Your New Year’s Estate Planning Checklist

A Practical Framework for Aligning Your Estate Plan With Your Life & Goals

A new year creates a natural checkpoint and valuable perspective for estate planning. With that can come clarity on what has changed, what no longer fits, and what may have been overlooked.

After all, estate plans don’t just fail because they have been poorly drafted. They can also fall out of step as laws shift, assets change, and family circumstances evolve. By the time problems start to surface, options tend to be limited, less predictable, and more costly.

This 2026 checklist is intended for Texans who are ready to reassess their estate plan with fresh eyes and a more deliberate lens. It breaks down how to:

This resource can help you zero in on how estate plans typically lose effectiveness, what risks can increase over time, and how to turn estate planning into a living strategy that evolves with your life and the law. You can download a concise, on-the-go version below.

1. Take Inventory of Your Existing Estate Plan.

A meaningful estate plan review begins with a comprehensive inventory. Even well-drafted plans can lose effectiveness over time as documents age, circumstances shift, and inconsistencies emerge. Evaluating what exists—and how it functions together—is essential to:

• Establishing your baseline 
• Preventing unnecessary or confusing duplications
• Overlooking gaps or missed opportunities.

To properly inventory your estate plan:

• Confirm which core documents are in place: Determine whether you currently have a will, trust, powers of attorney, and/or other devices in place. Missing key estate planning documents can create uncertainty and vulnerabilities that may leave important decisions up to Texas law (and not you or trusted loved ones).
• Identify when each document was last updated: Documents drafted years ago may rely on legal assumptions or personal circumstances that no longer apply. As a general “rule of thumb,” flag anything more than two to three years old for closer review and possible updates.
• Review drafting details: Who drafted your estate plan? Which state and federal laws governed the plan at the time it was drafted? State and federal laws change over time. Beyond that, estate plans drafted in another state may not align with Texas law or current legal requirements. Any of these factors could dilute or negate the efficacy of existing estate plans in 2026 and after. 

2. Account for Life Changes You May Be Underestimating.

Many estate planning gaps stem from life changes that don’t feel immediately urgent. While major events like divorce or death tend to prompt action, incremental shifts can have just as much impact over time. These evolving circumstances can include (and are not limited to):

• Aging parents
• Shifting financial responsibilities
• Expanding business interests.

To account for subtler but no less significant life changes:  

• Review changes in marital or family status: Marriage, divorce, remarriage, and blended family dynamics can directly affect inheritance outcomes and fiduciary decisions. Even if documents technically remain valid, they may no longer reflect your intent.
• Consider changes in health or capacity: New health concerns or shifting medical needs can affect who you may want as an agent (for powers of attorney) or trustee, as well as incapacity plan structures. Early planning can preserve control and minimize the risk of future court interventions.
• Reassess business holdings and financial complexity: New ventures, equity interests, and asset growth can introduce risks or exposure that older estate plans were never designed to manage.

3. Re-Evaluate Executors, Trustees & Agents.

Executors, trustees, and agents serve as fiduciaries with broad legal authority and accountability. Because these roles are activated during high-stakes and emotionally sensitive situations, this reassessment is essential to confirming that the individuals you named are still willing, able, and appropriate for these responsibilities. 

As you review the decision-makers included in your estate plan: 

• Confirm your fiduciaries are still capable and appropriate: Age, health, location, and availability all matter. Someone who was ideal years ago may no longer be the safest or preferred option today. In that case, now could be the perfect time to update your executor, trustee, and/or agent designations. 
• Consider potential conflicts or family strain: The most trusted individuals may still face divided loyalties in blended families or complex estates. On the other hand, neutral or professional fiduciaries may reduce risk and preserve relationships. So, don’t forget to factor this in as you review the key players in your estate plan.
• Verify designated backups are named and remain realistic: Backups refer to individuals named to take on certain responsibilities if your first choice is unable to do so when the time comes. This type of contingency planning can limit future court involvement when a primary choice is off the table.

