First off, I’m a financial planner, not an attorney.
I don’t draft estate documents, interpret legal language, or give legal advice.
However, because I work closely with clients’ finances (and often alongside estate attorneys) I see how estate plans function in real life fairly often. It’s also a part of my key training as a Certified Financial Planner™.
Over the years, I’ve noticed a pattern: many people believe they have their estate planning “handled,” but aren’t entirely clear on how it actually works. And I don’t blame them…estate planning can be complex, emotional, and easy to put on the back burner once documents are signed. It’s easy to just say, “Done!” and then not really think through it further.
Below are some of the most common gaps I see, reframed as simple areas to review in 2026.
Know What Documents You Actually Have
Many people confidently say they have “everything done,” but can’t clearly identify whether that includes a will, trust, financial power of attorney, or healthcare directives.
Often, they were completed years ago and haven’t been revisited since. Unfortunately, some institutions may be reluctant to honor older power of attorney documents. That’s why reviewing and revising them is important. A good starting point this year: list the documents you have, when they were signed, and where they’re stored.
Understand How Your Assets Are Titled
How an account is titled often matters more than what a will says. Individual ownership, joint ownership, transfer-on-death designations, and trust ownership can all lead to very different outcomes. This is one of the most common sources of surprise when we walk through accounts together.
Review how each major account is owned, and make sure that ownership aligns with your intentions.
Confirm Your Beneficiaries Match Your Wishes
Many financial assets pass by beneficiary designation or ownership structure, not by the will. Retirement accounts, life insurance, and many brokerage accounts follow beneficiary forms which will almost always override what the will says entirely if they aren’t aligned. In other words, if you write a will stating your best friend gets your assets but your ex-husband is still the beneficiary of your IRA… you have a problem.
Thankfully it is not too hard to check your beneficiaries. Most of your financial accounts likely have an online platform you can access and check. If you can’t find it that way, simply call the institutions. They may have a form you can sign to update them.
Make it a goal this year to verify every beneficiary designation.
Revisit Your Plan After Major Life Changes
Life changes quickly. Divorce, remarriage, births, deaths, moves to a new state, or significant changes in wealth don’t always trigger updates to estate documents but they probably should. If you had a major change in your life, call your attorney and ask if they think it warrants an update.
A helpful resolution: tie estate plan reviews to life changes, not just time passing.
Plan for Incapacity, Not Just Death
Some people think about who inherits their assets, but few give much thought to who will act if they are incapacitated. That gap can create unnecessary stress during difficult times. Most often when clients pass away, it is not sudden. There is a period of decline where family members simply must step in.
Unfortunately, if there isn’t a signed Power of Attorney document, there is only so much we can do to help.
In 2026, ask yourself: If I couldn’t make decisions tomorrow, who would step in and could they actually act to my wishes?
Don’t Assume Your Family Will “Figure It Out”
Even the well-organized estate plans can feel overwhelming to surviving spouses or adult children if expectations, locations of documents, or next steps aren’t clearly communicated ahead of time.
I have so many clients COMPLETELY underwater and overwhelmed with stress dealing with the unorganized estates of their loved ones. Please don’t burden the people you love with that.
A meaningful resolution: make these decisions easier for the people you love by communicating early and often.
Acknowledge the Emotional Side of “Simple” Estate Planning
Even when an estate plan is straightforward and “simple”, emotions can complicate things quickly.
Clear organization and communication often matter just as much as legal structure. I know this is easier said than done. You don’t want to have that talk with your family, and your family doesn’t want to have it either. Estate planning conversations can be uncomfortable, and you also have to decide whether it’s in your family’s best interest to discuss specific numbers.
At the very least, make sure your key players understand their role and your hopes for your legacy.
~~~
It isn’t enough to have a great financial planner. You need an attorney you trust too. My goal is to help ensure the financial side of a client’s life aligns with their intentions and that nothing important is unintentionally left to chance.
Estate planning isn’t a one-time task. It’s an ongoing process that works best when legal documents, financial accounts, and real-life circumstances stay in sync. So, as the year comes to an end, consider setting aside time in the new year to dive in, get organized, and have peace in the year ahead.
