The start of a new year is the perfect time to set goals that protect your family, finances, and future. While many people focus on health, career, or personal growth resolutions, your legal and financial well-being deserves just as much attention. Here are the 10 legal resolutions everyone should consider for 2025 to ensure you’re starting the year on solid ground.
- Create or Update Your Estate Plan
If you don’t have an estate plan, make 2025 the year you get one in place. An estate plan isn’t just for the wealthy—it’s for anyone who wants to protect their loved ones and ensure their wishes are followed. If you already have one, review it to make sure it still reflects your current family, financial, and legal situation.
- Review Your Beneficiary Designations
Did you know beneficiary designations on accounts like life insurance and retirement funds can override what’s written in your will? Take time to ensure these designations are accurate and align with your overall estate plan.
- Organize and Digitize Important Documents
Gather your key documents, like wills, healthcare proxies, insurance policies, and financial records, and organize them in a way that’s easy for your family to access. Consider digitizing them and storing them securely to ensure they’re always available when needed.
- Work with a Financial Advisor
A trusted financial advisor can help you align your estate plan with your financial goals. Whether it’s planning for retirement, investing, or saving for education, their expertise ensures you’re on the right track for long-term success.
- Review Your Insurance Coverage
Take time to evaluate your homeowners, auto, life, and umbrella insurance policies. This is especially important if you’ve experienced major life changes in the past year. Make sure you have adequate coverage to protect yourself and your loved ones from unexpected events.
- Establish a Corporate Form for Your Business
If you own a business, 2025 is a great time to set up a proper legal structure like an LLC or corporation. This helps protect your personal assets from business liabilities and provides a foundation for growth.
- Discuss a Prenup if You’re Engaged
If you’re planning to tie the knot, consider discussing a prenuptial agreement with your partner. It’s not just for the wealthy—prenups provide clarity and protection for both parties and set the stage for a healthy financial partnership.
- Address Long-Term Care Planning
Planning for long-term care is essential for protecting your assets and ensuring you’ll have access to the care you need. Explore options like long-term care insurance or Medicaid planning to safeguard your future.
- Schedule an Annual Legal Review
Make it a habit to meet with your attorney every year to review your legal documents and financial plans. Life changes fast, and a quick annual check-up ensures your plans remain up to date.
- Create a Legacy Letter
A legacy letter is a personal way to share your values, life lessons, and hopes for the future with your loved ones. While it’s not a legal document, it adds meaning to your estate plan and helps preserve your family’s history.
Start 2025 with Peace of Mind
Taking the time to address these 10 resolutions will give you confidence and clarity as you move into the new year. Whether you’re securing your family’s future, protecting your business, or ensuring your financial plans are on track, these steps will help you start 2025 prepared.
If you’re ready to tackle any of these resolutions, contact us today. Let’s make 2025 the year you take control of your legal and financial future.