Estate planning is one of the most important steps you can take to protect your loved ones and your legacy—but it’s also an area where simple mistakes can have serious consequences. Many Cincinnati residents delay planning or make avoidable errors that can leave their families dealing with confusion, legal battles, or unnecessary taxes. By understanding the most common estate planning mistakes, you can take steps to avoid them and ensure your wishes are carried out as intended.
Not Having An Estate Plan!
One of the most frequent mistakes is failing to create an estate plan at all. Many people assume they’re too young, don’t have enough assets, or can “get to it later.” Unfortunately, life is unpredictable, and without a will or trust in place, your estate will be handled according to Ohio’s default laws—not your personal wishes. Creating even a basic plan can make a world of difference for your family during a difficult time.
Not Updating Your Estate Plan After Major Life Events
Another common error is not updating your estate plan after major life changes. Marriage, divorce, the birth of a child, or the death of a loved one can all affect your estate plan. Failing to review and revise your documents can result in outdated beneficiary designations, the wrong people in decision-making roles, or missing provisions for new family members. Regular reviews with a local estate planning attorney ensure your plan stays accurate and effective.
Correctly Funding a Trust
Many Cincinnati residents also overlook the importance of properly funding their trusts or coordinating beneficiary designations. Creating a trust is a great step, but it must be legally funded—meaning assets like real estate, bank accounts, and investment accounts must be titled in the name of the trust. Similarly, designations on retirement accounts or life insurance policies must align with the rest of your plan to avoid conflicts and unintended distributions.
Estate Planning Mistakes - Summary
Avoiding these common estate planning mistakes starts with awareness and the right guidance. By taking the time to plan thoughtfully and review your documents regularly, you can spare your family from stress and uncertainty. Working with a trusted estate planning attorney helps ensure that every detail is handled properly, giving you peace of mind for the future.
At Krugler Law, we help Cincinnati residents avoid costly estate planning mistakes and create clear, effective plans tailored to their needs. If you're unsure whether your current plan is up to date—or if you don’t have one at all—a simple visit can bring clarity and direction. Contact us today to schedule your consultation and take the next step in protecting your legacy. Call 513-916-1600 or complete the form on our home page to set up your free initial consultation.