Estate Planning Self Check-Up: Is Your Plan Still Protecting You?

Estate Planning Is Not a One-Time Task

Creating an estate plan is one of the most important financial and family protection steps you can take—but it’s not something to do once and forget.
Life changes. Families grow. Laws evolve. A plan that once fit your life perfectly might now leave your family vulnerable.

An estate planning self check-up ensures that your will, trust, and other documents still reflect your wishes and comply with New York law.

1. Review Major Life Changes

Ask yourself:

Have you married, divorced, or lost a loved one?
Have you welcomed a new child or grandchild?
Have you retired or moved to another state?
Has your health or financial situation changed significantly?

Any of these life events can affect how your assets pass, who should serve as executor, or whether your trust needs new funding.

2. Check the Status of Your Key Documents

✅ Last Will and Testament
Make sure your executor is still able and willing to serve, and confirm that your beneficiaries are correct.

✅ Revocable Living Trust
Ensure that your new accounts or property are properly titled into the trust. If not, they may still go through probate.

✅ Durable Power of Attorney
Banks often reject old or incomplete powers of attorney. If your document is more than 5–7 years old, you may need a new one that complies with New York GOL §5-1501B (effective after 2021).

✅ Health Care Proxy and Living Will
Your chosen agent should still live nearby and be someone you trust to carry out your medical wishes. Update if relationships or health circumstances have changed.

✅ HIPAA Authorization
Ensure your family can access medical information if needed.

3. Verify Digital and Financial Assets

Modern estates include online accounts, crypto wallets, social media, and cloud storage. Make a list of all your digital assets and passwords, and store it securely.
Also review:

Bank and brokerage accounts
Retirement funds and pension plans
Life insurance and annuities

Confirm your beneficiary designations—they often override what’s written in your will or trust.

4. Reconfirm Guardians and Trustees

If you named a guardian for a minor child, are they still suitable? Do you need a backup?
For trustees, ensure they remain financially responsible, available, and trustworthy.

5. When to Update Your Plan

We recommend reviewing your estate plan:

Every three to five years, or
After any major life or financial event, or
When there are changes in tax or Medicaid rules affecting your plan.

A quick legal review can prevent your loved ones from facing court delays, tax penalties, or confusion later.

6. How We Can Help

At our firm, we help clients:

Review outdated wills and trusts for compliance with New York law.
Update executors, trustees, and guardians.
Re-fund trusts and coordinate asset titles.
Incorporate digital and cross-border assets.
Plan for Medicaid eligibility and long-term care.

Call to Action

If you can’t remember the last time you looked at your estate plan, now is the perfect time to do a check-up.

Contact us today for a confidential consultation. We offer bilingual services in English and Chinese to help your family stay protected.

Estate Planning Self Check-Up: Is Your Plan Still Protecting You?

1. Review Major Life Changes

2. Check the Status of Your Key Documents

3. Verify Digital and Financial Assets

4. Reconfirm Guardians and Trustees

5. When to Update Your Plan

6. How We Can Help

Call to Action

Find us

Contact Info

Office Phone Number

Office Email

Our Office Address