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Avoid These 10 Common Estate Planning Mistakes

As a second entry into my series about estate planning mistakes many people make, we are continuing my theme of the importance of selecting the right estate planning lawyer for you and for your family to keep your family out of court and out of conflict when it is most important.

As a Personal Family Lawyer® and through our probate cases, we see many of the same estate planning mistakes made time and again by people who either fail to plan properly or who use “do-it-yourself” estate planning websites or forms in an effort to save money.  These mistakes can cost your family much more than the value of your estate plan and they can cause conflict for your family and can even leave your children in the care of the state while they await the arrival of proper guardians.

Without professional guidance, this can cause more problems for your heirs and may end up depleting estate assets by far more than what you could potentially “save” by doing it yourself online. Keep in mind, the website does not take the time to get to know your or learn about your family. At Truest Law, you are not just a set of forms.

A qualified estate planning attorney or Personal Family Lawyer® can help you avoid these 10 common estate planning mistakes:

1. Failure to leave any written documentation of your assets, including a list of your online accounts and passwords

2. Failure to let family members know where to find important estate planning documents

3. Failure to name a guardian for minor children or choosing a guardian who lives far away without planning for temporary, local guardianship (solved with a comprehensive Kid’s Protection Plan®)

4. Failure to name recipients for your personal possessions

5. Failure to designate beneficiaries for retirement and other financial accounts

6. Failure to name secondary beneficiaries

7. Failure to name alternative trustees or executors

8. Failure to properly fund or title assets to any trusts you have established

9. Failure to update your estate plan as life circumstances change

10. Failure to create an estate plan of any kind and instead leaving it to the court system to decide how your assets will be distributed

If you’d like to learn more about how to avoid common estate planning mistakes that could cost your family dearly, call Truest Law today at 480-949-6500. We normally charge $750 for a Family Wealth Planning Session, but because this planning is so important, we’ve reserved two appointments for the next two people who mention this article to have a complete planning session at no charge. You may only qualify for this session by calling our office today – PLEASE MENTION “10 Mistakes”

Hey, congratulations!

Ready to talk with us about how you can keep your family out of court or out of conflict when something happens to you.

Or, maybe you are the family member or close friend of a loved one, and something has happened and now you need advice. If so, our hearts are with you, and we will do our best to help you keep things as easeful as possible.

There are three options for you to get our support. Choose the one that’s best for you:

  • Schedule Free 15-Minute Phone Consultation
  • Schedule 2-Hour Family Wealth Planning Session
  • Schedule 2-Hours Existing Estate Plan Review

Schedule With Truest Law

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