Big Life Changes in 2025? Steps to Take Before Year-End | Ryan & Rouse

As 2025 draws to a close, many of us find ourselves reflecting on the waves of change that have marked the year. Whether it's a joyful marriage, a challenging divorce, the thrill of welcoming a new child, or the excitement of buying a new home, these big life shifts require us to pause and consider their impact on our legal and financial landscapes. Taking proactive steps now, even small ones, can bring immense peace of mind.

Welcoming a Child

The arrival of a new family member calls for more than just baby-proofing your home. You’ll want to revisit your will and designate legal guardians for your child. Additionally, adjusting beneficiary designations on your financial accounts is crucial to ensure your child's future security. For adoptive parents, it's vital to update court documents, adoption orders, and vital records to reflect this beautiful change.

Marriage or Divorce

Marriage and divorce are monumental changes that necessitate updates to several key legal documents. Ensure you update your will, powers of attorney, and health care proxies to reflect your changed circumstances. Beneficiary designations should also be revised. If you married without a prenup, consider drafting a postnup to clarify financial expectations. Don’t forget to check property titles and notify the Social Security Administration if there's a name change.

Buying a Home

Homeownership is a thrilling milestone, one that often comes with a myriad of responsibilities. It's essential to incorporate your new property into your estate plan. Review title ownership to confirm that it aligns with your intentions, and ensure your homeowner's insurance is adequate. Depending on your needs, creating a living trust might be beneficial to facilitate smoother property transfers in the future.

General Year-End Legal Check-In

Before you pop the champagne to welcome the new year, carve out some time for a comprehensive review of all your legal documents. Even if you’re unsure whether a specific life change requires legal action, this is an excellent opportunity to start the new year with clarity. An overarching evaluation ensures that all your documents are up to date and reflect your current wishes and circumstances.

Remember, reviewing your legal documents doesn’t have to be an overwhelming task. A little effort now can save significant stress later. If you're uncertain about the steps you need to take, consider reaching out to Ryan & Rouse for a consultation to ensure you're on the right path.