VBA check if object is set

If obj Is Nothing Then
    ' need to initialize obj: '
    Set obj = ...
Else
    ' obj already set / initialized. '
End If

Or, if you prefer it the other way around:

If Not obj Is Nothing Then
    ' obj already set / initialized. '
Else
    ' need to initialize obj: '
    Set obj = ...
End If

The (un)safe way to do this - if you are ok with not using option explicit - is...

Not TypeName(myObj) = "Empty"

This also handles the case if the object has not been declared. This is useful if you want to just comment out a declaration to switch off some behaviour...

Dim myObj as Object
Not TypeName(myObj) = "Empty"  '/ true, the object exists - TypeName is Object

'Dim myObj as Object
Not TypeName(myObj) = "Empty"  '/ false, the object has not been declared

This works because VBA will auto-instantiate an undeclared variable as an Empty Variant type. It eliminates the need for an auxiliary Boolean to manage the behaviour.