The start of a new year is the perfect time to review your estate plan and make sure it still reflects your wishes, your family’s needs, and California law. As life changes, so should your estate plan. Whether you recently experienced a major life event or simply want peace of mind heading into 2026, a thoughtful annual review can help you avoid costly mistakes and unnecessary stress for your loved ones.
Below is a practical, easy-to-follow estate planning checklist designed specifically for California families, with key considerations for those living in Los Angeles and surrounding areas.
1. Review Your Beneficiaries
One of the most common estate planning mistakes is failing to keep beneficiary designations up to date. At the start of the year, review the beneficiaries listed on:
- Retirement accounts (401(k)s, IRAs)
- Life insurance policies
- Payable-on-death (POD) and transfer-on-death (TOD) accounts
Make sure these designations align with your overall estate plan and your current intentions. In California, beneficiary designations override what is written in a will or trust, so accuracy is critical.
2. Reassess Your Assets
Take inventory of what you own and how it is titled. This includes:
- Real estate (primary residence, rental properties, vacation homes)
- Bank and investment accounts
- Business interests
- Valuable personal property
If you acquired or sold assets in the past year, your estate plan may need to be updated. For Los Angeles homeowners, changes in property value, refinancing, or acquiring additional real estate can significantly impact your estate planning strategy.
3. Confirm Your Trust Is Properly Funded
Creating a trust is only the first step. To be effective, it must be properly funded. Review whether your trust actually owns the assets it is meant to control.
Common items that should be titled in the name of your trust include:
- California real estate
- Non-retirement bank accounts
- Investment accounts
Unfunded or partially funded trusts often lead to probate, which many families are trying to avoid. A start-of-year review helps ensure your trust will work as intended.
4. Update Guardianship and Decision-Makers
If you have minor children, review your chosen guardians. Ask yourself:
- Are they still willing and able to serve?
- Do they still live nearby?
- Do their values still align with yours?
Also review the individuals named as trustees, executors, and agents under your powers of attorney. Life changes, health issues, or relocations can all affect whether these choices are still appropriate.
5. Review Health Care Directives and Powers of Attorney
California health care directives and powers of attorney are essential documents that often get overlooked after signing.
Confirm that:
- Your named agents are still the right choice
- Your wishes regarding medical care are clearly stated
- Your financial power of attorney reflects your current situation
An annual review ensures that if something unexpected happens in 2026, your family and medical providers have clear guidance.
6. Consider Changes in the Law
Estate planning laws and tax rules can change over time. What worked a few years ago may no longer be the most effective approach today.
A periodic review with a California estate planning attorney helps ensure your plan still takes advantage of current laws and avoids unintended consequences, especially for higher-value estates or blended families.
7. Organize and Communicate
Finally, make sure your estate planning documents are organized and accessible. Let trusted family members know:
- Where documents are stored
- Who to contact if something happens
- The general structure of your plan
Clear communication can prevent confusion, conflict, and delays during already difficult times.
Start 2026 With Confidence
An estate plan is not a one-time task. It is a living plan that should evolve with your life. Beginning the year with a clear review helps protect your family, your assets, and your legacy.
If you are unsure whether your estate plan is up to date or need help creating or reviewing a trust, the Law Office of Mitchell A. Port is here to help California families throughout Los Angeles.
Call the Law Office of Mitchell A. Port at 310-526-3433 to schedule a consultation and start 2026 with confidence in your estate plan.