common estate planning mistakes series Archives | Page 5 of 6 | Estate Planning and Elder Law Attorney

Common Estate Planning Mistake #10: Failing to plan properly for minor beneficiaries

Wills and Living Trusts offer a peace of mind that when we pass away our estate is distributed as we wish. Very commonly, we leave our estate to our children, and then to our grandchildren if they die before we do. However, what isn’t always addressed is what happens if we pass away while our […]

Common Estate Planning Mistake #9: Failing to name enough successor agents under a Power of Attorney for Property

There are only two people who can give somebody the authority to make and carry out decisions for you. One is a Judge through an expensive guardianship proceeding and the other is you through a Power of Attorney. A Judge can give that authority to just about anybody, whether we would want them to have it […]

Common Estate Planning Mistake #8: Failing to address the possibility of a second spouse disinheriting children from a first marriage

The typical estate planning structure for married couples, of leaving everything to each other and then to the children after the second spouse dies, should be different for second marriages, especially when children from first marriages are involved. While it’s unlikely the second-marriage couple will knowingly plan on disinheriting children belonging to each other, not […]

Common Estate Planning Mistake #7: Failing to include enough powers in a Power of Attorney for Property

Not all Power of Attorney for Property documents are created equal. Some may give authorization for an agent to pay your bills, while others may give authorization for your agent to do more complex things such as setting up a trust for you to protect your assets. In this Elder Law and Estate Planning Minute, […]

Common Estate Planning Mistake #6: Trying to ‘Do it Yourself’

There can be a false sense of security with ‘do it yourself’ estate planning. While the estate plan may seem strong at the time, it may not prove to be beneficial down the road when unforseen or other possible situations that can occur in life aren’t considered. Consulting with an attorney is the best way to gain a true […]