We currently have a trial version of Premium. The sandbox has a few test projects set up within it, but otherwise the other Premium features (e.g. Advanced Roadmaps, global automation rules, project archiving) are not being utilized.
If the trial ends up expiring without being purchased, will the plan default to Standard? And if so, will there be any impact on existing projects/issues? I haven't been able to find details beyond that the Premium features will no longer be available, and would assume that the instance would revert to Standard without any further complications, but would like to confirm what the impact would be.
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Once the trial period is over you will be billed for the Premium plan unless you downgrade to the Standard plan, that will not happen automatically. But as you have found, besides loosing access to premium features nothing else would be impacted.
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