While no one can predict the future, tools such as estate plans can give you some level of control and valuable peace of mind. With a solid estate plan in place, you can dictate what you want in terms of asset distribution, healthcare wishes, and more.
However, an estate plan is only as effective as its execution, and errors or oversights during the drafting or implementation stages could undermine your efforts. Given the important role that an estate plan plays in your life, it pays to double check and ensure that you’re not overlooking any mistakes.
To help, this post goes over some of the mistakes and oversights that you need to be aware of as you set out to draft your estate plan. Nothing beats the assistance of a qualified estate planning attorney, and remember that we at Egbert & Barnes P. C. are a quick phone call away. For now, this post should help you get the ball rolling.
What Errors Should I be on the Lookout for?
Estate plans are varied and specifics can be very different on a case-by-case basis. With that said, be on the lookout for things such as:
- Plans that have not been updated to account for recent changes or life-altering events
- Not accounting for the possibility of disability or illness
- Waiting until it is too late to put an estate plan in place
- Trusting the wrong person with your estate
- Failing to explore all the options that help minimize taxes on your estate
Consult with a Knowledgeable Estate Planning Attorney
As always, this is not an exhaustive list. The best way to ensure that your wishes and plans are fully accounted for is to work with a qualified estate planning attorney, someone who can help you draft an effective estate plan that protects you and your loved ones, as well as all your assets, from any future threats.
To learn more, we invite you to contact us at Egbert & Barnes, P. C. We offer free initial consultations, where we can discuss your specific estate planning needs in more detail.