2022 End of Year Checklist

30 Sept 2022 · 1 min

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In this informal, advisory video, the speaker outlines a practical end‑of‑year checklist for 2022 aimed at helping individuals and families avoid costly oversights in their financial and estate planning. He advises viewers to (1) compile a comprehensive list of all bank, savings, retirement, brokerage, and insurance accounts; (2) verify and update beneficiaries for each account, warning that outdated or deceased beneficiaries are common; (3) review and, if necessary, update wills or trusts, especially after major life events; and (4) ensure that any assets, such as real estate or new accounts, are properly titled in the name of an existing trust. The speaker emphasizes that completing these steps can save families significant money and prepare them for unexpected events, even humorously noting that the checklist will keep you ready should you die in 2023.

Chapters

We are about to begin the fourth quarter of the year. So this is your 2022 end of year checklist. These are some things you need to do to round out the year. Even though I'm going to give you this great list, I know 90% of you won't do them. But for those of you that will, this could save your family a ton of money. First, make a list of all your bank accounts, savings accounts, retirement accounts, brokerage accounts, insurance policies. Then for each and every one, check who your beneficiaries are. I've had clients who literally haven't checked their beneficiaries in 30 years, and when they did check, they find out that their beneficiary Jerry Taylor was an ex-spouse, a dead person, someone they haven't seen in 25 years. Next, does your will or trust need to be updated? If someone has died, gone missing, been abducted by aliens, then you probably need an update. Next, if you have a trust, make sure any land, homes, new accounts have been titled in the name of the trust. Once you get all that handled, if you need to die in 2023, you'll be ready. Follow, I got more.