Wrap Up 2025 with a Year-End Legal and Financial Checkup

Finish this year strong and start the new year with confidence by scheduling a year-end legal and financial checkup.

As the year draws to a close, most of us are busy with family gatherings, travel plans, and holiday preparations. But before the calendar flips, it’s worth adding one more important task to your list—a year-end legal and financial checkup.

Taking a few hours now to review your key documents and accounts can prevent future problems, protect the people you love, and make sure your wishes are carried out exactly as you intend. At Kimbrough Law, we encourage every family we serve to make this review a yearly tradition.

Whether you’re retired or still planning for it, here’s what to focus on before year-end.

1. Confirm Beneficiary Designations

Many people assume their will controls who inherits everything, but that’s not always true. Assets such as life insurance policies, IRAs, 401(k)s, and some bank or brokerage accounts pass directly to the individuals listed as beneficiaries on those accounts. If you’ve had a marriage, divorce, birth, or death in the family this year, take time to review and update every beneficiary form. Outdated designations can cause heartache later—and even result in money going to the wrong person.

Your year-end checklist:

• Review all IRA, 401(k), and life insurance beneficiary forms

• Add or update contingent (backup) beneficiaries

• Make sure names and spellings match your current legal documents

2. Review How Assets are Titled

The way your assets are titled determines how they transfer—and whether they might end up in probate. If you’ve created a trust-based plan with our office, make sure your accounts and property are properly titled in the name of your trust. Be careful with joint ownership as well. Adding a child’s name to a bank account or deed might seem convenient, but it can create tax, Medicaid, or creditor issues down the line.

Your year-end checklist:

• Review home and vehicle titles, bank and investment accounts

• Ensure trust assets are properly funded

• Record any new deeds if ownership has changed

3. Update Your Advance Directive for Healthcare

Your healthcare power of attorney, living will, and financial power of attorney speak for you if you cannot. These documents should reflect your current wishes and trusted decision-makers. If it’s been more than five years since you signed them—or if your chosen agents’ circumstances have changed—update them. Having current directives spares your family stress and confusion in a medical emergency.

Ask yourself:

• Is my named decision-maker still the best choice?

• Do they know my wishes for care, treatment, and living arrangements?

• Are all phone numbers and contacts current?

4. Explore Year-End Giving and Charitable IRA Rollovers

If you’re 70½ or older, a Qualified Charitable Distribution (QCD) from your IRA can count toward your required minimum distribution without adding to your taxable income. It’s a smart way to support your favorite cause—while reducing your tax bill. You can also consider donating appreciated stock, funding a donor-advised fund, or reviewing charitable beneficiaries in your estate plan. Thoughtful giving before December 31 can strengthen your community and align with your long-term legacy goals.

5. Schedule Your January Planning Session

The new year brings new tax thresholds, Social Security updates, and fresh opportunities for long-term care planning. Scheduling a 2026 Strategy Session with Kimbrough Law in January ensures that your legal and financial roadmap stays current and complete. During that meeting, we can:

• Review recent or upcoming law changes that affect Georgia families

• Assess your current financial and health-care powers of attorney

• Update your plans to address future long-term care needs

Finish Strong, Start Confident with a Year-End Legal and Financial Checkup

As you wrap up 2025, take time to confirm that your plan still fits your life. Beneficiaries, titles, and directives may seem like small details—but they determine how smoothly your family can act on your behalf in the years ahead.

If it’s been more than a year since your last review, schedule your year-end checkup or January planning session with Kimbrough Law today. Our team is here to help you protect what matters most—your family, your independence, and your peace of mind.