Five Spooky Estate Planning Mistakes

Estate planning shouldn't be your biggest fear this Hallow's Eve…

At The Toups Law Firm, we love a good scary story—but not when it’s Nightmare on Estate Planning Street. This Halloween season let’s shed some (candle) light on the five spookiest estate planning mistakes that people make.

Spooky Mistake #1: Only Having a Will

Sure, a will is important—but it’s not enough. A will only applies after you’ve passed on. What about while you're still living but unable to make your own decisions? Who makes medical decisions? Who handles your finances? If you don’t have a statutory durable power of attorney, a medical power of attorney, and a plan to avoid probate, your family could be headed for a real fright.

Spooky Mistake #2: Getting Your Will Done Online

Online legal forms may seem convenient, but the truth is… they’re the Frankenstein’s monster of estate planning—stitched together, lifeless, and often misunderstood. We’ve seen plenty of folks come in with wills that were “DIY-ed” online but didn’t meet Texas legal requirements, were improperly witnessed, or flat-out contradicted what the person intended. And yes—some were even written on the back of a napkin. Estate planning is too important to leave to Google.

Spooky Mistake #3: Forgetting to Update Your Beneficiaries

Beneficiary designations override your will—so if your ex-spouse is still listed on your life insurance, they will be the one "reaping" the benefits. Forgetting to update your beneficiaries is one of the most ghoulishly common mistakes we see. It happens with retirement accounts, bank accounts, insurance, and even transfer-on-death deeds. Don’t let old paperwork cast a long shadow on your current wishes.

Spooky Mistake #4: Failing to Tell the Right People the Right Information

If no one knows where your documents are—or who your executor or agent is—then all your planning might as well have been thrown in a Witch's Brew. We always recommend that clients tell their agents where documents are stored, who to call, and what their general wishes are. A medical power of attorney isn’t helpful if it’s locked in a file cabinet that no one can find until Thanksgiving. And no—you don’t have to be that house to hand out "full-sized" copies of your trust or will, but at least make sure your most trusted creatures are in the loop!

Spooky Mistake #5: Not Updating Your Documents

Life changes. So should your estate plan. If you’ve welcomed a newborn child or grandchild into the family, experienced a divorce, the passing of one of your loved ones, a move to another state to check out their local haunts, or even just a shift in your values or finances, it’s time to dust off the cobwebs and update your plan. Documents that are 10, 15, or 20 years old may no longer reflect your wishes—or comply with current laws. (Think: if a Halloween Costume from the year your plan was created was worn today, would anyone be able to recognize what it was?)

Estate planning doesn’t have to be scary—but doing nothing, or doing it wrong, can be terrifying for your Trick-or-Treating crew that were left behind to collect candy on their own. Whether you're ready to start fresh or just want to check your plan for skeletons in the closet, we're here to help.