This column examines some of the common estate planning mistakes that people make. Fear can be a big cause of procrastination. Talking about mortality can be difficult and people often put off important estate planning decisions. Indecision is also a problem that people face, and one common area of indecision is deciding guardianship issues. Clients should be encouraged to make these important decisions and they should be aware that nothing is set in stone and that they could always change their mind. It is extremely important to pay attention to details because inattentiveness can be the cause of serious financial planning mistakes.
See Paul Hechinger, 3 Biggest Barriers to Successful Estate Planning, Financial Planning, August 6, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
