Are You Committing the 7 Major Errors in Estate Planning?

You may be interested in the Forbes article titled “7 Major Errors in Estate Planning.” The article starts with such an interesting quote – “It never fails to amaze me that so many otherwise savvy individuals, many of whom have their financial lives otherwise buttoned-up, use poor judgment (or no judgment) when it comes to their estate planning.” The seven errors listed are a no-nonsense list of the mistakes we see and discuss daily.

1. “Not having a plan.”
2. “Online or DIY rather than professionals.”
3. “Failure to Review Beneficiary Designations and Titling of Assets.”
4. “Failure to Consider the Estate and Gift Tax Consequences of Life Insurance.”
5. Not “Maximizing annual gifts.”
6. “Failure to Take Advantage of the Estate Tax Exemption in 2012.”
7. “Leaving assets outright to Adult Children.”

The full article is available online at http://www.forbes.com/sites/robclarfeld/2012/04/25/7-major-errors-in-estate-planning/

I highly recommend that you take a minute to read the full article.