Before traveling, many people begin to consider the "what ifs" - including the possibility of incapacity or death. This often leads to last-minute efforts to update estate plans. While it may be tempting to "mark up" a will or trust or write informal letters to your Executor, Trustee or loved ones, these approaches can create unintended legal issues.
Below are common mistakes we frequently see and the recommendations we make instead:
| Poor document storage | Storing original estate planning documents in unsecured locations (such as a cardboard box or filing cabinet) increases the risk of loss or damage. While safe deposit boxes provide security, they can create access issues for an Executor, often requiring a court order if the Executor is not already authorized. | Recommendation: Store original documents in a fireproof safe and ensure your Executor or Trustee can access it. Provide fiduciaries with copies of executed documents. [For more information on where not to store estate planning documents, visit our blog post here.] |
| Marking up original documents | Handwritten changes or annotations to wills or trusts can invalidate the documents or create ambiguity. | Recommendation: Work with an attorney to make formal revisions and follow all required execution formalities under state law. |
| Letters with specific instructions | Informal letters can provide helpful guidance, but they are generally not legally binding. Important directives—such as who should receive specific assets—may not be enforceable if they are only included in a letter. | Recommendation: Include all specific gifts and terms directly in your will or trust to ensure clarity and enforceability. |
| Inaccessible digital accounts | Many clients lack a secure and organized system for storing login credentials for digital assets and accounts. | Recommendation: Use a reputable password manager and ensure your fiduciaries understand how to access emergency features if needed. |
To reduce last-minute stress and avoid rushed decisions or ineffective changes, consider the following best practices:
- Review your estate plan well in advance of travel (months not weeks!) and contact your attorney if updates are needed.
- Ensure your Executor, Trustee, and key family members know how to access documents and important information.
- Confirm beneficiary designations on life insurance, retirement accounts, and payable-on-death or transfer-on-death accounts.
- Review your estate plan with your attorney and advisors every 2-3 years or after major life changes. [To learn more about this recommendation, visit our blog post here.]
Our attorneys regularly help clients align their estate plans with their current goals and circumstances. Contact our office to schedule a review or discuss updates to your estate plan. Happy travels!
