How Estate & Probate Planning Fits into Your Year-End Strategy

When most people hear “year-end planning,” they think about taxes, budgets, or payroll. But one of the most strategic and often overlooked steps you can take before the year closes is reviewing your estate and probate plan.

At MCAC, we help Alaskan business owners look beyond the balance sheet to protect what they’ve built for the long term. Year-end is the perfect time to make sure your estate and probate documents align with your current business, family, and financial goals.

Why Year-End Is the Ideal Time to Review Your Estate Plan

A lot can change in a year: business growth, new assets, family updates, or ownership transitions. Reviewing your estate plan in November or December ensures it still reflects your wishes and your reality.

If you’ve added new partners, purchased property, or restructured your business, those details should be reflected in your estate and probate documentation. Aligning your financial statements with your legal documents now can prevent confusion or costly probate challenges later.

Understanding the Connection Between Estate and Probate Planning

Estate planning defines how your personal and business assets are managed or distributed when you’re no longer here. Probate is the court-supervised process that follows.

Without clear documentation, the probate process can be lengthy, expensive, and emotionally draining for your family or business partners. Proper planning, drafted and updated with your CPA and attorney can minimize those complications.

At MCAC, we work with Alaskan attorneys to help clients integrate their estate and business plans, so ownership transfers and valuations happen smoothly.

Key Areas to Review Before Year-End

1️⃣ Business Ownership and Succession

If you co-own a business, confirm that your estate plan aligns with your buy-sell agreement and succession strategy. These documents should complement, not contradict each other.

2️⃣ Asset and Liability Inventory

Update your list of assets, accounts, and outstanding loans. This helps ensure nothing gets overlooked during probate or estate administration.

3️⃣ Beneficiary Designations

Review retirement accounts, insurance policies, and transfer-on-death forms. Outdated designations can override even a current will.

4️⃣ Executor and Power of Attorney Roles

Make sure the individuals you’ve designated are still appropriate choices and understand their responsibilities.

5️⃣ Tax and Legal Coordination

A CPA can help you understand potential estate tax implications, while your attorney ensures the documents are compliant and enforceable under Alaska law.

How MCAC Supports Year-End Estate Reviews

We don’t draft legal documents, but we do help make sure your financial side aligns perfectly with your estate plan. Our team reviews ownership structures, valuations, and records to ensure your plan is accurate and audit ready.

We also work with attorneys and insurance advisors to simplify communication between your legal and financial professionals, so your plan works as one cohesive strategy.

Protecting More Than Assets

Estate and probate planning isn’t just about wealth; it’s about peace of mind. Taking time to review your plan at year-end protects your family, your business, and the legacy you’ve worked so hard to build.

📞 Ready to align your estate plan with your business goals? MCAC helps Alaskan business owners prepare with confidence before the year closes.