After more than two decades in this field, I’ve seen one estate planning mistake far more than any other: people don’t finish—or they forget to update their plan. And it usually comes back to haunt the family left behind. Let’s fix that.
Estate planning isn’t always about complicated tax shelters or million-dollar trusts. Often, it’s about the basics—and making sure you don’t overlook the small stuff that can cause big headaches down the line.
So, what’s the most common estate planning mistake I see?
Not finishing—or not updating—a plan.
That’s it. The biggest issue isn’t people making the wrong plan. It’s people making no plan… or assuming they’ve done enough, when they haven’t.
Let’s break that down, and more importantly, talk about how to avoid falling into the same trap.
The “I Meant to Get Around to It” Problem
Estate planning is one of those things that always seems important… but never feels urgent. Until it is.
We all get it. Life gets busy. You might even start drafting a will online or have a conversation with your spouse about what you would want. But unless your wishes are made legal through properly drafted documents, your loved ones could be left with stress, court delays, and uncertainty.
And here’s the kicker: incomplete plans can be just as damaging as having no plan at all.
Why Incomplete or Outdated Plans Cause Problems?
A few real-world examples of common planning missteps:
- You have a will, but never named a guardian for your kids.
Now the court decides who raises them—and it might not be who you would have chosen.
- You created a power of attorney 10 years ago, and your agent is now deceased.
That document is useless, and your family might have to go to court to get decision-making authority.
- You named your ex-spouse as the beneficiary on your life insurance policy… and never updated it.
They might, under certain circumstances, still legally receive the money.
- You set up a trust, but never transferred your assets into it.
That trust may not actually control anything.
How to Avoid the #1 Estate Planning Mistake?
Let’s turn this around. Here’s how to create a complete and up-to-date estate plan that works when it’s needed:
1. Create a Full Set of Core Documents
Most people need these basics:
- Will: Outlines who gets what, and who handles your affairs (executor). Also names guardians for minor children.
- Durable Power of Attorney: Gives someone the authority to handle financial matters if you’re incapacitated.
- Health Care Surrogate: Names a trusted person to make medical decisions on your behalf.
- Living Will: States your preferences for end-of-life care.
- Revocable Living Trust (optional, but powerful): Helps avoid probate and allows you to manage assets privately and efficiently.
We’ll walk you through which documents make sense for your situation and ensure they meet Florida’s legal requirements.
2. Keep Your Beneficiaries Up to Date
Retirement accounts, life insurance, and payable-on-death accounts don’t go through your will—they go directly to the person listed as the beneficiary.
Make sure your beneficiary designations are:
- Up to date
- Consistent with your estate plan
- Clear about who gets what (especially if you’ve remarried or had children)
A mismatched beneficiary form can override your will—so it’s worth reviewing.
3. Fund Your Trust (If You Have One)
One of the most common and costly mistakes people make with trusts? They forget to transfer their assets into it during their lifetime or fail to provide a mechanism for the assets to get into the trust without a costly probate process.
Setting up a trust isn’t enough—you need to fund it. That means:
- Retitling real estate into the trust
- Moving bank or brokerage accounts
- Updating beneficiary designations where appropriate
If your trust is empty, it doesn’t control anything—and your family may end up in probate court anyway.
4. Revisit Your Plan Every 3–5 Years
Life changes, and your plan should too. Major life events that call for an update include:
- Marriage or divorce
- Birth or adoption of a child
- Death of a loved one
- Changes in your financial situation
- Buying or selling real estate
- Moving to a new state (hello, Florida!)
Even without big changes, a periodic review ensures everything still reflects your wishes and complies with current law.
5. Talk to Your People
Once your plan is done, tell your key people where to find it. Maybe even discuss it with your beneficiaries, depending on the situation.
You don’t need to share every detail, but your executor, trustee, or health care surrogate should:
- Know they’ve been named
- Understand their role
- Know where to access your documents in an emergency
This makes it far more likely that your plan will be carried out smoothly and according to your wishes.
The Cost of Procrastination
When someone dies without a valid or complete estate plan in place, Florida law takes over. That means:
- The court decides who gets what (which may not match what you would have chosen)
- Your family may need to go through probate—publicly and at a cost
- Guardianship of minor children or dependent adults may be determined by a judge
- Healthcare decisions during incapacity could be left to distant relatives or result in family disputes
A little planning now prevents a lot of stress later.
The Staab Law Difference
At Staab Law, we don’t believe estate planning has to be grim, complex, or overwhelming. We walk you through each step, clearly explain your options, and create a plan that actually works.
Whether you’re starting from scratch or updating a decades-old will, we’ll make sure your plan is complete, current, and custom to your life.
Final Thoughts: Small Steps Now Save Big Headaches Later
The most common estate planning mistake is also the easiest one to fix: Don’t put it off.
Start your plan. Finish your plan. Keep it updated. And talk to someone who does this every day (that’s us). The peace of mind is worth it—for you and for the people who love you.
You don’t need a perfect plan—you just need one that’s complete, up to date, and reflects your real wishes. The good news? It’s not as hard as you think. Let’s get it done now so your loved ones aren’t left sorting things out later.