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Offered by Dolan & Associates, P.C.

Below is the continuation of the top 10 common mistakes people make when they die.

Focus on Taxes. Spending too much time and energy focusing on tax implications and overlooking critical family issues that arise upon death can cost you and your family much more than what you would have paid in tax. Saving taxes is important, but it shouldn’t be put ahead of family harmony.

Confusion about Documents. Another common mistake is believing that the estate planning documentation they have put in place accomplishes things that it simply does not. You should know what documentation you have, why you have it, what it accomplishes. Also, you should know how it works in relation to the other steps you take to have an effective estate plan.

Don’t Know What Options Are Available. Putting a plan in place without knowing what all of the options are to produce an effective estate plan is a common reason why estate plans fail to meet their objectives. There is no such thing as a one-size-fits-all plan. You should understand what options are available to you so you can maximize the benefit to your family upon your death.

Don’t let your family be the horror story everyone talks about when they get together for coffee. Take the steps necessary to avoid these common mistakes so that things will go smoothly when you die.

Tune in to next month’s Brighton Buzz for more of the Top 10 Mistakes People Make When Dying and go to www.EstatePlansThatWork.com for additional resources.

Dolan

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Dolan & Associates | Estate Plans