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.
- “Not having a plan.”
- “Online or DIY rather than professionals.”
- “Failure to Review Beneficiary Designations and Titling of Assets.”
- “Failure to Consider the Estate and Gift Tax Consequences of Life Insurance.”
- Not “Maximizing annual gifts.”
- “Failure to Take Advantage of the Estate Tax Exemption in 2012.”
- “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.
