• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Wilcox Attorneys, PA

Wilcox Attorneys, PA an Arkansas Estate Planning & Trust Information Center

Northwest Arkansas Estate Planning Attorneys (479) 443-0062

Client Vault
  • Home
  • Our Firm
    • Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Speaker Connection
  • services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Secure Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Probate
      • Trust Administration & Probate
    • Newsletters
    • Pre Consultation Form
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

Estate Planning in the Year End/New Year

December 23, 2015 by Deb Sexton Leave a Comment

(This is an article from the Law Offices of Cheryl David in Greensboro, NC that we thought others may find helpful.)

With all the hustle and bustle surrounding the Holiday season, it can be worthwhile for anyone with an estate plan to take a moment to review those plans in the year end or during the first part of the new year. A good estate plan is on that fits your needs and desires, so your plan may require periodic updates or changes. If you have not reviewed your plan yet this year, here are a couple of pointers you may want to use as you do.

Personal and Financial Changes

The year end is a perfect time to take a moment to think about any significant changes that have occurred to you or your loved ones in the past 12 months. Has there been a marriage, divorce, death, birth of a child, or significant changes to your financial circumstances? Have you developed a medical condition? Has someone who you named as a representative in your estate plan moved or relocated?

Asking yourself these kinds of questions and taking a moment to review your individual estate planning tools can do a world of good. There’s no requirement to change your estate plan every year, or that a change in your life will require a change in your plans, but if something significant has happened you may need to go back and make some updates.

Gift Planning

Gift giving is common during the holidays, and a lot of people who create estate plans incorporate yearly gifts into their planning efforts. In particular, anyone who has created an estate plan that is designed to reduce or eliminate any potential estate taxes will often include a gift-giving strategy as an estate tax protection. While you can give gifts at any time, if you’ve not yet given your monetary gifts, doing so before the end of the year is something you may need to do.

Legal Update

Regardless of what your personal desires or circumstances are, the laws surrounding estate and financial planning routinely go through changes of which you may need to be aware. Talking to your lawyer periodically about any changes in the legal landscape is always a good idea. While many, if not most, changes in the law will have little to do with your needs or your plan, there may be changes that took place in the last 12 months, or laws which might take effect soon, that might require you to make changes to your plan.

Other changes might alter what options are available to you, and though you might not need to update your plan, you may decide to take advantage of the new opportunities.

If you have questions regarding your estate planning needs, please contact Wilcox Attorneys, PA online or by calling us at (479) 443-0062.

  • Author
  • Recent Posts
Deb Sexton
Latest posts by Deb Sexton (see all)
  • Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
  • Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
  • The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wilcox Attorneys, PA

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Subscribe to Our Blog

Subscribe to our blog for all the latest estate planning news and updates!

Office Address

Fayetteville
2766 Millennium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

( By Appointment Only )

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.