Part 2 of 3

In this three-part series, the following are 3 of the top 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 and after 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 consideration and future harmony.

Confusion about Documents. Another common mistake is the belief that the estate planning documentation you have put in place will accomplish specific goals when it does not. You should know what documentation you have, why you have it, and what it accomplishes. Also, you should know how it works in relation to the other steps you take in an effort 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 plan is a common reason why estate plans fail to meet their objectives. There is no such thing as a one-size-fits-all estate plan. You should understand what options are available to you so you can maximize the benefit to your family upon and after your death.

Don’t let your failed estate planning be the horror story people talk about when they get together for coffee. Take the steps necessary to avoid these common mistakes so that things go smoothly after you die.

Tune in to next month’s Brighton Buzz for final installment of the Top 10 Mistakes People Make When Dying, and if you have questions about these issues, you are encouraged to gain more knowledge about available estate planning options, by visiting www.EstatePlansThatWork.com to sign up for a complimentary educational workshop.