The biggest mistake in estate planning is not to have an estate plan.
A story on wealthmanagement.com says that 38 percent of those with assets over $1 million have not engaged professional help with their estate plans.
This can leave a huge mess for your loved ones to clean up.
Other mistakes:
- Not signing your will.
- Tax mistakes. Many people believe if they don’t have assets in excess of $5.43 million (the federal exemption) they don’t need a plan. They probably do.
- Not keeping your plan up to date. Situations change.
If you have questions about estate planning, feel free to contact us for a consultation at (626) 696-3145.
