Estate Planning- “Mistakes You Are Making”

A recent Forbes article described five “crucial” estate planning mistakes that are common- even among people who have given attention to planning their estates. These include:

– having the wrong guardian for your children

– having the wrong beneficiary listed on your retirement account

– holding an invalid medical power of attorney

– not having a durable power of attorney notarized

– having inadequate life insurance

In my practice I have seen many more mistakes than just the five listed here. Note that these are mistakes which can occur even if you have estate planning documents. The best way to avoid the mistakes is to review your estate plan with a lawyer.

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