Estate Planning Mistakes

There are lots of common estate planning mistakes. Estate planning is not only about planning for death, it is also about planning for life. Don’t rely only on an estate planning attorney. Your financial plan is the foundation of your estate plan. You need to write letters of instruction. Just because you had a great plan doesn’t mean its current. You must keep your plan and documents updated. Not using the planning you set up is a mistake. If you set up a trust or entity like an LLC are you using it properly? Don’t create an estate plan that only works under limited circumstances. Your wealth may increase or decrease, new family members may be born. Be sure your documents and planning are adaptable.