Mid-Year Estate Planning Checkup: 5 Documents Every Georgia Family Should Review This Summer

Summer vacations often get us thinking about what matters most: family, security, and making memories. It’s also the perfect time to take stock of your estate plan. When was the last time you reviewed the documents that protect your family’s future?

At Castor Sprattlin Law Group, we recommend annual estate planning reviews for all our clients. Documents that made perfect sense five years ago may no longer reflect your family situation, your assets, or your wishes. This guide walks you through the five most important documents to review and what to look for in each.

Document #1: Your Last Will and Testament

Your will is the foundation of most estate plans. It designates who inherits your assets, names a guardian for minor children, and appoints an executor to manage your estate. Review your will with these questions in mind.

Are Your Beneficiaries Still Correct?

Life changes affect beneficiary decisions. A divorce means you probably don’t want assets going to your ex-spouse. A death means named beneficiaries need updating. New children or grandchildren may need to be added. Review every person named in your will and confirm they’re still the people you want to inherit.

Is Your Executor Still the Right Choice?

Your executor handles the practical work of settling your estate: gathering assets, paying debts, filing taxes, and distributing inheritances. Make sure your named executor is still willing and able to serve, still lives reasonably close or is able to travel, is still someone you trust completely, and has the organizational skills the role requires.

Does the Guardian Designation Still Make Sense?

If you named a guardian for minor children, consider whether that person remains the best choice. Their circumstances may have changed. Your children’s needs may have evolved. If your children have reached adulthood, the guardian designation is no longer needed but should be removed for clarity.

Has Georgia Law Changed?

Estate planning laws evolve. A will drafted ten years ago may reference laws that have since changed. Having your attorney review your will periodically ensures it still complies with current Georgia law and takes advantage of any beneficial changes.

Document #2: Your Living Trust

If you have a living trust, it requires the same thoughtful review as your will, plus attention to funding.

Is the Trust Properly Funded?

A living trust only controls assets transferred into it. Review your asset ownership to confirm property is titled correctly. It’s common for families to create a trust and then acquire new assets without adding them to the trust. Your home, bank accounts, investment accounts, and other significant assets should be owned by the trust.

Are the Distribution Terms Still Appropriate?

Trust distribution terms reflect your wishes at a point in time. A trust designed to hold assets for children until age 25 may need adjustment if your youngest is now 23. Terms that made sense when your children were young may be unnecessarily restrictive for adult beneficiaries.

Is Your Successor Trustee Still the Right Person?

Your successor trustee will manage trust assets if you become incapacitated and distribute them after your death. Confirm this person is still willing and able to serve. Consider whether their circumstances have changed in ways that affect their suitability.

Document #3: Your Financial Power of Attorney

A financial power of attorney gives someone authority to manage your finances if you become unable to do so yourself. This document is critical for avoiding guardianship proceedings if you’re incapacitated.

Does Georgia Recognize Your Power of Attorney?

If your power of attorney was executed in another state, it may not be fully recognized in Georgia. Georgia has specific statutory requirements for powers of attorney. Having a Georgia attorney review and potentially update your document ensures it will be accepted by Georgia banks and other institutions.

Is Your Agent Still the Best Choice?

The person you chose to manage your finances five or ten years ago may not be the best choice today. Consider whether they’re still trustworthy, capable, and available. Make sure they know where to find important documents and how to access your accounts.

Does the Document Include Necessary Powers?

Financial powers of attorney should specifically enumerate the powers granted. Georgia law has specific requirements for certain powers, like the ability to make gifts or change beneficiary designations. Ensure your document grants the powers your agent may actually need.

Document #4: Your Healthcare Directive

Healthcare directives, also called advance directives or living wills, communicate your wishes about medical treatment if you can’t speak for yourself. Georgia recognizes both healthcare powers of attorney and living wills.

Is Your Healthcare Agent Still Appropriate?

