Estate Planning Mistakes to Avoid


Estate planning can be complicated and it’s not uncommon for people to make mistakes with their plans. So what are some of the more common mistakes?

  • Not having an estate plan
  • Not confiding in a trusted person that you have a plan and where to find it should something happen.
  • Not updating your estate plan.
  • Improper beneficiary designation.
  • Not changing asset titles to trustsIncorporating revocable living trusts into a client’s estate plan but forgetting to update all the account titling to the name of the trust.Not changing titles create problems that include having to pay additional probate costs, losing the private nature of settling the estate.