When putting together an estate plan with clearly defined objectives there are certain common mistakes that should be avoided. It is important to focus on how that assets that a person leaves will impact the recipients. People should plan ahead for the possibility of any disability because not having a plan in place could lead to many problems. A will is important, but it is not the only estate planning document that people should have and is not a guaranteed way to avoid the probate process. This article discusses other estate planning documents that people will need to have besides a will. People should speak with an experienced estate planner to get personalized estate planning advice.
See Some Common Estate Planning Mistakes, Idaho Estate Planning, December 29, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
