Aging infrastructure is prevalent throughout the world but water control management structures, specifically dams are of growing concern. Dams and their corresponding reservoirs have inherent, but separate, lifespans. The proportion of dams around the world that continue operation beyond their intended lifespans is growing at an alarming rate. Society will not only have to navigate the tradeoffs associated with the deterioration of services provided by reservoirs and dams, but also impending structural failures. Society is nearing a critical pinch point where we will have to decide how to deal with dams and reservoirs at scales that range from a single system to multiple systems in large watersheds. No comprehensive strategy exists to inform both the range of actions that can be applied to such infrastructure and how such actions would influence biophysical, socioeconomic, and geopolitical tradeoffs. The development of proactive exit strategies is a critical first step in ensuring controlled transitions for aging dams and reservoirs. Herein, we present an overview of actions and considerations for aging dams and reservoirs in the USA followed by an initial framework for exit strategy development to launch further discussion on how society could deal with this aging infrastructure.