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INSIDE
A Reflection on Gabby’s Amazing Journey
Protect Your Assets From Estate Tax
Florida Woman Takes the Title for World’s Worst Criminal
Secure Your Future
Creamy Chicken Carbonara
Estate Planning Pitfalls You Need to Know
Are You Making One? Common Estate Planning Mistakes
Forgetting to Keep Your Plans Fresh Life changes quickly. Marriage and divorce, births, and property sales are just a few events that can affect your estate plan. It’s easy to forget to account for these changes, but the result won’t be easy for your family to forget. Imagine leaving all your property to a former spouse because you never updated your will. This might sound crazy, but it happens. If you created your estate plan years ago and never updated it, refresh it now. Creating a DIY Disaster It’s easy to be attracted to a DIY solution. They’re convenient and appear affordable, and who wouldn’t want to save time and a few bucks? Even Aretha Franklin, the “Queen of Soul,” had a DIY estate plan. But like many people who go the do-it- yourself route, her situation didn’t work out well. Remember, you’re not a lawyer, and mistakes are easy to make when you use online tools for help. Instead of trying to
Putting together an estate plan is like writing the final chapter of your book, and you don’t want to make your book a horror story. Avoiding common estate planning mistakes will ensure your family isn’t confused, stressed, or surprised when it comes time to fulfill your final wishes.
save a few pennies, talk to a lawyer and get your plan right. Naming the Wrong Personal Representative The personal representative of your will has an important job. They handle paperwork, settle debts, and ensure assets go to the right people. People often base their choice of personal representative on family connections only, but you must also consider qualifications. For instance, your eldest child might be a logical choice. But what if they live thousands of miles away and haven’t managed their finances well? It could mean delays, mistakes, and a major headache for everyone involved. The best move is to choose a reliable and organized personal representative, even if they’re not a family member. What story will you leave behind? Keeping your plans updated, seeking professional help, and making careful decisions will ensure it’s the one you want.
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(978) 653-4092
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