By now, Buffalo readers have swept up the confetti from the New Year's Eve parties, washed the champagne flutes and apologized to the neighbors for all the racket on the night of Dec. 31. But there is one more task they should try to check off, according to personal finance experts -- a quick update of estate plans.

One personal finance expert identified four things to keep in mind when you are making estate plans

Think about a point in the future when you may not be able to make your own choices: This is not a pleasant thought, we know. But as we live longer, more and more of us are likely to develop Alzheimer's or dementia, meaning this day will be a reality for many of us. That is why it is very important to have a durable power of attorney, healthcare proxy and a living will.

Are your goals still the same as they were when you wrote your will? If you wrote your will five or 10 years ago, give it a look to make sure it still reflects your wishes. It is not at all inconceivable that your desires have changed in that time, or perhaps your assets have shifted in a way that some editing is necessary to make your bequests worthwhile.

Check beneficiaries: After you die, your loved ones are going to be sad and stressed. Dealing with a hassle over whether you properly named them as a beneficiary is going to be one of the last things they want to do. That's why it is important that you take the time now to make sure you have done it correctly. It may be unpleasant for you, but it will spare your friends and family a little heartache in the future.

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