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End-of-year estate planning moves to make

On Behalf of | Dec 9, 2022 | Estate Planning |

The end of the year offers an opportunity to reflect and make choices that could prove beneficial in the year to come. One of these areas is estate planning, and Florida adults may find it beneficial to discover what improvements they need to make to their existing plans. At the end of the year, certain changes and updates may be necessary to provide the full amount of protection one needs for the future.

The best steps

The ideal estate planning steps to take now depend on one’s individual goals and objectives for the future. Each of the following suggestions may be helpful for someone who wishes to have more long-term control over his or her assets and other matters:

  • Make end-of-year charitable donations
  • Estimate capital gains and adjust for tax purposes
  • Check on retirement plans and ensure beneficiary designations are up to date
  • Review all terms in an estate plan and adjust where necessary

Life is constantly changing, and updates to an existing plan may be necessary, even after a short period of time. Ensuring that all plans are accurate and properly reflective of current goals and circumstances can prevent complications should the unexpected arise.

Smart decisions for the future

An experienced Florida estate planning attorney can provide the insight one needs to make smart estate planning decisions. As the end of the year approaches, it may be helpful to seek an assessment of an existing plan to see what efforts and updates may be necessary. This simple step can provide one with confidence and peace of mind regarding his or her future interests.

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