03/27/2023
It might be hard to say “estate mistakes” four times fast … but it’s fairly easy to make four of them fast. That’s why we’re sharing four common mistakes you’ll want to avoid:
🖋️ Failing to include power of attorney - A power of attorney names someone you trust to act in your stead should you become incapable of making important decisions.
🖋️ Misunderstanding your estate plan - Take the time to read through and understand the plan, what it entails, and what will happen when it is put in motion.
🖋️ Forgetting to update it as circumstances change - We suggest you revise your plan at least every 5 years to make sure your current wishes are reflected and followed.
🖋️ Failing to fund revocable trusts - Assets owned by the trust are protected from being tied up in probate court. Your attorney will draw up the appropriate paperwork, but you will need to transfer the relevant assets to the trust.
Share this post to spread the word ➡️ Have questions about estate planning or thinking it’s time to review your current plan? Don’t hesitate to reach out! We’re here to help.
