5 Estate Planning Essentials You Can't Afford to Ignore in 2025

The start of a new year is the perfect time to reflect on your goals and priorities, and what better way to ensure your future is secure than by updating your estate plan? Whether you have an existing plan or are just starting, resolving to revisit or create your estate plan now can bring peace of mind for the year ahead.

An updated estate plan ensures that your wishes are clear and that your loved ones are protected, especially if there have been major life changes such as marriage, divorce, the birth of a child, or a change in financial circumstances. It also allows you to address important areas like health care directives, powers of attorney, and trusts that can safeguard your assets and your family.

5 Key Questions to ask yourself…

1. What happens if you don’t have a will?
   Without a will, your assets will be distributed according to state law, not your personal wishes. This can lead to confusion, delays, and potential conflicts among your loved ones. Having a will ensures that your property and possessions go to the people you choose.

2. What happens if you don’t have a Power of Attorney (POA)?
   If you become incapacitated without a POA in place, no one will automatically have the legal authority to handle your financial matters or healthcare decisions. This could result in costly court proceedings to appoint a guardian, which could delay critical decisions. A POA gives someone you trust the power to act on your behalf when you can’t.

3. What happens if you don’t have a healthcare directive?
   Without a healthcare directive, your family may face difficult decisions about your medical treatment in times of illness or injury. A healthcare directive ensures that your medical wishes are respected, preventing unnecessary confusion and stress for your loved ones.

4. What happens to my home without a Trust?
   Without a trust, your home may have to go through probate when you pass away, a process that can be time-consuming, costly, and public. If you want to avoid probate and ensure that your home passes directly to your beneficiaries, a trust can help you do this smoothly and privately.

5. What happens to your minor children if you become incapacitated?
   If you’re unable to care for your minor children due to illness or injury, and you haven't named a guardian in your estate plan, the court will decide who will care for them. This could lead to delays, unwanted family disputes, or placement with someone you wouldn't have chosen. Naming a guardian in your estate plan ensures that your children are cared for by the person(s) you trust most.

Don’t Wait, Start Today!

Make it your New Year’s resolution to safeguard your legacy and ensure that your estate plan is up-to-date. The best time to plan is now—before the unexpected happens.

At The Law Office of Jeffrey Blair, we specialize in creating comprehensive estate plans tailored to your unique situation. Schedule your Peace of Mind Planning Session today to discuss how we can help you protect your child’s future and your legacy.