What are the most common estate planning mistakes people make?

What are the most common estate planning mistakes people make?

Some common mistakes include not having a will, failing to update beneficiaries, and not considering tax implications.

Why is it important to have a will?

A will ensures your assets are distributed according to your wishes and can help avoid family disputes.

How often should I update my estate plan?

You should review and update your estate plan every few years or after major life events like marriage or the birth of a child.

What happens if I die without a will?

If you die without a will, your assets will be distributed according to state laws, which may not align with your wishes.

Can I create an estate plan on my own?

Yes, you can create an estate plan on your own, but consulting with an attorney can help ensure it's legally sound.