A New Year – A Time for Reflection and Planning
As snow fell on New Year’s Day, I took some time to think about the important moments of 2025, the positive ones and the challenging ones.
Positive Life Events and Financial Planning Strategies
On the positive side, my niece and her spouse welcomed their second child. A new baby brings a lot of joy, but it’s also a good time to think about planning for the future. A life insurance policy can help support a child as they grow and provide financial protection at different stages of life.
My son also turned 21 this year. This milestone marks a new level of independence and is a great chance to start talking about basic financial and estate strategies aimed at securing his well-being now and in the future.
Another bright spot was my sibling successfully completing cancer treatment. A serious illness like this deeply affects individuals and their families and presents a range of emotional and financial challenges. Today, many life insurance policies offer living benefits, which may give policyholders access to money and support while they’re still alive, not just after death.
Challenges that Require Estate Updates
Along with these positive events, there were also challenges in 2025. My cousin went through a divorce after many years of marriage. Divorce ranks among life’s most stressful events and often requires updating an estate plan and changing beneficiaries on life insurance and retirement plans to match legal agreements.
I also mourned the passing of my dear uncle. The loss of a loved one not only requires managing difficult emotions, but also handling important tasks such as arranging services, managing paperwork, and distributing assets in line with the individual’s will.
In addition, my sibling’s family said goodbye to their beloved pet cockatiel after 30 years. Many animals — including horses, turtles, and birds — live for a long time, which makes planning for their care very important. A pet trust can help ensure animals are cared for properly. All U.S. states and the District of Columbia now recognize strategies to protect pets and manage the associated costs of their care.
Personally, I reached a milestone birthday and I’m engaged, prompting a review of my own estate plan and beneficiary choices. Effective estate planning ensures that assets are distributed appropriately, according to personal wishes, at the right time and in the right manner.
Life Insurance: A Key Part of Your Journey
If you’ve recently experienced important life events—such as a birth or adoption, marriage, divorce, bereavement, or medical diagnosis—you should take the time to review your estate plan and beneficiaries and make any necessary changes. Life insurance will continually play an important role in supporting your journey because…life happens.
If you are interested in talking about life insurance, please reach out to National Life Group to get the conversation started.
Margaret A. Muldoon, J.D., LL.M.
Margaret (Meg) Muldoon is an attorney with the Advanced Sales Team. Meg has spent her career guiding individuals and financial service professionals through asset distribution and estate planning process.
In her position at National Life Group, she offers comprehensive case design, technical, marketing, and educational support to National Life Group’s field partners, agents, and associates on matters pertaining to estate, charitable, executive benefit, and business planning. She does not practice law on behalf of National Life Group.
Meg possesses a J.D., an LL.M. in taxation, and a B.S. in Business Administration and related experience as an attorney in the financial services industry and in private practice. She was also an adjunct professor at Suffolk University Law School. She is a member of the State Bar of Massachusetts and is admitted to practice before the United States Supreme Court.