4. Audit Beneficiary Designations.

Beneficiary designations refer to instructions tied directly to certain financial accounts and assets, such as (but not limited to): 

• Retirement plans
• Life insurance policies
• Stocks, bonds, and treasury securities
• Motor vehicles, boats, and recreational vehicles
• Real estate (via a Transfer on Death Deed)

As such, beneficiary designations typically operate outside your will or any trusts you have funded, and they are frequently overlooked during estate plan reviews, even though they often control the actual distribution of significant assets.

To thoroughly audit any beneficiaries you have named:

• Review your retirement and investment accounts: IRAs and 401(k)s often hold outdated beneficiaries due to job changes, remarriage, or death. Confirm you have named a beneficiary for these accounts and that the named individual still fits your current plan and wishes.
• Check life insurance policies and payable-on-death (POD) accounts: Life insurance proceeds and POD accounts pass directly to the named beneficiary, regardless of what your will or trust provides. Confirm that these beneficiaries are current, clearly identified, and coordinated with your broader estate planning objectives.
• Review transfer-on-death (TOD) designations: TOD designations, which are commonly used for brokerage accounts, securities, vehicles, and Texas real estate, should be reviewed for accuracy and alignment with your overall plan. Outdated or poorly coordinated TOD instructions can give rise to unintentional complications later.
• Look for inconsistencies across accounts: Conflicting beneficiary designations can spark family disputes and probate litigation, so identifying and resolving misalignment across accounts is integral to preserving clarity, intent, and efficient administration.

5. Review Asset Ownership & Titling, Not Just Asset Value.

Estate planning outcomes can depend heavily on how assets are owned, not simply what they are worth. In Texas, property characterization and titling errors can contribute to unnecessary probate and administrative complexity.

As you review these asset details: 

• Confirm community vs. separate property classifications: In Texas, incorrect characterization can materially alter how assets are distributed at death. Misclassified property may override your intent, complicate administration, and invite disputes, especially in blended families or second (or subsequent) marriages.
• Verify trust funding and account titling: A trust only works if assets are properly titled in its name. Accounts or property left outside the trust may be forced through probate or pass by default rules, undermining the purpose of the trust and increasing administrative burdens for beneficiaries.
• Review newer property and accounts: Assets acquired after your estate planning documents were signed could be overlooked. Without proper titling or beneficiary coordination, these assets may fall outside your intended plan and be distributed in unintended or inefficient ways.

6. Consider 2026 Law Changes & Planning Opportunities.

Although Texas does not impose an estate tax, federal estate and gift tax rules remain a critical planning variable. Additionally, changes scheduled to take effect in 2026 may significantly alter exemption levels and planning assumptions, creating both: 

• Opportunities for proactive adjustment 
• Risk for plans built under prior laws.

Here, it’s generally crucial to: 

• Review current federal estate and gift tax thresholds: Shifts in exemption amounts can directly affect lifetime gifting strategies, trust funding decisions, and the long-term viability of existing plans. Understanding where you fall under current thresholds can be essential to making more informed choices and sound updates.
• Evaluate whether prior planning still makes sense: Strategies designed around higher exemption levels or different tax assumptions may no longer reflect current laws or your financial profile. A targeted review can highlight whether existing structures remain effective or require recalibration.
• Prioritize flexibility over rigidity: Estate plans built solely to reduce taxes can become brittle as laws change. That’s why modern planning usually emphasizes adaptable structures that preserve options, accommodate future legislative shifts, and support broader family and asset-protection goals.

7. Address Digital Assets & Modern Access Issues.

These days, digital assets tend to play a central role in financial management. Yet, they are frequently overlooked in estate planning. When that happens, fiduciaries and family members may be unable to access critical accounts, manage obligations, or preserve valuable digital property.

