2026 End of Year Estate Planning Checklist: Deadlines for Georgia Families and Business Owners

To keep your estate plan current, conduct an annual review of your key documents, confirm beneficiary designations are correct, and verify proper trust funding for any assets acquired this year. Complete all annual tax-exclusion gifts, 529 plan contributions, and charitable donations prior to December 31^st. Business owners should ensure proper digital asset access, verify power of attorney capabilities, and formalize succession planning for incapacity or death. Finally, inform your designated trustees and guardians where to access your physical documents before embarking on holiday travel.

It’s hard to believe that we are about to turn the page on 2026! Since we’re nearing the end of the year we want to take a look at all of the things you should consider before the new year. Annual exclusion gifts are due by December 31. It’s good to check any beneficiary designations, especially during open enrollment. It’s important to make sure your trust is properly funded with anything bought this year. And we always recommend knowing where your important documents are before any holiday travel. Read to the bottom to find our free end of year estate planning checklist 2026.

During open enrollment: Check your beneficiary designations

Beneficiary designations override your will, so this is a very important thing to double check yearly. It’s common for an ex-spouse, minor child, or deceased beneficiary to be left as a designated beneficiary. An easy fix is to name your trust as the beneficiary, and then everything is filtered through the trust.

What many people don’t realize is that when you open a new group life policy, it starts with a blank beneficiary form. If this is left blank, the proceeds may be paid to your estate and pass through probate, or go to whoever the policy’s default rules name, which may not match your plan. But if the named beneficiary is the trust, then the trustee will distribute the assets as the trust allows.

This time of year is also a wonderful time to check in with aging parents, as Medicare open enrollment runs October 15 through December 7. Many parents welcome their children’s help and feedback as it pertains to an estate planning checklist. So, give yourself permission to check in with Mom or Dad about anything they may need help with as the year is closing.

By December 31: Annual gifts and charitable giving

If you’re looking to make annual gifts for tax or other purposes, now is the time! Keep in mind that the annual gift tax exclusion for 2026 is $19,000 per recipient. Also, unused amounts don’t roll over to next year. So if you don’t hit the limit this year, you can’t roll over the missing amount to next year.

This is a great time of year to make 529 contributions. Whether you are a parent planning ahead or grandparents helping out, the deadline for these gifts to count toward your 2026 annual exclusion is December 31st. It’s worth noting that in Georgia there is a state income tax deduction if you contribute to a Path2College 529. The deduction is up to $4,000 per beneficiary for single filers and $8,000 per beneficiary for married couples filing jointly. Contributions made by April 15, 2027 can still be deducted on your 2026 Georgia return.

Now is also a wonderful time for charitable giving. Gifts must be made by December 31^st to count for 2026. Keep in mind that tax law did change this year so there are deductions for people who don’t itemize. There is potential tax savings here, but we always recommend you talk to your CPA. They can help you with any information needed for tax planning. 

Charitable giving is one of my favorite parts of estate planning. You can name a charity in your trust, set up specific charitable trusts, or you can name a charity as a retirement account beneficiary.

Before the year ends: Fund your trust

If you already have a trust set up, it’s important to reflect on your year (or years if this is your first time doing an end of year audit). What’s changed this year? Did you purchase real estate, set up a life insurance policy, or have a new child? Let’s make sure all of these changes are properly reflected in your plan.

Keep in mind, there are things we don’t generally recommend putting into a trust. For instance retirement accounts and HSAs usually pass through beneficiary designation and shouldn’t always go in your living trust. I wrote an article all about this and you can read it here. 

Your year-end business review: 5 estate planning questions for Georgia business owners 

If you own a business, it’s important to have a solid plan in place for your incapacity or death. Many people make assumptions about what will happen if they become incapacitated, but assumptions are not a good plan. Instead, create a plan that has provisions in place for incapacity or death. 

Start by asking yourself these questions:

1. Can someone access your business accounts and passwords? It’s wise planning to have a trustee or Power of Attorney in place to act as your agent in case of incapacity. A trustee can continue to act on your behalf after death without court involvement if your trust gives them the authority to do so. Georgia has a specific statute, O.C.G.A. § 53-13, for how trustees and agents may utilize your digital assets.
2. If you were incapacitated tomorrow, does your financial power of attorney give someone authority to run the business? Not all Power of Attorney documents are created equal. You need to know what yours says and does.
3. Are your business interests assigned to your trust? If your business existed before you created your trust, you need to complete an assignment document which assigns your interest in the business into the trust. If you are creating a new business, you can have the trust hold your interest from the start.
4. Do you have/need an LLC or S Corp? These business types offer different protections and tax options. 
5. Are the beneficiaries on key-person and buy-sell life insurance current? If not, it’s time to update them.

