Estate Planning Checklist in the New Year

The New Year is a perfect time for fresh starts and setting important priorities—like protecting your loved ones and your legacy. Have you considered what would happen to your assets and family if the unexpected occurred? Taking control of your estate planning now can offer clarity, security, and lasting peace of mind for those you care about most.

At Lacy Law Office, we know estate planning is about more than just legal documents—it's about making sure your family is cared for and your wishes are honored. Whether you're creating your first estate plan or updating existing documents, our experienced Indianapolis estate planning lawyers are here to simplify the process and provide personalized guidance tailored to your needs.

Understanding the Basics of Estate Planning in Indiana 

Estate planning is all about making informed decisions to protect your assets and ensure they’re distributed according to your wishes. To start your estate planning journey, consider these essential components:

• Drafting a Will or Trust: A will outlines how your assets should be distributed after your passing, while a trust can help avoid probate and provide additional protection for your estate.
• Designating Beneficiaries: Naming beneficiaries for life insurance policies, retirement accounts, and financial assets ensures they transfer directly to the right people.
• Healthcare Directives: A healthcare power of attorney and living will allow you to specify your medical preferences and appoint someone to make decisions on your behalf if you’re unable to do so.
• Powers of Attorney: A financial power of attorney designates someone to handle your financial matters if you become incapacitated.

It isn’t just about protecting wealth—it’s about reducing stress for your loved ones during difficult times.

Key Estate Planning Resolutions for the New Year

Start the year with clarity and purpose by addressing these key estate planning tasks:

1. Review Your Existing Estate Plan: If you already have a plan, the New Year is an ideal time to review it for any necessary updates, especially after major life changes like marriage, divorce, new children, or the loss of a loved one.

2. Ensure Your Beneficiaries Are Up to Date: Life changes often require updates to beneficiary designations on life insurance policies, retirement accounts, and financial holdings. Double-check that your documents reflect your current wishes.

3. Plan for Incapacity: It’s essential to prepare for situations where you may be unable to make decisions yourself. Ensure your estate plan includes a durable power of attorney and healthcare directives.

4. Protect Minor Children: If you have young children, naming a legal guardian in your estate plan is critical to ensure they are cared for by someone you trust if the unexpected happens.

5. Consider Creating a Trust: Trusts can offer added benefits, including privacy, avoiding probate, and specifying how and when your assets are distributed, especially for minors or complex estates.

Protect Your Legacy with Confidence – Contact Lacy Law Office Today

Your legacy matters. Taking the time to create a thoughtful estate plan ensures your loved ones are cared for and your final wishes are respected. At Lacy Law Office, we believe estate planning is about more than just documents—it's about creating security for the people who matter most.

Take the next step toward protecting your legacy. Call Lacy Law Office today at (317) 894-1500 and let us help you build a lasting plan you can trust.