Common Mistakes in California Estate Planning
An estate plan also helps with maximizing the actual value of the estate you’ll bequeath to your heirs and beneficiaries. And allows you the opportunity to make informed decisions concerning how your assets should be handled while you are still alive.
Below are ten common mistakes in California estate planning and how to avoid them:
1. Failing to make a plan
2. Failing to update your will
3. Failing to plan in case of sudden disability
4. Failing to donate or send gifts
5. Putting your child’s name on the deed
6. Failing to appoint the right trustee
7. Failing to transfer your life insurance policies to a life insurance trust
8. Failing to take advantage of federal exemptions
9. Being lazy
10. Doing it yourself
It’s best to work with an estate planning professional to make sure that all bases are covered. Talk to an attorney to learn more about avoiding the pitfalls that you may encounter in the complicated business of estate planning. Click the button below and schedule a call with our team to get started.