The 7 Most Costly Estate Planning Mistakes Families Make
A plain-English guide by Greg Stevens — written for UK families.
A quick read that could save your family thousands
Trying to write your own Will
Around 1 in 5 homemade Wills are invalid because of incorrect witnessing, ambiguous wording or out-of-date wording. A small saving today can cost your family thousands later.
Assuming your home automatically passes to your children
If you own as joint tenants, your share passes to the survivor — not directly to the kids. A Property Protection Will using tenants-in-common ownership keeps your half ring-fenced for them.
Forgetting to update your Will after big life events
Marriage revokes a Will. Divorce, new children, new property and inheritances all change the picture. We recommend reviewing your Will every 3–5 years.
Not having Lasting Powers of Attorney in place
Without LPAs, if you lose capacity your family faces a £3,000+ Court of Protection deputyship application that can take 6+ months — at the worst possible time.
Ignoring inheritance tax allowances
The Nil Rate Band and Residence Nil Rate Band can shield up to £1m from inheritance tax for married couples — but only when your Will is structured to use them properly.
Naming the wrong executors or guardians
Choosing an elderly executor, a single executor or a guardian who can't realistically take on the role causes some of the worst probate disputes we see.
Doing nothing
Most people put estate planning off — until it's too late. A free 30-minute review is the single most useful 30 minutes you'll spend this year.
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