For many high‑net‑worth families—especially those with $500,000 or more in investable assets—January is one of the most strategic times of the year to refresh your estate plan. Whether you call Birmingham, Alabama home or live elsewhere in the country, early‑year planning offers clarity, time, and opportunity—three critical ingredients for protecting your wealth and positioning your family for long‑term success.
A Fresh Start with Full Financial Clarity
January uniquely offers a complete financial snapshot. Your accounts have closed for the year, markets have settled, tax thresholds have reset, and any major life changes from marriages to business transitions can now be evaluated with full transparency.
This timing is especially important given that only 24% of Americans currently have a will,1 a significant decline from previous years. Even more striking, 64% of Americans ultimately die without any estate plan at all,2 often leaving families to navigate probate, asset distribution, and tax challenges without guidance.
Beginning your review in January gives you the longest possible runway—more than 11 months—to update key components such as:
- Beneficiary designations
- Wills, trusts, and guardianship selections
- Account titling and TransferonDeath registrations
- Charitable and gifting strategies
- Insurance coverage aligned with estate goals
If you’d like to revisit the fundamentals, Fairvoy has a helpful primer:
🔗 Understanding Estate Planning Essentials
Proactive Planning, Not Crisis Management
Families often rush to update their estate plans toward the end of the year, when attorneys and tax professionals are at their busiest. January flips that script entirely giving you time, attention, and space to make thoughtful, valuesdriven decisions.
1. More Access to Your Advisory Team
Starting early means estate attorneys, wealth advisors, and CPAs can collaborate more easily. This is crucial because 52% of Americans say estate planning feels confusing,3 and clear guidance help alleviate that uncertainty.
If you’re unsure where to start or want seasoned guidance, Fairvoy’s advisory team specializes in helping highnetworth families navigate both the financial and emotional aspects of estate and legacy planning.
2. Time for Meaningful Family Conversations
Estate planning is deeply relational. Yet 43% of Americans delay planning simply due to procrastination,4 and 27% of parents avoid planning because the topics feel uncomfortable.5 Earlyyear planning gives families time to reflect, communicate, and align around shared intentions.
Fairvoy’s own insights reinforce this: 70% of wealth transfers fail, and 60% fail specifically due to communication breakdowns, not financial issues.6
🔗 https://fairvoypw.com/5-key-questions-every-family-should-ask-before-passing-down-wealth/
3. A Full Year for TaxEfficient Strategies
Many of the most powerful estateplanning strategies, trust funding, charitable giving, Roth conversions, and morebenefit from a long-time horizon.
This is especially relevant now that 90% of Americans worry about the impact of taxes on inherited assets and 86% believe taxminimization is essential to their estate plan.7 Early year preparation ensures you can seize opportunities without the pressure of December deadlines.
Why January Matters Even More for Birmingham Families
Birmingham households often face estate planning dynamics that benefit from early attention:
- A strong presence of privately held businesses
- Real estate heavy portfolios including rental properties and family land
- Closeknit, multigenerational structures with shared financial responsibilities
Completing updates in January gives your advisory team more time to coordinate business valuations, trust strategies, charitable giving, and tax planning tailored to both Alabama law and your family’s longterm goals.
Key Statistics That Highlight the Value of EarlyYear Planning
These external data points reinforce why January is such a valuable planning window:
- Only 24% of Americans have a will (2025).1
- 64% of Americans die without an estate plan, leaving assets exposed to probate.2
- 52% say estate planning is confusing, which often leads to delays.3
- 43% of Americans procrastinate on creating a will, and 27% avoid it due to discomfort.4,5
- Over $105 trillion will transfer between generations in the next 25 years.8
- 90% of Americans are concerned about taxes affecting inherited wealth.7
Together, these statistics show that earlyyear planning is no longer optional, it’s essential.
Start the Year—and Your Legacy—With Confidence
Your estate plan should evolve alongside your family, your wealth, and the broader economic landscape. Updating it in January ensures you begin the year protected, prepared, and proactive.
Whether you’re reviewing your estate plan for the first time in years or making targeted adjustments, our advisors can help you align your financial strategy, family dynamics, and longterm goals.
If you’re ready to begin your January review or want personalized estate planning support, we’re here to guide you every step of the way.
👉 Contact Fairvoy Private Wealth — https://fairvoypw.com/contact/
Footnotes (External Sources)
1. Only 24% of Americans have a will in 2025. Source: CEPDC Estate Planning Statistics (2025). https://www.cep-dc.org/estate-planning-statistics/
2. 64% of Americans die without an estate plan. Source: WifiTalents Estate Planning Statistics (2025). https://wifitalents.com/estate-planning-statistics/
3. 52% say estate planning is confusing. Source: Gitnux Estate Planning Statistics Report (2025). https://gitnux.org/estate-planning-statistics/
4. 43% procrastinate on creating a will. Source: Gitnux Estate Planning Statistics Report (2025). https://gitnux.org/estate-planning-statistics/
5. 27% of parents find estate planning uncomfortable to discuss. Source: Gitnux Estate Planning Statistics Report (2025). https://gitnux.org/estate-planning-statistics/
6. 70% of wealth transfers fail; 60% due to communication issues. Source: Fairvoy: 5 Key Questions Every Family Should Ask Before Passing Down Wealth. https://fairvoypw.com/5-key-questions-every-family-should-ask-before-passing-down-wealth/
7. 90% worry about taxes; 86% prioritize tax reduction. Source: Vanilla 2025 State of Estate Planning Report. https://www.justvanilla.com/blog/estate-planning-statistics-2025
8. Over $105 trillion will transfer in the next 25 years. Source: CEPDC Estate Planning Statistics (2025). https://www.cep-dc.org/estate-planning-statistics/