by Kristen Ishihara and Chris Parker with Ishihara & Parker Law Firm PLLC

With the new year underway, it’s the perfect time to tackle some practical to-dos—starting with your estate plan. Whether you’ve been putting it off or just need a quick check-in, here are the top three things we recommend you do to get your affairs in order.

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1. Review Your Estate Plan

Let’s face it: reviewing your estate plan isn’t the most exciting thing on your list. But it’s one of the most important. Think of it as an annual tune-up for your future.

• Pull Out Your Documents: Do you know where your originals are? Can your agents find them? Put them in a consistent spot—no surprises when you need them.
• Check Your Agents: Has anything changed over the past year? Health issues, family dynamics, or even a falling out can mean it’s time to update who you’ve listed as your agents.
• Match Your Plan to Reality: Too often, we see clients whose documents say one thing, but their real-world intentions have shifted. If your estate plan doesn’t match your current goals, it’s time to make adjustments.

Life happens, and circumstances change. Don’t let outdated plans create confusion or problems down the road.

2. Verify Ownership of Your Assets

Here’s a big one: who actually owns what?

• Real Property: Is the name on your property tax bill yours—or a deceased relative’s? If you’re living in Grandma’s house but her name is still on the deed, you’ve got a problem waiting to happen.
• Financial Assets: Have you received a 1099 for stocks or other investments? If so, make sure you understand how those assets are titled and whether they align with your estate plan.

This is also a great time to double-check your parents’ accounts. Sometimes, those little things—old stocks, forgotten life insurance policies—add up to big headaches if they’re not handled properly.

3. Consolidate Your Accounts

Are your assets spread out across multiple banks, credit unions, or investment firms? It’s time to simplify.

• Make Life Easier for Your Family: Your loved ones don’t want to run around town talking to six banks, three investment advisors, and a couple of insurance agents. Consolidate your accounts to one or two trusted institutions.
• Introduce Your Agents: Bring your power of attorney or beneficiaries into the loop. Introduce them to your banker or financial advisor now so they’ll know who to turn to when the time comes.
• Check Your Limits: Concerned about FDIC insurance? With the right account setup, you might not need as many accounts as you think. Talk to a professional to make sure you’re protected.

By consolidating your accounts and introducing your team, you’re not just simplifying your life—you’re setting your family up for success in the future.

New Year, New Plan

The start of a new year is the perfect time to knock out these tasks. Pull out your estate plan, verify ownership of your assets, and consolidate those accounts. It’s all about making sure everything runs smoothly—whether you’re incapacitated or your family is handling things after you’re gone.

Need help? We’re here for you. At Ishihara & Parker Law Firm PLLC, we’ll help you review your plan, address any concerns, and ensure everything is in order. Give us a call at (903) 555-1234 or visit us at longviewestateplan.com.

Let’s get this done before resolutions fade. Happy New Year, and we’ll see you next time!

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