Common Estate Planning Mistakes
Published 18/3/2026
Estate planning can be a complicated thing for anyone especially if you plan on doing it alone, opting to use a professional company can make things a whole lot easier.
Moving forward should you start estate planning alone there are a few things to keep in mind to ensure things run smoothly. Should you not have the right plans in place this could cause unexpected, unwanted issues not only for yourself but loved ones also should you no longer be around.
In this short blog, Hogarth Wealth Management will outline some of the key estate planning mistakes people often make.
Top 5 Estate Planning Mistakes Individuals Make
1. Not Having An Estate Plan - If you think a will secures everything when you pass away then you're very mistaken, in some cases a will may be enough, a lot of people fall at the first hurdle by not having an estate plan in place. If you own multiple assets such as property, business and vehicles it’s crucial to have an estate plan in place. You must make sure your personal and financial assets are in order and that they will be handled in the correct manner should you become deceased or incapacitated.
2. Wills Not Up To Date - If you own a number of assets and your finances are in somewhat of an order then the likelihood is you have a will set out, that’s why it’s important to make sure it’s up to date on a regular basis. Life changes, people change and we change, so update your will regularly and make sure any changes are made and put into effect. If something was to happen and you fail to update your will this could have a devastating effect on family, friends and any beneficiaries.
3. Executor and Beneficiaries - You may think that naming one executor and beneficiary is enough because it’s the easiest thing, unfortunately this isn’t true you must always name at least two. Simply to ensure your wishes are carried out correctly and follow any wishes connected to your personal and financial affairs correctly.
4. Incapacitation - While incapacitation seems like a horrible word to use, it's important that we discuss it as estate plans shouldn’t just be put in place for when a person passes. Debilitating illnesses can take a hold of anyone at any time so it’s important not to become misconstrued, if you don’t have an estate plan in place guardianship proceedings will be needed. Putting your estate plan into place and appointing a power of attorney ensures there is someone to act on your behalf should you become incapable.
5. Not Using An Estate Planner - If you want to save a lot of stress and headache then you should definitely think about using an experienced estate planner. You may be confident that you can handle things on your own but estate planners help ensure and provide services that can support the plan you have put into place to cover everything needed. You may think that because you have used an estate planner handing over all control this isn’t the case at all; it's about support and guidance when making those difficult decisions.
Will writing and Powers of Attorney involve the referral to a service that is separate and distinct to those offered by St. James's Place and are not regulated by the Financial Conduct Authority.
SJP Approved 18/3/2026