Sounds good.
The wiki will give you the general consensus view, but my view is:
- if there is a physical feature still remaining, eg a building, then a separate tag like abandoned=yes is most suitable, as it retains rendering but also indicates the state.

- if there are no physical features, and the feature is a POI that needs to be active to be useful to map users (eg shops, amenities, water pumps that need electricity to operate etc) - then a lifecycle prefix is better, and is does not lead a mapper to this POI with them expecting it to be operational (since most software won't show it is abandoned=yes)