Wills are an important part of your estate plan, as they contain directions for how assets are to be distributed after death. However, if the will is out of date because laws have changed or your life has changed, could your will create more problems than it solves? An outdated will can wreak havoc on your family’s finances, says a recent article, “Three common things retirees should remove from their wills,” from The Independent. Beck, Lenox & Stolzer Estate Planning and Elder Law, LLC, has seen its share of disasters with wills.
Any time there’s a death, birth, divorce, or other large life event, a will should be reviewed. Wills should also be reviewed every three to five years to be sure they reflect current wishes. In addition, wills containing sensitive information need to be revised to protect them from theft and fraud.
Some older wills contain information such as credit card and bank account numbers, Social Security numbers and even vehicle identification numbers (VINs). These are probably very old wills, created when it was harder to find this information and use it against the owner. Today, in a heartbeat, the wrong person, armed with personal information, can wreak havoc on an estate or a surviving spouse’s life.
Wills become part of the public record once they are filed in the probate process. The average person isn’t going to the courthouse to snoop on their neighbor’s last will and testament. However, they could, if they wanted to. Worse, a scammer can use the information to access assets before the family realizes it needs protection. This is why families and surviving spouses are inundated with offers from real estate agents, financial advisors and others after a death.
Another mistake found in many wills—naming too many executors. The executor is the person who oversees administering the estate. Their position is verified by the court after the will is reviewed and approved. In most states, the executor receives Letters of Testamentary authorizing them to act on behalf of the estate. They’ll need to obtain a special estate identification number (EIN) from the IRS, open an estate bank account, transfer assets into the bank account and take charge of the estate.
In some families, having two executors is not a problem, while in others, it becomes a major hurdle to administering the estate and can lead to litigation. Speak with your estate planning attorney about whether to allow the executors to act separately. Requiring them to act separately may speed up the process of administering the estate. Every situation is different, so this warrants a conversation with a knowledgeable attorney.
Money is the source of most will contests, especially when it comes to disinheriting a family member. People have tried to accomplish this by leaving the estranged person a small amount of money, so they don’t feel left out. Sometimes the sum is intended as a last-parting shot against the person. However, even giving someone $100 gives them something more valuable: standing to challenge the will. A child who is not mentioned at all or is given a small amount will often turn to litigation.
Instead, the will should actively disinherit the person and include an explanation detailing why the beneficiary is excluded, so the court may see clear intent to disinherit if the matter comes to litigation. Another method is to give the person enough money to make them think twice about challenging the will, and to include a no-contest clause so anyone challenging the will risks losing their inheritance entirely.
Every family’s situation is different, which is why it’s so important to meet with an experienced estate planning attorney to work through the nuances and protect the family and the estate. Beck, Lenox & Stolzer has over 50 years of helping families with wills and other estate planning documents. We can help you! New clients can schedule a free phone consultation here. Existing clients can call the office to schedule a review at no charge.
Reference: The Independent (March 6, 2026) “Three common things retirees should remove from their wills”
