Top Mistakes To Avoid When Estate Planning

Procrastination

The process of estate planning can be confusing and time consuming and because of this you may be tempted to put it off indefinitely. This procrastination could cause unnecessary taxes, fees and stress to your loved ones should you pass away before a plan is put into place.


Here are some tips to getting started if you have been planning for your families' financial future:

● Hire a financial planner or estate planning attorney

● Invest in an estate planning kit or guide

● Take it one step at a time

Not updating your plan

So you have a plan in place...congrats! Unfortunately the work to protect your estate doesn't stop there. You will need to periodically update your plan as life events and changes occur.


For example:

● The death of a loved one

● The addition of another child

● Marriage

● Divorce