Are You Making These Big Estate Planning Mistakes?

May 31, 2017

The most troubling aspect of mistakes made in the estate planning process is that it’s your beneficiaries who have to deal with the consequences of poor planning or no planning at all. Once you pass away, it is your loved ones who have to step in and manage your estate and any confusion associated with it. estate planning mistakes

The good news is that many of these mistakes can easily be avoided by consulting with an experienced estate planning lawyer early on. Having a relationship with someone you can trust can benefit you tremendously when you have questions about how your shifting life circumstances will influence your future.

Here are some of the most common mistakes that people make when it comes to considering the future of their own needs while they are still alive or passing on their assets and legacy after they pass away:

  • Not updating beneficiaries on life insurance policies or retirement accounts
  • Setting up a trust but failing to fund it
  • Using a do-it-yourself will that is not legally valid
  • Not telling anyone where the most recent version of your will is stored
  • Failing to consider how your assets may be impacted by long-term care needs in the future
  • Not thinking about estate planning and retirement planning as a joint process.

Setting up a meeting now with a knowledgeable estate planning lawyer can help you uncover the strategies that will help you accomplish your goals and give you the peace of mind that comes with advanced planning. Don’t hesitate to talk to an attorney who can help you navigate these complex and extremely important situations.

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families

Learn how to identify, avoid, and respond to financial scams with practical strategies designed to protect your wealth and personal information. How to Protect Yourself from Financial Scams: A Practical Guide Financial scams are becoming increasingly sophisticated, targeting individuals and families across all income levels. Whether through phone calls, emails, social media, or even trusted-looking websites, bad actors are constantly ...

<p>The post How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider

Learn how W-2 employees may be able to reduce their tax burden through strategic planning, tax-advantaged accounts, and thoughtful financial decisions. Can W-2 Employees Reduce Their Tax Burden? For many professionals, earning income as a W-2 employee can feel limiting from a tax-planning perspective. Unlike business ...

<p>The post Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Elevating Wealth: How Lifestyle Services Transform Financial Success into Meaningful Living

Discover how curated lifestyle services—from travel and wellness to protection and life transitions—help transform wealth into a more intentional, fulfilling way of living. Elevating Wealth ...

<p>The post Elevating Wealth: How Lifestyle Services Transform Financial Success into Meaningful Living first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>