Estate Planning in July: A Mid-Year Check-In

July is an excellent time to reassess and update your estate plan. The mid-year point provides a natural opportunity to reflect on any changes in your life circumstances and ensure your estate plan aligns with your current wishes and goals. Here are a few key reasons why July is an ideal month for estate planning:

Reflect on Life Changes

Halfway through the year, it’s important to consider any significant changes that may have occurred, such as:

  • Marriage or Divorce: Update your beneficiary designations and estate documents to reflect your new marital status.
  • Birth or Adoption of a Child: Ensure your new family members are included in your will and trusts.
  • Major Purchases: Incorporate any new significant assets into your estate plan.

Review and Update Key Documents

  • Wills and Trusts: Revisit these documents to confirm they accurately reflect your current intentions.
  • Beneficiary Designations: Check your retirement accounts, insurance policies, and other financial accounts to ensure your beneficiaries are up to date.
  • Power of Attorney and Healthcare Directives: Verify that your chosen representatives are still suitable and willing to act on your behalf.

Take Advantage of Summer Downtime

With longer days and often more flexible schedules, summer provides an excellent opportunity to tackle estate planning tasks that may have been postponed.

Plan for Upcoming Tax Changes

Stay informed about potential tax law changes that may impact your estate. By planning ahead, you can make strategic decisions to minimize tax liabilities and protect your assets.

Schedule Professional Consultations

Consider meeting with an estate planning attorney or financial advisor. They can provide valuable insights and ensure your plan meets all legal requirements and best practices.

Organize and Communicate

Use this time to organize your important documents and communicate your plans with your loved ones. Clarity and transparency can prevent misunderstandings and ensure your wishes are carried out smoothly.


July is more than just a month for barbecues and vacations; it’s a prime time to focus on the future. Taking proactive steps now can provide peace of mind and secure your legacy for years to come. Don’t wait until the end of the year—use July to make sure your estate plan is as strong and comprehensive as it should be.