How to Accidentally Disinherit Your Children (And Other Estate Planning “Oops” Moments)

Mar 5

Estate planning mistakes are often unintentional, but they can produce significant consequences.

Here are several common errors that frequently appear in estate administration.

Forgetting to Update Beneficiary Designations

Retirement accounts and life insurance policies pass according to beneficiary forms, not wills.

Outdated forms can result in assets going to former spouses or unintended recipients.

Not Funding a Trust

Creating a trust without transferring assets into it defeats the purpose.

Proper funding is essential for the trust to function as intended.

Failing to Update After Major Life Events

Marriage, divorce, births, and deaths should all trigger a review of an estate plan.

Leaving Assets Directly to a Special Needs Beneficiary

Doing so may jeopardize eligibility for important public benefits. Special Needs Trusts are often used to avoid this problem.

Choosing the Wrong Executor

Selecting someone unwilling or unable to manage administrative responsibilities can create unnecessary delays.

Final Thoughts

Estate planning errors are common, but they are also preventable. Periodic reviews help ensure that your plan continues to reflect your intentions.

Mary Beth Handte

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