On September 24, 2025, NetLaw and Hargrove Firm co-hosted a continuing education webinar, Estate Planning Pitfalls: Strategies to Safeguard Your Clients’ Plans. The session examined the most common estate planning pitfalls that can jeopardize client goals and discussed how advisors, attorneys, and technology together can help prevent them.
This program emphasized the critical role financial advisors play in the estate planning process. Advisors are often the first to recognize significant life changes that can impact a client’s plan. When they collaborate closely with estate planning attorneys, and use technology that supports that partnership, they help ensure each plan remains aligned, implemented, and effective over time.
Why Estate Plans Break Down
Even the most comprehensive estate plan can become ineffective if not properly maintained or updated. Life events, shifting assets, and overlooked implementation steps can all disrupt client intentions. Coordinated communication between advisors, attorneys, and clients is key to preventing these breakdowns and keeping plans up to date.
The Top 10 Estate Planning Pitfalls
Many clients assume their estate plan is “finished” once they sign the documents. In reality, that’s often when the most critical work begins. During the webinar, we explored ten common pitfalls that can weaken an otherwise strong plan:
- Outdated Beneficiary Designations
Beneficiary forms override wills and trusts, which means an old designation can send assets to unintended recipients. Regular reviews after major life events—marriage, divorce, births, or deaths—help ensure designations align with current wishes. - Inconsistent Asset Titling
When assets are titled incorrectly or left out of trusts, probate and tax issues can arise. Advisors can play a pivotal role in reviewing titles and ownership structures to ensure they match the estate plan. - Unfunded or Improperly Funded Trusts
A trust has no effect until it holds assets. Property transfers, account retitling, and beneficiary updates are essential steps that advisors can help coordinate to make sure a client’s trust functions as intended. - DIY or Incomplete Documents
Online templates or outdated documents often fail to address state-specific laws or complex family structures. Professional legal drafting ensures accuracy and completeness, avoiding unintended gaps or conflicts. - Joint Accounts with Unintended Consequences
Joint ownership may seem convenient, but it can create inheritance issues, expose assets to a co-owner’s creditors, or override other planning tools. Structuring accounts with POD/TOD designations or through trusts provides greater protection. - No Guardianship Nominations for Minors
Without clear guardianship provisions, courts determine who will care for children. Advisors should prompt clients to name both guardians and trustees to ensure children and assets are protected. - Naming Minors or Special Needs Beneficiaries Directly
Direct inheritances can cause legal complications or disqualify beneficiaries from support programs. Trusts offer the control and structure needed to manage funds responsibly while preserving benefits eligibility. - Lack of Incapacity Planning
Without durable powers of attorney or healthcare directives, loved ones may be unable to act during a client’s incapacity. Advisors should ensure these essential documents are in place and periodically reviewed. - Estate Plans Not Integrated with Financial Strategies
An estate plan is only as strong as its coordination with the client’s financial picture. Advisors and attorneys should collaborate to align tax, liquidity, and investment strategies with the estate plan. - Failure to Update the Plan Regularly
Life evolves, and so should an estate plan. Plans should be reviewed every 3–5 years or after major changes such as relocation, marriage, or tax law revisions. This keeps documents relevant and goals achievable.
Technology-Enabled Collaboration for Better Planning
At NetLaw, we believe estate planning should be a collaborative process. Our platform connects advisors, clients, and attorneys in a secure digital environment that simplifies communication, document management, and plan updates.
Through NetLaw’s integrated system, advisors can monitor progress, ensure assets are properly titled, and facilitate communication between clients and Hargrove Firm attorneys. This transparency improves efficiency and builds trust, both in the plan itself and among everyone involved in creating it.
For advisory firms, NetLaw offers a seamless way to expand estate planning services without increasing operational complexity. The platform bridges the gap between financial and legal professionals, helping ensure that every plan is implemented correctly and evolves with the client’s needs.
Watch the Recording
For a deeper look at these topics, including case studies and practical strategies, you can watch the full webinar recording on YouTube.
Next Steps
Advisors interested in learning how NetLaw’s technology supports collaborative estate planning can connect with our team for a walkthrough of the platform and get questions answered. Contact us or schedule a demo.
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