Estate planning is one of the most important things you will do in your lifetime. Your estate plan will help ensure that you and your loved ones are cared for in the future. As a result, it is important to avoid making the following mistakes:
- Failing to plan for incapacitation: Nobody expects to become incapacitated. Additionally, it is a difficult subject to think about. As a result, many people put off this aspect of estate planning. But, planning for this outcome will ensure that you will have someone you trust helping make decisions on your behalf in the event that you are no longer able to do so.
- Trying to create your own will: Since there are so many free online will-writing options at your disposal, it can be tempting to save the money and hassle of hiring an attorney. But, when you try and create these documents on your own, you very often open yourself up to various potential legal pitfalls, which will only hurt you and your family in the long run.
- Not creating a will at all: This is one of the biggest mistakes an individual can make. When you fail to create a will, you will likely cause your family to lose out on a significant amount of the assets you own. Dying without a will means your assets will be distributed by the state of California. This can lead to undue stress and legal trouble for your loved ones during what should be a time of mourning.
- Failing to revisit and update your estate plan: When you create an estate plan, it can be easy to put it aside and forget about it. But, it is important that you continue to update it throughout the years. As your life changes, your estate plan should change as well. Some reasons to update your estate plan include marriage, divorce, the birth/adoption of a child, the death of a loved one included in the will, and so on.
If you have any questions or concerns, contact our firm today. Estate planning can be stressful, but we are here to walk you through the process each step of the way. Reach out to speak with an experienced and knowledgeable attorney.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.