{"id":7448,"date":"2026-05-11T09:19:13","date_gmt":"2026-05-11T13:19:13","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=7448"},"modified":"2026-05-11T09:19:14","modified_gmt":"2026-05-11T13:19:14","slug":"three-estate-planning-moves-smart-seniors-avoid","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/three-estate-planning-moves-smart-seniors-avoid\/","title":{"rendered":"Three Estate Planning Moves Smart Seniors Avoid"},"content":{"rendered":"\n
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You already know that naming your children on your deed is probably not good tax planning<\/a> for the next generation. But what other, less obvious deed mistakes do smart seniors avoid? Here are three to consider.<\/p>\n\n\n\n\n\n\n\n

1.   Signing the Documents and Considering Them Done<\/h2>\n\n\n\n

Take your estate planning seriously by considering it a work in progress, subject to revision. Because life happens. Laws change. Your health changes. Your loved ones have life changes too. What might have helped your heirs most five years ago might not be best now.<\/p>\n\n\n\n

And sometimes, a financial institution won\u2019t accept an outdated document.<\/p>\n\n\n\n

If you move to another state, or your personal representative faces a serious illness or other setback, you might need to name someone else to act for you. Do name a backup person who can serve in case your original choice cannot.<\/p>\n\n\n\n

If you and your life partner separate, out-of-date paperwork can turn into legal problems after you\u2019re gone.<\/p>\n\n\n\n

So, every few years, preferably never more than five, check your estate planning documents and update them as needed. Go through your financial accounts and be sure your beneficiary designations align with what you state in your will. If you get (re)married, update your will. Both partners need their own wills, and the wills can match \u201cmirror\u201d each other\u2019s.<\/p>\n\n\n\n

2.   Appointing a Procrastinator (or Someone Whose Life Is Just Too Busy to Wrap Up Your Affairs)<\/h2>\n\n\n\n

When you select a personal representative, you convey the idea that the person you pick is loved, trusted, or both. Or maybe you pick someone because they seem right from a traditional standpoint.<\/p>\n\n\n\n

But you\u2019re putting your assets in the best position by selecting someone who can competently follow your instructions and wisely manage your property. Use special care when choosing a successor trustee if you create a trust to hold a home for your beneficiaries. Holding onto an empty home can become an invitation to fraudsters.<\/p>\n\n\n\n

When choosing personal representatives to wrap up your affairs, ask:<\/p>\n\n\n\n