Even Santa would agree: estate planning mistakes can land you on the naughty list. And unfortunately, these errors aren't just common. They're costly.
Top 5 mistakes to avoid
- Having no estate plan. Dying without a Will means the state decides who gets what.
- Failing to update your documents. Divorce, births, and deaths all require updates.
- Forgetting to fund your trust. A trust won't work unless assets are titled properly.
- No power of attorney or health care directive. Without them, court intervention may be needed.
- Unclear communication. Surprises in estate planning often lead to family disputes.
Over hot cocoa or coffee, ask your family: "If something happened, would we know where your documents are?" It's a non-threatening way to open the door and close the gap in planning.