Your healthcare agent makes medical decisions on your behalf if you’re incapacitated. This person should understand your values and be willing to advocate for your wishes, even in difficult situations. Confirm they’re still the right choice and that they understand what you would want.

Do Your Instructions Reflect Your Current Wishes?

Preferences about end-of-life care can change as we age, as health conditions develop, or as we see others go through medical situations. Review your instructions about life support, artificial nutrition, pain management, and other treatment decisions. Have honest conversations with your healthcare agent about your current wishes.

Have You Completed HIPAA Authorization?

A separate HIPAA authorization allows named individuals to access your medical information. Without this document, family members may be unable to get information about your condition. Review who you’ve authorized and update as needed.

Document #5: Your Beneficiary Designations

Some of your most valuable assets pass outside your will through beneficiary designations. These often-overlooked designations can override your will and trust, making their review essential.

Retirement Account Beneficiaries

Your 401(k), IRA, and other retirement accounts have beneficiary designation forms on file with the account custodian. These designations control who inherits the account, regardless of what your will says. Review these annually and update after any significant life change.

Life Insurance Beneficiaries

Like retirement accounts, life insurance proceeds go to named beneficiaries, not according to your will. Check your designation for each policy. Consider whether the beneficiary designation still reflects your wishes and whether contingent beneficiaries are named.

Payable-on-Death and Transfer-on-Death Designations

Bank accounts, brokerage accounts, and even vehicle titles in Georgia can have POD or TOD designations that transfer ownership upon death. Review these designations to ensure they align with your overall estate plan.

Do Designations Coordinate with Your Estate Plan?

Beneficiary designations should work in harmony with your will and trust, not against them. If your will divides your estate equally among three children, but your retirement account still names your deceased spouse, the intended equal distribution won’t occur. Work with your attorney to ensure all designations coordinate.

Estate Planning Review Checklist

Use this checklist to guide your mid-year estate planning review:

Personal Information

• Has your marital status changed?
• Have children or grandchildren been born?
• Have any beneficiaries passed away?
• Have you moved to a new state?
• Have your relationships with named individuals changed?

Asset Changes

• Have you acquired significant new assets?
• Have you sold or disposed of assets mentioned in your plan?
• Has your overall net worth changed significantly?
• Have you started or sold a business?
• Have you inherited assets from others?

Document Review

• Can you locate all your estate planning documents?
• Do your named agents know where documents are kept?
• Have you reviewed documents with an attorney in the past 3-5 years?
• Are all documents signed and witnessed properly?

Beneficiary Designations

• Have you reviewed all retirement account beneficiaries?
• Have you reviewed all life insurance beneficiaries?
• Have you reviewed POD/TOD designations on bank and brokerage accounts?
• Do all designations coordinate with your will and trust?

When Should You Update Estate Planning Documents?

Beyond annual reviews, certain events should trigger immediate attention to your estate plan.

Immediate Updates Needed

Update your documents right away after marriage or divorce, the birth or adoption of a child, the death of a spouse, beneficiary, or named agent, receiving a significant inheritance, buying or selling a home, starting or selling a business, or moving to a different state.

Review Within 30 Days

Schedule a review within 30 days of significant changes in your health or the health of named agents, major changes in financial circumstances, changes in relationships with beneficiaries or agents, or changes in tax laws that affect your plan.

Schedule Your Estate Planning Review

Taking time this summer to review your estate planning documents is one of the best gifts you can give your family. Knowing your wishes are documented and your loved ones are protected brings peace of mind.

At Castor Sprattlin Law Group, we help Georgia families create and maintain estate plans that protect their legacies. Whether you need a complete estate plan review, updates to existing documents, or are starting from scratch, we provide personalized attention to your specific situation.

Contact us at 404-410-3075 to schedule an estate planning review. We serve families throughout metro Atlanta and across Georgia.

Castor Sprattlin Law Group, LLC
1995 N. Park Place
Atlanta, GA 30339
Phone: 404-410-3075
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