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7 Common Estate Planning Mistakes

7 Common Estate Planning Mistakes – Don’t make these simple mistakes!

The First One is that you need one no matter how financially wealthy you are; get it done to take care of your property and holdings for your family.

Then, there is not planning for your pets. Legally, your pets are personal property, so you should take the time to spell out who will be responsible for them.

Also, thinking about scenarios that could happen and then choosing a trustee who will be in charge of your affairs is no small decision.

Have you thought about your digital assets? Remember that your property isn’t just confined to what you physically own but also to your “online life.”

Although it’s nice to think that you can trust everyone to do the right thing. However, the truth is that if you don’t have your wishes formalized, there may be a debate over what the “right thing” actually is.

It’s always difficult to predict which families will get along and which will end up in court fighting over the family china! Leaving an estate plan with clear instructions is your best defense against family discord.

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All of these Estate Planning Mistakes are important and can be explored more in the link below.

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