Year-end estate planning checklist

For a will, December 31 is not a legal deadline. A will signed on January 5 is as valid as one signed on December 20, and the services below sell the same documents in both months. The year end matters because it is when people already sit down with their accounts, and because two things do run on calendar years: the IRS gift tax annual exclusion, and the review habit that every service recommends.

The gift tax exclusion resets each calendar year. The IRS says 'Gifts that are not more than the annual exclusion for the calendar year' are generally not taxable gifts, and its table lists $19,000 per donee for 2026, the same as 2025, or $38,000 from two spouses¹⁹. 'The donor is generally responsible for paying the gift tax'¹⁹. Whether a particular transfer uses this year's or next year's exclusion is a question for a tax professional; the figure here is only what the page says.

The basic exclusion amount for 2026 is $15,000,000. Both IRS pages say Public Law 119-21 amends section 2010(c)(3) to that figure for calendar year 2026; the year-of-death table shows $13,990,000 for 2025¹⁹²⁰. Most estates are nowhere near it. We quote it because the question comes up every December and the number changed this year.

Services recommend a periodic review. Trust & Will suggests reviewing a will 'after any life milestone or every three to five years'¹; LawDepot lists a change in relationship status, having children, a significant change in property, and a wish to disinherit someone⁹; LegalContracts adds moving to another state, because 'not all states recognize out-of-state Wills as valid', and the death of an executor or significant beneficiary¹¹; Rocket Lawyer's will page says to update 'every few years or so, especially when a major change takes place'¹⁶. A year-end pass covers all of those at once.

LawDepot's will page lists what 'typically can't be transferred through a Will': 'Life insurance', '401(k) plan assets', 'Pension plan assets', 'Retirement plan assets', 'Annuities', 'Property held in a trust' and a 'Matrimonial home held jointly'. 'These assets already have mechanisms for designating beneficiaries directly, so they don't go through a Will'⁹.

Trust & Will's FAQ says the same of retirement accounts: 'Retirement accounts like 401(k)s and IRAs typically pass directly to named beneficiaries outside of both your trust and probate'³. Rocket Lawyer's will page adds: 'If you have a life insurance policy, make sure to update your beneficiaries to keep them aligned with the beneficiaries designated in' the will¹⁶.

So the December list has two halves. One is the documents: will, power of attorney, health care directive. The other is the forms held by each bank, broker, insurer and retirement plan, which pass those assets whatever the will says. Pull the current beneficiary on each account and compare it with the will. If you divorced this year, read updating a will after a divorce for what state law revokes and what it does not.

No gift cards, on the pages we read. None of the eight services' pricing, plan or home pages on Oct 14, 2026 offered a gift card or a 'buy as a gift' checkout. trustandwill.com/gift answered 404 and legalzoom.com/gift-cards answered 410⁵⁶. If you want to pay for someone's will, the published routes are below; the person the will is for still has to answer the questions, review the document and sign it under their state's rules.

Trust & Will. 'Can I write a Will for someone else? Yes, you can create a Will for someone else. Whether it's for your spouse, child, or a loved one with dementia, Trust & Will makes the process easy. Keep in mind however, that the person for whom the Will is created (known as the Testator) will need to review and approve the document in order for it to be valid.'¹ Its Learn Center article explains the account choice: 'if you're creating a Will for somebody else, choose "just me" in the signup. Each person for whom a Will is created (the "Testator") will need a separate account', and 'if you create a Will for your parents, you would list yourself and any siblings as children'⁴. Couples choose 'me and my spouse' for a shared account⁴. The page also offers 'Payment plans' of '4 equal, interest-free payments'¹.

LawDepot and LegalContracts. LawDepot's will questionnaire opens with 'Myself' or 'Someone else': 'Select whether the Will is for you or someone else. Then enter the testator's full legal name'⁹. LegalContracts' first field reads 'Enter the name and personal information of the person the Last Will is for'¹¹. Both are subscriptions, so a gift here is really a trial or a year of access paid on your card: LawDepot's 7-day trial renews at $49 a month and its one-year subscription is $155.88; LegalContracts' trial renews at $33 a month and its year is $95.88¹⁰¹¹.

WillMaker. One purchase covers a household: 'you can create up to five of each document type for yourself and your immediate family. You can make five wills, five powers of attorney, five health care directives, etc.'¹³ WillMaker is 'intended for personal use only'¹³, and the online version allows you to 'Make and revise documents for one year from your date of purchase'¹².

LegalZoom, Rocket Lawyer, US Legal Forms and EZ Will and Trust publish no 'for someone else' option on the pages we read^6151718. EZ Will and Trust's FAQ answers 'Do You Offer Discounts?' with 'Yes. Visit our website regularly to stay informed about special promotions and discount offers', without stating one¹⁸.

Is the price of a will a taxable gift? The IRS defines a gift as 'Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return', and says gifts not more than the annual exclusion are generally not taxable gifts¹⁹. We draw no conclusion about any particular payment; ask a tax professional you choose.