It should surprise no one that we all need an estate plan. A well-crafted plan helps ensure, among other things, that your family will be taken care of per your wishes after you die. Contemplating one’s mortality isn’t pleasant, but it must be done to preserve your wealth and avoid adverse tax consequences. Assuming you’ve already set up an initial version of your estate plan, here are five traps to avoid:

1. You don’t understand your estate plan. This is a surprisingly common trap that many individuals fall into — even those who rely on the guidance of an experienced estate planning advisor. Knowing what you’re signing and what each document means is essential. Unfamiliarity or confusion can lead to failing to follow up with necessary actions.

You don’t have to become a legal professional; you must grasp the basic concepts. Even if you feel safe relying on your advisor, knowledge is power.

2. Your trusts aren’t adequately funded. Estate plans often include one or more trusts, such as a revocable living trust. The primary advantage of a living trust is that assets transferred to it avoid probate and remain private. However, a living trust should complement a will, not replace it.

To be effective, the trust must be funded by transferring legal ownership of assets. You must carefully follow financial institutions’ instructions when transferring securities or bank accounts. Otherwise, the assets may go through probate, which can be time-consuming, costly, and public.

3. Your assets haven’t been appropriately titled. How you own assets can make a big difference, inside and outside trusts. Suppose, for example, you own property with someone as joint tenants with rights of survivorship. Upon death, the assets will go directly to the other named person, such as your spouse.

Titling assets at the time of purchase (or transfer) is critical. However, it’s still important to periodically review these designations, just as you should your beneficiary designations.

4. Your estate plan lacks coordination between its various components. Most estate plans have several moving parts: a will, a power of attorney, trusts, retirement plan accounts and life insurance policies. Don’t look at each piece in a vacuum. Each component of your estate plan may have a different objective, but together, they should sync up to form a well-coordinated system.

5. You don’t periodically review your plan. Think of your estate plan as a “living” entity that must be nurtured. Don’t allow it to gather dust in a safe deposit box or file cabinet. Consider the impact of significant life events — such as births, deaths, marriages, divorces, or job changes or relocations — and be prepared to make changes.

The easiest way to avoid falling into this or any other trap is to work with your professional advisors, including your attorney and CPA, to

draft and review your estate plan regularly. They have the expertise to help ensure your plan will work as intended.