--- title: "5 mistakes to avoid when estate planning" source: https://www.perissosprivatewealth.com/insights/5-mistakes-to-avoid-when-estate publisher: Perissos Private Wealth Management published: 2024-05-17T21:49:05.454555+00:00 updated: 2026-05-06T19:29:38.256401+00:00 topics: estate planning mistakes, oklahoma estate planning guide, trust funding errors, beneficiary designation updates, probate avoidance bethany ok license: Educational content. Cite with attribution. Not personalized financial, tax, or legal advice. --- # 5 mistakes to avoid when estate planning 5 mistakes to avoid when estate planning: estate fundamentals from Perissos Private Wealth — wills, trusts, beneficiaries, and protecting your family. ## Frequently asked questions ### What are common mistakes to avoid in estate planning? Estate planning mistakes include failing to update beneficiary designations, neglecting to fund trusts, and omitting a power of attorney for medical or financial decisions. Failing to account for tax implications or state-specific laws in Oklahoma can also complicate the transfer of assets. ### How does a trust differ from a will in Oklahoma? A will generally requires probate to validate and distribute assets, whereas a properly funded trust allows assets to pass directly to beneficiaries outside of the court process. Relying solely on a will often results in a public and potentially lengthy legal proceeding. ### Why is updating beneficiary designations important for an estate plan? Beneficiary designations on life insurance and retirement accounts typically override instructions left in a will. Keeping these designations current is critical to ensuring assets are distributed according to your current wishes. --- Source: [Perissos Private Wealth Management](https://www.perissosprivatewealth.com/insights/5-mistakes-to-avoid-when-estate) — fee-only fiduciary wealth management in Bethany, Oklahoma. 405.212.9690. This article is educational and is not personalized financial, tax, legal, or investment advice.