As a responsible parent or estate owner, you should plan your estate in good time and do it properly. People who don't plan their estate subject their beneficiaries to a lot of problems. In fact, they may not even receive their share. Everyone wants their assets and estate to be inherited by their preferred beneficiaries. Unfortunately, it may never happen if you don't plan your estate. And even as you plan it, you should involve an estate planning law attorney to help you avoid costly mistakes. People who don't engage an estate planning lawyer when planning their estate are more likely to make the following mistakes.
They May Name Just One Beneficiary
Naming one beneficiary is one of the greatest mistakes anyone can make when planning their estate. Unfortunately, doing so could lead to ugly conflicts and disputes. Some people name one beneficiary for a reason, but it's not always a good idea. Some of the left-out beneficiaries could go to court to challenge your decision. If they prove they are legal heirs, your decision could be overturned, meaning the heir you named won't inherit everything as you intended. You should only name one beneficiary if there are no other beneficiaries. So you should hire an estate planning law attorney because they help you understand the consequences of leaving out some beneficiaries.
They Only Depend on the Will Itself
As you plan your estate, you should be familiar with the various estate planning tools that can work in your situation. Of course, a will is a critical tool, but it's not the only one. People who don't consult or work closely with an estate planning lawyer assume a will is everything. They don't know they can also use other tools to reinforce their wishes. An estate planning lawyer helps you explore other options, like a living trust. They could also create one for you and explain how you could use it together with the will.
They Use Sloppy Writing When Creating Their Estate Plan
Sloppy writing could render your estate plan or will ineffective because it may not effectively communicate your wishes. So you should be careful when writing or drafting an estate plan. Most sloppy writing issues arise when you hastily draft the will or estate plan. In fact, things could even get worse because you might omit some critical details in the process. Moreover, you could also misspell the names of the heirs — something that could later cause serious legal issues. For this reason, let an estate planning lawyer help you write a will to avoid issues that could make it unreliable.
If you need help with an estate plan, contact an estate planning lawyer in your area.
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