Estate planning mistakes are :- 1. Naming only one adult child as beneficiary of life insurance or financial account, including an IRA. 2. A minor should not be named the direct beneficiary of property or life insurance. 3. Property should not be given directly to someone who might be divorced, subject to liability lawsuits, or is in a risky business. 4. Many people do not have a will at all. If you die without a Will, you relinquish to the state the right to decide who will receive your property and who will serve as your executor. 5. Failure to name a successor executor or trustee might result in North Carolina law and the clerk of court determining the successor.