Mistakes that You Can Avoid with Help from An Estate Planning Attorney

Estate planning is not easy, and at the same time, it is confusing to most people, which is why they don’t have a proper estate plan in place. A lot of people think that their assets will be transmitted to the right place after their death, and this is where they make serious estate planning mistakes, leaving their legatees to pact with the aftermath.

Although setting up an estate plan on your own could be a lot tricky and confusing, you can consider taking the help of a professional and certified estate planning attorney in Santa Rosa to formulate the apt estate plan alongside avoiding all possible common mistakes.

You Can Avoid Common Mistakes

Estate planning attorneys are well experienced with planning and creating estate plans alongside updating them from time to time. Therefore, you can consider hiring their professional estate planning services in order to prepare the best possible estate plan; and at the same time, avoid certain common estate planning mistakes.

Now, let’s take a look at some of the general estate planning mistakes that you can easily avoid with the help of an estate planning attorney.

1. Failing to Update an Estate Plan – It is a well–known fact that changes are inescapable in life, and hence, it is imperative for you to update your estate plan in order to avoid slip-ups. You can review and update your estate plan in case of significant changes in your life such as marriage, divorce, birth, or death. You may also consider updating your estate plan whenever there are changes in your job, finances, residence, or your estate planning goals, and this is where an estate planning lawyer can come to your rescue.

2. No Disability Planning – Life is uncertain, which is why it is always a smart move to stay prepared for the unexpected. In case you find yourself with a long–term disability, it would possibly become extremely hard for you to handle your financial and personal affairs. This is where you can use the power of an estate planning attorney to create an appropriate estate plan to take proper care of yourself.

3. Selecting the Wrong Trustee, Executor, or Personal Representative – Most people prefer naming their family member or a trusted friend as their personal representative. However, it is not always the best idea. In case of disagreement among the family members, picking up a more objective third–party makes more sense. Hence, you can consider hiring a professional estate planning lawyer to avoid any confusion or conflicts in selecting the apt executor or representative for your plan.

4. Not Covering the Residuary Clause – It is essential for trusts as well as wills to embrace a residuary clause in addition to specific bequests. A residuary clause not only handles the property that has been overlooked but also handles the bequests that are annulled due to the beneficiary’s death. So, you can avoid the exclusion of a residuary clause from your estate plan with the help of an estate planning attorney.

Well, it’s never too late to get started with the estate planning process, and have your own estate plan in place. For further guidance in formulating or reviewing your estate plan, you can contact Johnston & Associates Law at 707-545-6542 to schedule a session regarding your needs.