To head that off and handle digital asset issues now:

• Inventory online financial and personal accounts: Identify banking platforms, investment portals, email accounts, cloud storage, and subscription-based services. A complete inventory allows fiduciaries to locate assets, manage ongoing obligations, and prevent accounts from being overlooked or lost.
• Plan for secure access and not password sharing: Sharing passwords can violate platform terms and compromise privacy. Proper legal authorization through estate planning documents and digital access provisions can empower fiduciaries to act lawfully while safeguarding sensitive information.
• Address business, intellectual property, and operational platforms: Websites, domain registrations, licensing portals, and digital business tools often control revenue and operations. Without planned access, digital disruptions can halt business activity, diminish asset value, and complicate administration.

8. Revisit Incapacity Plans.

Incapacity planning often receives less attention than wills and trusts, even though it is the part of an estate plan most likely to be used during a grantor’s lifetime.

To strengthen your incapacity planning:

• Review durable and medical powers of attorney: Confirm that these documents reflect your current preferences, designate appropriate agents, and comply with Texas statutory requirements. Outdated forms or poorly chosen agents can limit authority or delay critical decisions.
• Ensure HIPAA authorizations are broad and current: Without valid HIPAA authorization, even close family members may be denied access to medical information. Clear, up-to-date releases allow designated individuals to communicate effectively with healthcare providers and advocate on your behalf.
• Test documents for real-world usability: Banks, healthcare providers, and other institutions may reject outdated, overly restrictive, or unclear documents. Reviewing documents with practical implementation in mind can help prevent delays, refusals, and unnecessary court involvement when immediate action is required.

With current, well-drafted incapacity provisions, trusted individuals can act decisively without court involvement during medical or financial emergencies—precisely when time, clarity, and legal authority can matter most.

9. Organize, Communicate & Stress-Test the Plan.

Even the most well-drafted estate plans can fail if they cannot be located, understood, or implemented when the time comes. That’s why organization and communication are critical to translating legal intent into practical results, especially during emergencies or emotionally charged situations.

To make your estate plan usable when it matters most:

• Confirm document storage and access: Store original documents securely in an accessible place. Then, inform executors, agents, and trustees of where originals are kept, how to obtain copies, and when documents are intended to be used, so there’s no guessing and nothing’s left to chance later.
• Maintain a current advisor list: Estate administration can require coordination among legal, tax, and financial professionals. Keeping an updated list of advisors, including their contact information and roles, can prevent future delays, miscommunications, and fragmented decision-making.
• Walk through realistic scenarios: Testing the plan against real-life situations—such as incapacity, sudden death, or business disruption—can reveal gaps or conflicts that are far easier to address now than under pressure (and with more limited options) later.

Start the New Year With Clarity and Control

Estate planning is not about anticipating every possible outcome or preparing for catastrophe. It is about reducing uncertainty, preserving decision-making authority, and protecting the people who will eventually rely on the framework you put in place.

A New Year review offers a rare opportunity to bring your plan back into alignment with current laws, assets, and relationships, before misalignment fosters avoidable friction. By addressing these issues early in 2026, you can move forward with greater confidence, knowing your estate plan is actively working as intended.

Whenever it’s time to revisit or update your estate plan, TAW Law Texas is here to help.

Email us or call 512-827-9212
to talk to a trusted probate attorney in Austin now.

Our Austin estate planning attorneys advise individuals and families on wills and trusts, powers of attorney, probate and guardianship matters, and comprehensive estate planning strategies designed to evolve as life does.

Backed by years of local experience, we provide value-focused solutions and client-first service, representing grantors, beneficiaries, trustees, executors, and other parties throughout Greater Austin, including Travis County, Williamson County, Bastrop County, Blanco County, Hays County, Caldwell County, and beyond. 

Check out our reviews to see what our clients have said about us and how we may be able to help you.

Todd A. Wilson

Todd A. Wilson has been practicing law since 2007, with the aim of educating all strata of society and sharing crucial insights about the importance of estate planning, probate, and more.

The Law Office of Todd A. Wilson (also known as TAW Law TX) offers affordable estate planning and probate services.