Estate Planning Mistake #5: Assuming that Everyone in the Family Will Continue to Get Along
The death of a family member can exacerbate family frictions. Even if your family members appear to be getting along right now, that might not last and without a clear plan, fractures could turn into major cracks.
There could be bitterness over how things were divvied up or family members may start fighting for control of various assets. Many of these problems can be avoided by taking the necessary steps to plan in advance. The state of your children’s lives may also be something to consider in the future, particularly if an equal distribution of assets is not in the best interests of everyone.
Estate Planning Mistake #6: Failing to Be Specific Enough
Communication of your estate planning goals is key and for this reason you need to as specific as possible. Far too many sources of friction have to do with decisions you can make well in advance of your family needing to see your estate planning documents such as choosing burial or memorial services, or organ donation. Reasoning is impaired after the loss of a loved one and emotions can also be running high.
This means that even loving families can begin to disagree about items of sentimental value or private concerns. There are also digital assets that will need to be managed after you pass away.
When you select someone to serve as one of your agents and empower this person to make decisions, you also need to schedule a conversation to talk about whether or not they are comfortable taking on this responsibility. Avoiding some of the most common estate planning mistakes can all be achieved by scheduling a consultation with a Pasadena estate planning attorney. Â
