Article published by : Matt Odgers on Sunday, October 17, 2021

Category : Business

4 Common Estate Planning Mistakes You Should Never Make


Estate planning gives people peace of mind knowing that their property and valuables will be in good hands. Furthermore, it ensures your loved ones will also have a secure future. However, any misstep in the estate planning process causes issues and adds stress to your heirs. This is also why one should always hire a professional estate planning lawyer who knows the ins and outs of estate planning in San Diego. Here are four common mistakes you should never make.

Mistake 1: Not Studying the Plan

A huge mistake that several people make is not dedicating the time to analyze and understand their estate plan. This is just as bad as not creating a plan! Such individuals will simply hand over the entire responsibility to an estate planner and don’t look back. It is important to know how your estate plan works, what should be done to implement your plan properly, and how it helps your chosen beneficiaries.

Mistake 2: Considering DIY Estate Planning

DIY estate planning is never recommended. The whole process is complex and overwhelming to an average person (even more so if you have assets or properties in multiple states), so it’s highly likely that you will make mistakes. You might not have the knowledge and understanding of the laws associated with estate planning in San Diego. This could put the financial future of your family in jeopardy.

Mistake 3: Not Choosing the Right Executor

Another common mistake is failing to choose the right executor. An executor not only distributes one’s assets, they have other responsibilities too. Such as, notifying creditors, submitting your death certificate, alerting government agencies and more.

An executor has great power over your estate, so things can get messed up if you don’t choose the right person. A fraudster can steal from estate too, so make sure that you appoint someone you can trust.

Mistake 4: Not Planning for Incapacitation

When people are preparing their will or trust, they don't think about incapacitation. It is something that could happen to anyone. Someone you know should be able to manage your estate, if you cannot do so. The process would be lengthy, time consuming, and costly if you want the court to do it.

Qualified estate attorneys recommend appointing a trustee who can take the responsibility for you. A limited power of attorney can also be obtained for this purpose. Again, choose only someone who is reliable and trustworthy.

Estate planning can get complicated if you don’t deal with the right people. A recognized estate planning law firm in San Diego will simplify the process for you and avoid the aforementioned mistakes in the process. Schedule a consultation with the experts today.

---

Keywords: estate planning san diego ,estate planning law firm san diego



By: Matt Odgers

Free Article Directory: http://www.jumparticles.com

Copy and Paste Link Code:


Article ID 1145201
This article has been viewed 1498 times

SPONSORS

FEATURE SPONSOR

You can now Buy Cancer Drugs like Lenvima (generic version Lenvatinib), Imbruvica (generic version Ibrutinib) at deep discounts due to the Generic Program. Brain boosting drugs like Provigil (generic version Modafinil) and Nuvigil (generic version Armodafinil) are also available at discounted prices.