Your Mid-Year Estate Planning Checklist

By a Florida Bar-Licensed Estate Planning Attorney

As summer winds down and the second half of the year begins, it’s the perfect time to review your estate plan. Life changes quickly: marriages, births, relocations, and even economic shifts can impact your estate strategy. A mid-year check-in allows you to correct errors, update your documents, and ensure everything still reflects your wishes.

Whether you’re a longtime Florida resident or recently moved to the area, our team at Scovills can help ensure your estate plan is current, comprehensive, and compliant with Florida law.

Why Mid-Year Reviews Matter

Many people assume estate planning is a “set it and forget it” process. In reality, estate documents should evolve with your life and the law. Just as financial advisors recommend a mid-year financial review, estate planning attorneys encourage clients to reassess their legal documents every 6 to 12 months.

Failing to review your plan could result in:

• Outdated or invalid powers of attorney
• Incorrect beneficiary designations
• Conflicting trust provisions
• Unintended probate exposure

A proactive review now can prevent stressful, expensive corrections later, especially as the end-of-year legal and financial deadlines approach.

Mid-Year Estate Planning Checklist

Here’s a structured checklist to guide your mid-year review. If anything is outdated or unclear, contact your estate planning attorney serving Sarasota or Lakewood Ranch for updates.

1. Power of Attorney (POA) and Health Care Surrogates

• Confirm your named agents are still appropriate and available
• Review instructions for managing finances and medical decisions
• Ensure documents comply with Florida Statutes, including F.S. § 709.2101 (POA laws)

2. Beneficiary Designations

• Review retirement accounts, life insurance, annuities, and payable-on-death (POD) accounts
• Confirm names and percentages reflect your current wishes
• Avoid naming minors without a corresponding trust in place

3. Wills and Trusts

• Re-read your will and revocable trust documents
• Confirm executor/trustee choices are still valid
• Ensure asset distribution aligns with your family’s current structure

4. Gifting and Tax Strategies

• Consider using annual gift exclusions before December 31
• If your estate may exceed the federal exemption threshold, explore strategic planning options

5. Titling of Assets

• Check if assets like real estate and brokerage accounts are titled consistently with your estate plan
• Verify any property held in trust is properly deeded

Common Mid-Year Mistakes to Catch Early

• Relying on outdated “do-it-yourself” documents from other states
• Assuming a spouse is automatically authorized to act without a valid POA
• Forgetting to name alternate fiduciaries (e.g., backup agents or trustees)
• Overlooking digital assets (logins, online banking, cryptocurrency)

Why Legal Guidance Makes the Difference

Laws governing estate planning vary by state and change over time. An estate planning lawyer serving the community of Lakewood Ranch and Sarasota can help you interpret recent updates and ensure your documents meet Florida legal standards.

For example, the Florida Trust Code (F.S. Ch. 736) and laws around POAs (F.S. Ch. 709) often contain nuances that can affect how your plan is executed, especially if you have out-of-state assets, blended family concerns, or charitable giving goals.

We regularly assist clients who want to align their legal planning with financial advisors’ checklists, such as NerdWallet’s Mid-Year Financial Review.

Key Takeaway

Mid-year is more than just a calendar milestone, it’s a valuable opportunity to fine-tune your estate plan and correct any oversights while there’s still time. By reviewing your legal documents now, you help protect your legacy, minimize family conflict, and avoid costly probate surprises down the line.

Ready for a Mid-Year Review?

If you live in Sarasota, Lakewood Ranch, or the surrounding areas, our experienced attorneys can walk you through a personalized estate planning checkup.

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Let’s ensure your plan reflects your current wishes and gives you peace of mind for the year ahead.