Estate Planning can be a daunting process for many reasons. First of all, you’re planning for your own demise, which is understandably not pleasant. Secondly, you are reviewing your whole life, all of your assets and accomplishments and legacies – and that’s no easy task either.
Forbes has endless tips on Estate Planning, but in the article linked below, they explain 7 mistakes they describe as deadly. They are:
Not understanding the plan
Outdated beneficiary designations
Not updating asset ownership
Failure to fund revocable trusts
Not coordinating trusts and retirement plans
Not updating powers of attorney
Not updating the plan
Although it is important to get Estate Planning documents done, it is just as important to make sure your current Estate Plan is the one you want. There can be several opportunities to change it, you just need to be aware.
Danna & Associates has not only specialized in Estate Planning since 1994, but also in Elder Law. These fields combined give us a thorough and unique perspective on individual and joint Estate Planning. Call 718.273.0300 for your free consultation today!
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