Estate planning is a critical process for investors as they consider the transfer of assets to their heirs, and there are some big mistakes that are easy to make if you lack sound estate-planning advice. That could give your heirs big headaches when you’re gone — the exact opposite of what you want. If you need help in this area, give our office a call; we have partners and colleagues who can help make sure you avoid issues like these:
- Not reviewing your beneficiaries periodically, or not naming contingent beneficiaries;
- Forgetting to change your IRA to reflect your divorce and remarriage;
- Leaving assets directly to a minor, leaving guardianship issues open;
- Having too many assets in one spouse’s name;
- Forgetting to include a clause covering items not named in your will or included in a trust;
- Not establishing trusts if you need them;
- Forgetting to update your will;
- Failing to plan for long-term disability.
Sometimes estate planning can be difficult to initiate or review simply because of a fear of our own mortality, and competent counsel can be helpful to ease the process. Don’t put it off; ask for help if you need it.
