Estate planning is one of the most compassionate acts you can perform for your loved ones, securing your legacy and ensuring your wishes are honored. However, a plan with loopholes or simple oversights can have the opposite effect, leading to costly litigation and irreparable family rifts. At Heritage Estate Planning and Law, we founded our firm on the principle of preventing family conflict. As your Tulsa estate planning attorney, we leverage our experience and litigation insights to help you avoid these common, yet devastating, mistakes.
4 Estate Planning Mistakes That Can Tear Families Apart
Failing to Plan: Dying Intestate
The single greatest mistake is failing to create a comprehensive plan altogether. When you pass away without a valid Will or Trust, you are considered to have died "intestate." In this scenario, the government of Oklahoma decides who receives your assets, often overlooking your true intentions and family dynamics. Without a foundational plan that includes your living will and testament and trust documents, your family is forced into a lengthy, expensive, and stressful probate process.
Choosing the Wrong Fiduciary
A fiduciary is the person you appoint to carry out your wishes—such as the Executor of your Will, the Trustee of your Trust, or the agent in your Power of Attorney. Choosing this person based solely on age or tradition, rather than capacity and character, is a common error. Your fiduciary must be trustworthy, organized, and capable of handling complex financial and emotional duties. Your estate planning lawyer will emphasize that an ill-equipped or unreliable choice can lead to mismanagement, delays, and a sense of betrayal among heirs.
Ignoring Annual Reviews and Updates
Your estate planning documents are not a "set it and forget it" solution. Life events like marriage, divorce, births, deaths, or major changes in assets require an update to your documents. Crucially, beneficiary designations on assets like retirement accounts and life insurance policies always override your Will or Trust. Failing to update these documents after a life change means your assets could pass to an ex-spouse or a long-deceased relative, directly contradicting your current wishes and sparking conflict. A complete estate planning review should be a regular occurrence.
The Fairness vs. Equality Trap
Many people assume a plan must divide all assets equally among their children. However, a focus on strict equality can ignore unequal needs, prior financial help, or the unique relationship you had with each heir, leading to resentment. The goal is to distribute assets fairly while communicating the "why" behind your decisions. When your plan's intent is unclear, disappointed heirs are more likely to sue or challenge the distribution. This is a pitfall a seasoned estate attorney helps clients navigate.
Protect Your Family’s Future
Don't let these preventable mistakes compromise your family’s peace of mind. Lauren Chapman Fabela and the team at Heritage Estate Planning and Law are dedicated to providing the clear, compassionate guidance necessary to secure your legacy. We serve clients across Tulsa and all of Oklahoma, tailoring a plan that protects what matters most. Take the first step toward a secure future today and schedule your free, no-obligation consultation with an experienced estate planning attorney.