Creating a will can help protect your loved ones and ensure your final wishes are carried out. However, people often make the same preventable mistakes when creating a will that cause unnecessary confusion and family conflict down the road. Whether you’re creating your very first will or updating an existing will, here are five mistakes to avoid.
1. Waiting Too Long To Create a Will
Failing to create a will is one of the most common estate planning mistakes. Some people put it off because they think they’re too young, don’t have any assets, or simply don’t want to think about it. But accidents and unexpected deaths can happen at any age—even to people who are considered healthy. If you pass away without a will, then your assets will be distributed according to state law. Not only does this outcome leave you without a say in how your estate is handled, but it may also result in your loved ones not receiving their intended inheritance.
Bottom Line: By creating a will early on and updating it as your life changes, you can help protect your loved ones and ensure your wishes are carried out.
Why It Matters:
- Protects your loved ones
- Gives you control over asset distribution
- Reduces uncertainty and legal complications
2. Failing to Update Your Will
Just as important as creating a will is making sure you update it over time. Chances are your life looks very different now than it did 5, 10, or 20 years ago. And odds are, so does your will. Once you’ve created a will, make sure to revisit it anytime there’s a major life change.
Life events that may warrant an update to your will include:
- Marriage or divorce
- Having or adopting children
- Death of a beneficiary
- Major changes in assets
- Starting a business or selling an established business
- Moving to another state
Bottom Line: An outdated will can leave your family members confused and struggling to interpret your intentions. This can lead to the wrong beneficiaries, important family members being left out, and even fighting amongst loved ones.
Why It Matters:
An outdated will can lead to unintended beneficiaries, omitted family members, and disputes among heirs.
3. Choosing the Wrong Executor
The executor you choose will be in charge of carrying out your wishes as laid out in your will. If you choose someone incapable of managing your estate and following through with your instructions, it could create unnecessary problems for your loved ones.
Factors to consider when choosing an executor include:
- Trustworthiness
- Organizational skills
- Financial responsibility
- Ability to work with your family members
- Willingness to serve
Spouses, adult children, and trusted friends are common choices when picking an estate executor. If you don’t have anyone you’d like to choose, consider hiring a professional fiduciary to serve in this role. Bottom Line: Choosing the right executor can help ensure your estate is administered according to your wishes with minimal stress for your loved ones.
Why It Matters:
A capable executor can help ensure your estate is administered efficiently and with minimal conflict.
4. Being Too Vague
Unclear instructions in a will can cause a lot of headaches for your family. For example, saying “I want all of my belongings to be split evenly among my children” leaves open to interpretation. What happens if you have more children later on? Or what if one of your children predeceases you? Instead, be specific about who gets what and how your property should be distributed.
Examples of vague instructions include:
- “Divide my belongings fairly.”
- “Give some money to my grandchildren.”
- “Leave my personal items to family.”
Instead, specify:
- Exact beneficiaries
- Asset allocations
- Alternate beneficiaries
- Guardians for minor children
The more precise your instructions, the less room there is for misinterpretation.
Why It Matters:
Clear language helps prevent family disputes and ensures your wishes are carried out accurately.
5. Attempting a DIY Will Without Legal Guidance
Online templates and do-it-yourself estate planning tools can seem convenient, but they often fail to address unique family situations, state-specific laws, and complex assets.
Potential risks of DIY wills include:
- Improper execution
- Missing legal requirements
- Unclear language
- Invalid provisions
- Failure to account for tax considerations
Working with an experienced estate planning attorney can help ensure your will complies with applicable laws and fully protects your interests.
Why It Matters:
A legally sound will can save your family significant time, expense, and stress in the future.
Protect Your Legacy with Proper Estate Planning
Drafting a will is about more than distributing assets—it’s about protecting your family, preserving your wishes, and providing clarity during a difficult time. By avoiding these common mistakes, you can create an estate plan that offers peace of mind and helps your loved ones navigate the future with confidence.
If you haven’t created a will or it’s been several years since your last review, now may be the perfect time to revisit your estate plan and ensure your wishes are properly documented. The estate planning lawyers at Larsen, Larsen, Nash & Larsen take a holistic approach to help you prepare for your future and the future of your loved ones. We offer free consultations to individuals throughout northern Utah. Call (801) 964-1200 today!
