Estate Planning Mistakes You Can’t Afford to Make

Estate planning isn’t just for the ultra-wealthy or the elderly. It’s for anyone who wants to protect their loved ones, avoid costly legal processes, and ensure their wishes are honored. Yet, too many families are left unprepared at the worst possible time due to common, avoidable mistakes.

1. Procrastinating Your Estate Plan

Too many people wait until it’s too late. A sudden illness or accident can leave families scrambling to make decisions, and state law may determine who gets what.

Tip: Start with a basic plan now. Update it over time as your life changes. For example, you might have children or grandchildren, or acquire new assets that need to be included.

2. Trying to DIY an Estate Plan

Free templates and online forms are tempting, but one wrong word or missing signature can make your plan invalid.

Tip: Work with an experienced estate planning attorney to ensure your documents hold up in court and reflect your intentions.

3. Keeping Loved Ones in the Dark

If no one knows your plan and where to locate the documents, it can lead to confusion, conflict, or worse, legal battles.

Tip: Talk with your executor, trustee, and close family. Let them know where the documents are and why you made your choices. Give trusted individuals access or store documents in a secure digital vault with shared permissions.

4. Not Having All the Right Documents

A complete estate plan includes more than just a will. You may need:

• Last Will and Testament
• Durable Financial Power of Attorney
• Health Care Power of Attorney & Advance Directive
• Revocable Living Trust (if applicable)
• Updated Beneficiary Designations
• Digital Asset Instructions
• Final Wishes / Funeral Instructions

Tip: Bundle these documents in a single estate planning binder, stored in a fireproof box or a secure digital file. Ensure your loved ones know where to find them.

5. Ignoring Digital Assets

Your email, social media, cloud files, and cryptocurrency may be locked forever without a digital executor or clear instructions.

Tip: Keep a secure list of digital accounts and passwords, and designate a “digital fiduciary” in your plan.

6. Overlooking Final Arrangements

Funeral costs average $8,300+ per NFDA, and many families are caught off guard.

Tip: Specify your preferences (burial, cremation, ceremony type) and consider prepaying or setting aside funds.

7. Forgetting about Taxes

While the federal exemption in 2025 is nearly $14 million, this may change. Plus, several states still impose their own estate or inheritance taxes.

Tip: Regularly review tax law changes and how they affect your plan. Work with both your attorney and tax advisor.

8. Failing to Update Your Plan

Life changes quickly: births, divorces, remarriages, new properties, relocation, new pets, and so on. Outdated plans can result in the wrong people inheriting or court-ordered decisions about custody.

Tip: Revisit your estate plan every 3–5 years or after any major life event.

9. Choosing the Wrong Executor or Trustee

Your best friend may not be the best choice. You need someone responsible, organized, and impartial.

Tip: Choose wisely — and name alternates in case your primary choice can’t serve.

10. Ignoring Legislative Changes

The 2017 Tax Cuts and Jobs Act, as well as more recent updates in the OBBA (One Big Beautiful Bill Act), have changed exemption amounts and rules. More changes are expected in 2026.

Tip: Use an estate attorney who stays up to date on state and federal law, especially one in your jurisdiction.

11. Not Understanding What Happens If You Don’t Have an Estate Plan (in Ohio)

If you die without a will or estate plan in Ohio, your assets will go through probate, and Ohio’s intestate succession laws will determine who inherits.

Consequences include:

• Probate is required (even for small estates)

• State law decides how assets are divided

• Guardians for minor children may be court-appointed

• Certain assets may face tax consequences or delays

Tip: A well-crafted estate plan ensures your wishes are honored and helps your family avoid delays, costs, and uncertainty.

How MacLaren Law Can Help

At MacLaren Law, we know estate planning isn’t just about money; it’s about protecting what matters most. Your family, your values, and the life you’ve built.

Our services include:

• Custom wills and trusts
• Durable powers of attorney and advance directives
• Digital estate planning
• Probate avoidance strategies
• A trusted relationship
• Probate
• Estate Administration
• Business Planning

Whether you're starting fresh or revisiting your current plan, we're here to guide you every step of the way. Plan for Tomorrow, Enjoy Peace of Mind Today.