In a special feature this quarter, Lena McQuillen, CFP® (Vice President and Director of Financial Planning) and Dave Jones, JD, LLM, CFP® (Senior Vice President and Director of Estate Strategy) have joined forces and prepared a set of practical ways to refresh and organize your finances this season.

 

As the seasons change, it’s an ideal time to refresh and organize different aspects of life—including your finances. Making improvements doesn’t have to be overwhelming or time-consuming. The power of small, actionable steps is that they add up over time, leading to meaningful progress. Instead of tackling everything at once, focusing on quick, manageable tasks ensures steady progress without the stress of a complete financial overhaul.

Each of the following steps is simple to implement and provides a tangible benefit. Whether you take on one today and another next month or work through them gradually, every action moves you toward a stronger financial foundation. Setting aside just 15-30 minutes each week for financial check-ups can make these tasks feel effortless while delivering long-term security and peace of mind.

  1. Use Everplans for Important Documents

Keeping important financial documents in order can make a significant difference in times of need. Yet, many people store essential papers in multiple places, making access difficult for both them and their families. Everplans is a secure digital platform that allows you to safely store and organize important financial, legal, and personal documents in one place. This simple step helps ensure critical information is available when needed.

Time commitment: 30-45 minutes.

How to get started:

  • Upload estate planning documents—wills, trusts, powers of attorney, and advance directives.
  • Store financial records, such as bank accounts, investment portfolios, and retirement plans.
  • Keep personal records (birth certificates, marriage licenses, Social Security information) in a secure location.
  • Don’t forget to include legacy items like family recipes, cherished photos, and letters to loved ones.
  • Assign access to trusted individuals so they know how to retrieve documents when needed.

 

  1. Freeze Your Credit and Monitor Your Credit Report

Identity theft can be financially and emotionally devastating, and prevention is much easier than recovery. One of the most effective ways to protect yourself is by freezing your credit, which blocks unauthorized access to your financial profile. It’s free and quick to freeze your credit, and you can temporarily lift or remove the freeze when needed. Additionally, monitoring your credit report helps catch inaccuracies and signs of fraud early.

Time commitment: 15 minutes.

How to take action:

  • Contact each of the three major credit bureaus separately to place a freeze on your credit. They’ll ask for your full name, date of birth, Social Security Number, and address, so be prepared.
  • Each bureau will issue a PIN or password, store this securely for future updates
  • Review your credit report annually to ensure accuracy.

 

  1. Streamline Subscriptions and Recurring Expenses

Monthly and annual subscriptions can quietly accumulate, leading to unnecessary spending. Many of these expenses go unnoticed or are no longer providing value. Taking a few minutes to review and optimize recurring charges can free up resources for more meaningful financial priorities.

Time commitment: 15-20 minutes.

Steps to simplify your subscriptions:

  • Review recent bank and credit card statements to identify recurring charges.
  • Cancel or downgrade subscriptions that are no longer used or needed.
  • Set calendar reminders for renewals of major services to reassess their value before automatic charges occur.

 

 

 

  1. Update Digital Passwords and Security Measures

Cybersecurity threats continue to evolve, and financial accounts are prime targets for fraud. Strengthening your digital security doesn’t require complicated tech skills—small updates can make a big difference in protecting your wealth.

Time commitment: 20 minutes.

Easy ways to enhance digital security:

  • Update passwords for financial and personal accounts—if you’ve been using the same password for years, now is the time to change it.
  • Avoid using the same password across multiple platforms.
  • Enable two-factor authentication whenever possible to add an extra layer of protection against unauthorized access.
  • Use a password manager to securely store login credentials rather than relying on memory or sticky notes.

 

  1. Conduct a Beneficiary Check-Up

Most financial institutions allow you to designate beneficiaries, which ensures that your assets transfer smoothly to the right individuals when the time comes. However, life events—such as marriages, divorces, or births—can impact your original choices. A quick check of your financial accounts, either online or with your provider, ensures that your assets are aligned with your wishes. This small but essential step prevents unnecessary legal complications down the road.

Time commitment: 20-30 minutes.

Where to check beneficiaries:

  • Retirement Accounts, including 401(k), IRA, and Roth IRA
  • Life Insurance Policies
  • Bank and Investment Accounts
  • Estate Planning Documents

 

 

 

 

  1. Review Annual Gifting and Charitable Contributions

Strategic annual gifting can help reduce estate tax burdens while allowing you to support your loved ones and favorite causes. Whether giving to family, friends, or charities, a structured approach can ensure your generosity is both intentional and efficient.

Time commitment: 30 minutes

How to approach gifting:

  • Review annual exclusions – You can gift up to $18,000 per recipient in 2024 without incurring gift taxes.
  • Evaluate Donor-Advised Funds (DAFs) or direct charitable gifts to optimize tax efficiency.
  • Plan the timing of gifts, as early-year contributions may provide greater impact.

 

 

 

  1. Ensure Proper Titling of Accounts and Assets

Properly titling your financial accounts and assets is one of the simplest yet most effective ways to ensure your estate plan functions as intended. Incorrect titling can help you avoid future headaches including probate delays, tax inefficiencies, or unintended asset distribution.

Time commitment: 30-45 minutes.

What to review:

  • Confirm that bank, brokerage, and investment accounts are correctly titled.
  • Ensure real estate properties are held under the appropriate ownership structure.
  • If you have a trust, check that assets are titled in the trust’s name to avoid probate delays.

 

 

 

Final Thoughts: Small Steps, Big Impact

Taking small, thoughtful steps today can make a significant difference in your financial security. Whether you tackle one item this month or make financial check-ups a regular habit, each action helps build a stronger, more organized financial future.

As always, your Investment Counselor is here to help with any of these steps. If you have questions or need guidance, don’t hesitate to reach out.

A few minutes each week can go a long way, keep track by checking off each step below.

  • Use Everplans for Important Documents
  • Freeze Your Credit and Monitor Your Credit Report
  • Streamline Subscriptions and Recurring Expenses
  • Update Digital Passwords and Security Measures
  • Conduct a Beneficiary Check-Up
  • Review Annual Gifting and Charitable Contributions
  • Ensure Proper Titling of Accounts and Assets

 

 

 

 

 

 

 

 

 

 

 

1 Berkshire Hathaway Inc. News Release. 25 November 2024. https://www.berkshirehathaway.com/news/nov2524.pdf