National Regifting Day: Regifting for Your Future

During the holidays, we usually receive at least one gift that, let’s face it, falls a bit flat.

When we were young, it might have been an itchy sweater from Grandma or a toy from Mom and Dad that we had outgrown. As adults, maybe someone got your clothing size wrong or misjudged your taste in jewelry, or you ended up with a regrettable White Elephant exchange gift.

You could be honest with the gift giver and request a return or an exchange, but you do not want to hurt their feelings. So you act happy and surprised, though you already know the gift is bound for a box in the basement or a future trip to Goodwill. Then you think of someone who would like it, and a plot is hatched: the regift.

National Regifting Day takes place on the Thursday before Christmas and celebrates giving an unwanted gift to someone else—especially at holiday office parties—as a way to promote sustainability and mindful consumption.¹ Observers of the day generally follow a few simple rules: do not regift the item to the original giver, do not regift something handmade or personalized, and always rewrap it thoughtfully.

While National Regifting Day is lighthearted, it reminds us of the value of intentional giving and the importance of considering not only what we give but how it will be received.

In estate planning, some “gifts” can be regifted, revised, or exchanged over time, while others, once given, are final. The key is knowing the difference and ensuring that you have left a kind of “receipt in the bag” in case an exchange becomes necessary and the “return window” is still open.

Regiftable Assets: What You Can Update While You Are Alive

Some parts of an estate plan are flexible while you are alive and have capacity (i.e., are of sound mind and can manage your own affairs). Think of these as the “regiftable” parts: the ones that can be exchanged or updated as life changes. With estate planning, it is not about passing along an unwanted gift, but rather thoughtfully repurposing your original intentions—redirecting how future distributions to loved ones will be shared while keeping the same spirit of generosity at the heart of it all.

• Will. You can change, add, or remove beneficiaries; update how your beneficiaries are to receive their gifts; and nominate or change guardians of minor children.
• Beneficiary designations. The beneficiaries that you designate on life insurance policies, retirement accounts, and payable-on-death accounts can be updated at any time. These designations should be made thoughtfully and coordinated with your overall estate plan.
• Revocable trusts. You can adjust the trust terms, trustees, beneficiaries, and distribution plans while you are alive and have the capacity to do so. Properties in multiple states or foreign accounts may require additional legal steps.
• Powers of attorney and healthcare directives. These documents can be changed or revoked as long as you retain capacity.
• Lifetime gifts and charitable plans. Gifts made outright are usually permanent, while gifts made through revocable trusts or donor-advised funds can typically be changed. Gifts through irrevocable trusts or foundations are generally permanent once established.

Returns and Exchanges: Harder to Make Changes While You Are Alive

Other estate planning choices come with a shorter “return window.” While not completely irreversible, they are much harder to change without court or administrative involvement.

• Irrevocable trusts. These trusts generally cannot be altered once signed, though some states allow limited updates under specific conditions.
• Revocable living trusts during incapacity or after death. Once the trustmaker becomes incapacitated or dies, the trust’s terms typically become fixed. Some flexibility may still exist depending on state law or trustee discretion.

No Returns Available: When Gifts Are Final

There are some parts of an estate plan that become final once they are carried out, and only in rare situations—such as fraud, coercion, or clear mistake—can those actions be undone.

• Final distributions. Once gifts or inheritances have been distributed, they generally cannot be taken back.
• Delivered lifetime gifts and finalized deeds. Transfers of property or gifts made during your lifetime are permanent.

Leaving a Receipt in the Bag: Guidance for Beneficiaries

A comprehensive estate plan is more than just a set of documents; it is a roadmap for your loved ones. It allows you to include clear instructions and personal touches that make it easier for them to carry out your wishes.

• Personal letters or notes. While not legally binding, they can provide helpful context for sentimental or complex gifts.
• Trustee and executor guidance. Provide clear instructions for managing property, especially across jurisdictions or for beneficiaries with special needs.
• Advisory roles. Appoint trusted helpers to support trustees during unexpected situations.
• Backup plans. Name alternate beneficiaries in case a primary beneficiary cannot accept a gift.
• Organized records. Keep accounts, passwords, and documents well organized.

Know the Rules: Avoid Estate Plan Faux Pas

Even regifting has its etiquette—and so does estate planning.

You can avoid estate plan faux pas by following a few simple rules:

• Choose wisely. Match gifts to beneficiaries’ needs and circumstances.
• Be discreet. Keep updates private and well documented.
• Avoid regifting to the original giver. Anticipate conflicts and plan contingencies.
• Celebrate the intent. Focus on the purpose behind each bequest.
• Include a receipt. Leave clear instructions and organized records.
• Check the return date. Review your plan regularly to ensure it still aligns with your life and the law.

A Gift You Can Give Yourself and Your Loved Ones

Most of us know that not every gift can be swapped. Thoughtful gifting matters, and some things, once given, are final.

One of the most meaningful gifts you can give yourself is an estate plan—and the peace of mind that comes with it. Unlike casual regifting, estate planning follows formal rules that deserve careful attention.

Schedule a time to “unwrap” your plans with us before year-end to ensure that your gifts, regifts, returns, and receipts reflect both your giving spirit and the law.

¹ National Re-Gifting Day, Days of the Year (Nov. 6, 2025), https://www.daysoftheyear.com/days/re-gifting-day.