We’re getting to the end of the year. For many reasons, it’s time to reflect on what 2025 brought with it. This isn’t just about appreciating the blessings and challenges of life, but about what it might have done to your estate planning needs. Maybe you’ve never had an estate plan, but it’s especially important now. Or, some recent changes mean you need to alter your estate plan in some way. In either case, it’s important to consider your 2026 estate planning goals.
At Edward O. Moody, P.A., our Arkansas estate planning lawyers can help. We assist you in considering what has changed and how your estate plan should change accordingly.
Why Should I Think About Estate Planning for 2026?
An estate plan should evolve as your life changes. Whether it’s time to create your first one, or update your existing plan, here are some reasons it’s so important.
- Protects your families assets
- Tracks your investments and how to pass them down
- Avoids delays in probate
- Helps you consider healthcare decisions and end of life decisions
- Adapts to changes in tax laws
- Helps you plan for incapacity
Review Your Will and Trusts
Your will and any trusts need checked. Do they still work for you with everything that has changed? A review can make a big difference. You can:
- Update beneficiaries
- Account for life changes like divorce, marriage, or new children
- Modify guardianship provisions
- Manage trusts and assets within them
- Change trustees if needed
Evaluate Powers of Attorney
Powers of attorney empower someone you trust to help you handle your affairs. This can help with both legal powers and healthcare decisions. For 2026, you should:
- Designate someone with financial power of attorney in case you become incapacitated
- Pick a person you trust to help make health care decisions for you when needed
- Determine the scope of your powers of attorney
- Ensure the people you picked are still the ones you want to have legal power
Reassess Beneficiary Designations
Many assets pass outside of a will, including:
- Retirement accounts (401(k), IRA)
- Life insurance policies
- Payable-on-death bank accounts
Check to see that all of your beneficiary forms are up to date, and line up with your estate plan. Conflicts can cause problems down the road.
Consider Tax Planning Strategies
- Federal Estate Tax Exemption: While most Arkansas families may not face federal estate taxes, high-value estates should monitor exemption thresholds.
- Gift Planning: Annual gifts can reduce taxable estates while supporting loved ones.
- Charitable Giving: Donating to Arkansas nonprofits can provide tax benefits and align with family values.
Family Communication
Estate planning is most effective when families understand the plan. Consider:
- Sitting down with family members to explain your plan
- Explain why you made the decisions you did
- Share contact information for your attorney with the family
- Talk about executors and financial advisors
- Make your intentions clear so there is no confusion
What Arkansas Families Should Do in 2026
- Set a meeting with an Arkansas estate planning lawyer
- Review all of your legal documents for accuracy
- Update your beneficiaries
- Look at your tax-saving strategies
- Account for any changes that occurred in 2025 and before
- Pick legal and healthcare powers of attorney
- Create healthcare directives
- Organize your records
An experienced attorney walks you through these steps and more to ensure you have a comprehensive and effective estate plan for 2026 and beyond.
Get Ready for 2026 With an Updated Estate Plan
Estate planning is something you have to think about any time there is a major change. Making it once may not be sufficient to handle everything that life throws your way. As you prepare for 2026, reflect on what has changed and how it may have affected your Arkansas estate plan.
Let the dedicated estate planning attorneys at Edward O. Moody, P.A. review your case. Contact us today for a consultation.