You have worked incredibly hard to start, nurture, and grow your business. As this year comes to a close, it’s good to ask yourself each of these questions and move forward on any outstanding issues. You’ll save yourself from potential trouble if something happens to you, and taking a moment to review your business needs will only save you time in the future.

Make sure someone can find your plan

Having a great estate plan is a good thing, but if you don’t tell someone where to find it, it doesn’t help anyone.

It’s important to keep your plan in a safe place. But your key people need to know where to find it. Now is a great time to locate the plan, do the audits mentioned above, and then tell your named agents and trustees where you are storing it. Some people have a safe in their home where they store their estate plan. Does your trustee have the combination to the safe? If you are utilizing a safe deposit box, can your trustee gain access to it? And do they know where your plan is? Now is the time to make sure everyone knows. 

Another really important question to ask yourself is do the named guardians of my minor children know they’re named? It’s important that they do. But it’s even more important that they were asked, not told. So many people assume that a loved one will take their children after their death, if needed. This may be true, but it’s important to ask and give your potential guardian time to respond with care. Your children are your most important asset. Make sure your guardian knows they are the ones you’re relying on.

Georgia also has what is called a Standby Guardian. This document allows you to name a guardian to care for your kids during your lifetime if you are unable to do so. In Georgia, a standby guardian steps in if a physician or nurse practitioner determines that you can’t care for your children because of a physical or mental condition, so it is most useful for sudden illness or other emergencies. Make sure your standby guardian knows they are on standby, and also provide them a copy of the document. For travel, another possibility is a Power of Attorney for the Care of a Minor Child. This document may be used by the caretaker when parents travel without the kids. 

The most important thing about your estate plan is that you, and the people that read it, understand what it says. This is why I always provide my clients with an easy-to-understand Estate Planning Flowchart and summary whenever we conclude a plan. If you don’t have a plan that is easy to understand, I’d love to help you create one before the year ends! It’s the best holiday gift you can give to yourself and your loved ones.

FAQ

What documents do you need for estate planning? 

Every family and estate is unique, so every estate plan should be tailored for the people who it serves. That being said, the vast majority of people need a trust, pour-over will, power of attorney, advance directive for healthcare, HIPAA release, and standby guardian. Other tools may be needed to create the right plan for you, but in most cases these documents are the right place to start.

Do I need to update my estate plan every year? 

Not usually. But you need to look at it every year, and then implement changes that reflect how your life has changed. Some years you won’t have to make any updates, but other years you’ll have things change in your life that need to be reflected in your plan. Do a yearly audit, make updates as needed.

Does Georgia have an estate tax? 

No. But the federal government does. The exemption for an individual in 2026 is $15M, and $30M for a married couple.

What assets should not go in a living trust? 

There can be a lot of nuance when it comes to what should and should not go into a trust. Every estate is different and deserves attention and detail before making decisions like this. That being said, accounts that pass by beneficiary designation, such as retirement accounts and HSAs, generally should not be retitled into your trust. Those accounts pass according to the beneficiary designation itself, so the designation is what controls where they go. If you’re considering a trust and struggling to determine what to put in it, contact me. I’d love to help you curate a plan that meets your needs.

Conclusion

Taking care of your estate plan isn’t just about  paperwork. It’s about giving yourself and your loved ones confidence, clarity, and peace of mind no matter what the future holds. Whether you need to update beneficiary designations, fund your trust with new assets, or establish business succession planning, tackling these before the year ends is the best holiday gift you can give yourself.

Don’t let another year pass with unanswered questions or outdated documents. Download my free ebook, Peace of Mind Through Estate Planning, to discover strategies for protecting your family, safeguarding your business, and securing your hard-earned assets.

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Ready to review or create your estate plan with a professional before the year ends? Schedule a strategy session!.

Author Bio

Sarah Siedentopf, Esq. is an estate planning and probate attorney based in Atlanta, Georgia, and the founder of Siedentopf Law. She specializes in helping individuals, families, and business owners navigate trusts, wills, powers of attorney, end-of-life planning, and probate administration. 

Sarah holds a Juris Doctor from the University of Tennessee College of Law and is licensed to practice in Georgia. Known for making legal concepts accessible and easy to understand, she focuses on custom, client-centered strategies to protect assets, plan for incapacity, and ensure smooth succession for families and small businesses. 

Year-end Estate Planning Checklist for Georgia Residents