Kaplin Stewart

Avoiding estate planning mistakes

Estate planning is essential in making certain we preserve our property and pass it along correctly to the people we care for. The law in this area is complicated, however. Mistakes in drafting a will or not having assets properly sheltered leads to complications, expenses and possibly not even having our wishes carried out.

Estate planning serves dual purposes. It allows for preservation of property and assets passed onto our loved ones. It also allows for us to have money during our retirement years or during a period of time when we are unable to work or care for ourselves.

Sadly, many of us never put enough money away for retirement and are unable to hold onto our homes. Also, many of us do not get around to estate planning considerations until it’s too late.

There are some things it’s always good to keep in mind:

These are only a few tips for avoiding mistakes when creating an estate plan. It’s also always a good idea to check with knowledgeable attorneys regarding your individual circumstances.

Source: USA Today, “Big retirement mistake: Boomers with no estate plan,” Rodney Brooks, April 8, 2015