Estate Planning Mistakes: 7 Misconceptions About Estate Planning

Estate planning isn’t just for the wealthy, and it’s not just about writing a will. It’s about making thoughtful decisions today that can help your family tomorrow. But despite its importance, many people fall into common traps. These estate planning mistakes often come from misunderstandings, outdated information, or simply putting things off.

Here are 7 common misconceptions about estate planning, and the truth behind them:

1. “I’m Too Young to Worry About Estate Planning”

Tragedy doesn’t wait for retirement. Regardless of your age, if you have assets, children, or healthcare wishes, having a plan is essential. Starting early helps you adapt your plan as life changes.

2. “A Will Is All I Need”

While a will is a core part of your estate plan, it’s not the only piece. You may also need a Durable Power of Attorney, a healthcare surrogate designation, and possibly a trust, especially if you want to avoid probate or plan for incapacity.

3. “Everything Will Automatically Go to My Spouse or Kids”

Without a will or estate plan, Florida’s intestacy laws decide who inherits your estate. This can lead to unintended outcomes, delays, or even disputes among family members.

4. “Once It’s Done, I’m Set for Life”

Life changes include marriages, divorces, children, and new assets. An estate plan should be reviewed regularly to ensure it still reflects your current wishes and circumstances.

5. “DIY Online Forms Are Good Enough”

Many estate planning mistakes come from using generic templates that don’t meet Florida’s legal requirements. A small oversight, like missing signatures or unclear wording, can result in a will being invalid or contested.

6. “Trusts Are Only for the Wealthy”

Trusts can help families of all income levels avoid probate, maintain privacy, and ensure smoother asset distribution. They’re especially helpful for blended families, special needs planning, or managing property across state lines.

7. “I Don’t Need to Talk About End-of-Life Wishes”

Failing to outline your healthcare preferences and assign decision-makers can leave loved ones making tough choices without guidance, often during emotional times.

Avoiding these estate planning mistakes means being proactive, informed, and thoughtful about your future. With over 34 years of experience in estate, tax, and elder law, the attorneys at Jacobs & Jacobs, P.A., understand the unique challenges Florida families face. Whether you’re starting from scratch or need to update an existing plan, we’re here to guide you with clarity and care.

Contact us today to schedule a consultation and let us help you create an estate plan that truly protects what matters most.