Updating An Estate Plan – What Issues Should I Consider Before I Update My Estate Plan? (2026)

2026 · WHAT ISSUES SHOULD I CONSIDER
BEFORE I UPDATE MY ESTATE PLAN?
Do you expect your estate will exceed your unused federal estate and gift tax exclusion amount (maximum $15 million, or $30 million if you are married)? If so, consider strategies to plan for a possible federal estate tax liability.Do you wish to make specific bequests of assets that were not made in the current estate plan?Have you bought or sold a second residence?Do you own homes, investment property or tangible property in two or more different states?Have there been any material changes to your assets (ownership or valuation)?Have any of your children reached age 18 (or the age of majority in your state)? If so, they no longer need to have a guardian or personal representative.If you have children under age 18, do you need to appoint or change the named Guardians and/or Trustees?Do you have an adult child who has no spouse or child? If so, consider talking to your child about implementing their own Powers of Attorney (General and Health Care), perhaps appointing you to act on their behalf if they are unable to do so.ASSETS & PROPERTY RELATED ISSUESYESNOHave there been any changes to state or federal laws since your estate plan was last reviewed?Are there digital assets that should be preserved?Are there any state-specific issues that should be considered such as a state estate tax?OTHER ISSUESYESNOMINORS & CHILDREN RELATED ISSUESYESNOHave any individuals named as beneficiaries or fiduciaries (e.g., Executor, Trustee) passed away?Are there any individuals (or charitable organizations) that should be added or removed as beneficiaries (primary or contingent)?Have there been any marriages or divorces that would impact your estate plan?Is there a beneficiary with special needs receiving government assistance?Have there been (or could there be) any births that would impact your estate plan?Do you need to protect any beneficiaries from a divorce, creditor issues, substance abuse, mental illness, spending issues, or gambling issues?Do you need to update the appointments under your Powers of Attorney (General and/or Health Care)?Do you want to update any of your intentions as outlined in your Living Will?BENEFICIARY & FIDUCIARY ISSUESYESNO
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 Dejan Ilijevski, MBA, MS

SCM Investment Services | Lake Elmo, MN | (612) 324-0629

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