If people watched their estate plans as carefully as they watch their retirement portfolios, many families would be spared a great deal of time and trouble. A recent article from The Motley Fool, “4 Estate Planning Moves to Make Before 2026 Ends,” explains how the estate plan is a critical part of your financial foundation. Do it halfway, the article says, and you’ll leave loved ones with an expensive, stressful mess.
Make sure critical documents, including will, power of attorney and trusts, are up to date and complete. Relationships with people, laws and intentions change over time. If your estate documents aren’t reviewed routinely, the wrong people may end up inheriting a lifetime of earnings and savings.
Check whether your will and power of attorney include a provision for a digital executor. You’ll want someone to be able to access email, cloud storage and other accounts in case of incapacity or death.
Check on beneficiary designations. The last will and testament is not the final word on distributing your assets. If one person is the beneficiary in your will but another one is listed on insurance policies, retirement accounts and the like, those beneficiary designations supersede the will. If your will says your spouse should receive your 401(k), but your ex-spouse is the beneficiary on the 401(k) forms, your ex will receive a nice surprise.
If your budget allows, consider using up the annual gift exclusion. Every year, everyone may gift a certain amount of money to others without triggering gift taxes or counting against the lifetime exemption limit. This could work for you if you want to gradually reduce the size of your taxable estate and lower any estate or inheritance taxes at your passing.
Each person may gift up to $19,000 to as many people as they want each year. The gifts can take the form of cash, stocks, bonds, or any assets. Married couples may gift up to $38,000. Some people use this option with assets expected to appreciate over time. This is a “use it or lose it” option—the unused portion doesn’t roll into the next year.
Consider converting a traditional IRA to a Roth IRA if you’re able to pay the taxes. The Roth IRA allows account owners to take withdrawals tax-free in retirement, if they are 59 ½ years old and the first contribution was made at least five years prior. With traditional IRAs, withdrawals are taxed and Required Minimum Distributions (RMDs) must be taken every year.
Converting the IRA will require you to pay taxes on the amount being converted, whether in full or in part. The Roth IRA also doesn’t have RMDs, so it can keep growing tax-free for many years.
Reviewing your estate plan as often as you review your finances and enjoy the peace of mind knowing your future and your family are taken care of.
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Reference The Motley Fool (March 30, 2026) “4 Estate Planning Moves to Make Before 2026 Ends”
