025 with the peace of mind that comes from knowing your legacy is secure.

How to Know Your Estate Plan is Current

Not having an estate plan comes at a significant risk for every single person, regardless of wealth, age, or life circumstance. Everybody’s estate plan may look different. It’s important to be sure your estate plan is tailored to your circumstances. Having an estate plan that is not current–meaning, it does not reflect your current wishes or address your current life circumstance–is as detrimental as not having a plan at all. In some cases, having an estate plan that is not suited to your life can be worse than not having one at all. Just like our lives evolve with time, our estate plan must adjust from time to time to address our life circumstances.

Are your young children not so young anymore? Are you transitioning into another phase of your life, like retirement or an “empty nest”? Did your life take an unexpected twist? Or maybe you weren’t aware of some changes in the law of which you would like to take advantage. Here are four things to look for in an existing estate plan to help spot potential areas for revision.

Unnecessary AB Trust

An “AB Trust” is a living trust created by a married couple that “splits” into two or more separate trusts upon the death of one spouse. It was commonly used prior to 2013 for estate tax purposes. It is still commonly used for non-tax purposes, such as re-marriage protection or with blended families. Since estate tax exemption amounts have increased dramatically since 2013, and since we allow spouses to use both of their exemption amounts automatically (“portability”), the AB Trust is no longer commonly used for estate tax purposes. If you created your trust prior to 2013 and your combined estate is worth less than $10 million, then you may want to consider restating your trust to remove the AB Trust provisions.

Outdated distribution path or specific gifts–adult children

Gifts for small children may look a lot different than provisions for adult children. Perhaps parents of young children placed basic care and needs like shelter and education above all else, and made provisions in their trust to reflect that priority. When that young child is a married adult with their own children, those protective provisions may look silly. Similarly, if a young child has grown into an adult who makes questionable decisions–with money, with partners, with their use of their free time–perhaps it’s time to put in more protective provisions for that child. There are many options for providing for your loved ones.

Additionally, perhaps your adult children have become more distinctive as they got older. For example, maybe one of your children moved abroad and the other is staying nearby, perhaps taking some of their time and resources to care for you. Maybe it’s a good idea to discuss whether to leave your home to one child and not equally to both, as to provide for the child who is caring for you, and to not create property tax issues.

Outdated list of decisionmakers

This is by far the most common reason people revise their estate plan. An estate plan is, after all, more about people than things. Being sure the decisionmakers are a list of good, reliable choices is paramount to a comprehensive estate plan. Click here for a prior post discussing how to choose decisionmakers.

Upcoming transition–divorce, aging partner, health issues

Life is nothing but a series of transitions. Your estate plan should be revisited regularly to be sure it addresses the current transition and contemplates any upcoming changes, as well. Are you going through a divorce? Are you about to retire? Perhaps you or your spouse are facing health issues. These are all reasons to revisit your estate plan and plan for the worst while hoping for the best. After all, you didn’t create an estate plan simply to address one set of circumstances.

Use this opportunity to be proactive in shaping your estate plan. If you wait too long, your agency will vanish, and in its place may only be left regret. Speak to an estate planning attorney to explore your options.

Revising Your Estate Plan

Many times when people create an estate plan, it is one thing on the proverbial “to do” list that might get put off longer than we want. But it feels great when we finally get it  checked off as DONE! And while that should definitely be the case, you should also review -- and revise -- your estate plan periodically. 

We’re in an extraordinary time with COVID19 dictating how we are living our lives in a way that we did not expect. In a world not too long ago, we imagined relying on people making financial or medical decisions for us who did not live near us. We have adequate virtual and digital resources to do things online; and if not, travel was available and relatively easy. This is a different world. 

There are several circumstances that arise that may require revision of your plan: 

The People

• Are the people who you designated to manage your money still the right fit for you? Are they healthy enough to take on that burden? (Remember: financial management comes up during incapacitation as well as at the time of death.) 

• Are you still happy with the list of people who you selected to make healthcare decisions on your behalf? Are they nearby enough to talk to your doctor on short notice? 

• If you have children, are the guardians that you nominated still appropriate? 

• Are the beneficiaries “right”? If you didn’t create an estate plan or a trust with us, does your plan account for your children who have been born/adopted since the plan was created? Or, perhaps your children are married with their own children now. Do you have any issues with the partner that your child chose for them self? Do you want to provide for your grandchildren directly?

The Structure

There are several ways to design an estate plan and big decisions that are made as part of the planning process.

• Did you select a survivor’s trust, but now believe an AB trust might be more appropriate?

• Did you want everything to go to your children outright but now want it to stay in trust for them?

• Did you decide that your children are (more or less) responsible and should be able to receive any potential inheritance sooner or later? 

Your Assets

Right now, the estate tax exemption amount is $11.58 million per person, or $23.16 million per married couple. In 2026, that law is set to sunset if Congress doesn’t act, and the exemption amount will drop to somewhere between $10-12 million. If your assets are starting to approach those exemption amounts, you may want to consider different estate planning tactics. 

Changes in the Law

The laws change and how it can impact your estate plan can change too. For example, have you heard of the Secure Act? It went into effect on January 1, 2020. You can read more about it here. 

Take Action

Just as critical, perhaps you are the potential beneficiary in this scenario. Did your parents create an estate plan a long time ago when you were a child, but it can now be revised to reflect better your current living situation?  There is no better time than now to have this conversation with your parents.

If you already have an estate plan, we recommend that you review it every 2-3 years to make sure that it’s still what you want—and to account for any of the above changes. If you’d like us to conduct a review of your estate plan, whether you created it with us or with someone else, please contact us for a complimentary review.