For many people in Ohio and across the country, a new year comes with new resolutions. Whether it's to stay fit, read more books or go on that vacation you've been daydreaming about, many people have at least thought about making some improvements. One thing you might not have considered -- but we think you should -- is to update your estate plan.

As you may know, estate plans can be very complex. Not only that, but they may need changes along the way. Updating an estate plan is easy to forget, but it is absolutely necessary in order to ensure your wishes are followed. Make sure to review all appropriate parts of your plan anytime you have a major change in your life, such as a divorce, birth of a child or marriage.

First, make sure to look over your basic documents. If you have a will or trust, make sure both still accurately reflect your wishes. An important thing to keep in mind right now is the federal estate tax exemption. It is currently at $5.12 million, but it is very possible it will drop down to $1 million in the next few years. Make sure to take this into account, or remind yourself to check again in five or 10 years.

Another thing to consider about the estate tax exemption is gifting. If the estate tax exemption goes down, it may be wise to consider giving away assets or putting them in a trust early on, so your estate won't be taxed later on. An experienced estate planning attorney may be helpful in determining how best to do this.

Next, take a look at any forms that have beneficiaries. These can include retirement accounts, 401(k)s or other workplace plans. Make sure you still approve of the named beneficiaries. These can be particularly important to review if you have recently gone through a divorce or gotten married. A 401(k) requires a spouse's written permission in order to change the beneficiary.

While these are just a few of the things you should look over, they offer a good start to making sure your estate plan is still accurate. Ohio residents who want to start the New Year off right may find it beneficial to speak with a legal professional who can help guide them through the process.

Source: Forbes, "Make a New Year's Resolution To Give Your Estate Plan a Checkup," Deborah L. Jacobs, Jan. 4, 2012