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Simple mistakes could derail your estate planning efforts

You may know that you would greatly benefit from a thorough estate plan, but many in California think that simply having a will is enough. In reality, there are several mistakes and missteps that could not only make things complicated for your beneficiaries but could derail the entire estate planning process.

Fortunately, avoiding mistakes with your estate could be as simple as securing help and guidance along the way. Experienced guidance is an important factor in ensuring that you have the estate plan you need that actually meets your goals and objectives. Many people fail to adjust their plans over time, or they fail to have a will and basic documents drafted. By taking a few simple steps, you can make things easier for your loved ones and give yourself peace of mind.

What mistakes should I work to avoid?

Simply knowing the most common mistakes people make when it comes to their estate plans can help you avoid doing the same. Some of the issues that could complicate the process for your beneficiaries and undermine your estate plan include the following:

  • Failing to make regular updates to your will after life events, such as after the birth of additional children, divorce or remarriage
  • Failing to plan for the potential that you will be disabled at some point and unable to support yourself
  • Failing to carefully consider the individual you wish to oversee and administer your estate
  • Failing to make efforts to reduce the impact of potential estate taxes
  • Failing to transfer life insurance policies to a trust
  • Failing to establish trusts for the care of special needs loved ones, charitable giving and other reasons

Regular evaluations of your current estate plan can help you be certain you have a firm foundation in case the unexpected happens. Life is unpredictable, but with an up-to-date and carefully drafted estate plan in place, you can look to the future with confidence.

Making sure your future is secure

Of course, one the biggest estate planning mistakes you can make is to fail to have one in the first place. You are never too young to plan for the future, and whether you need to draft a will or update an existing plan, you would be wise to take quick action to do so. 

The security of your future is at risk, but you do not have to risk making avoidable mistakes. You can protect your future and that of your loved ones, but the first step may be to seek an evaluation of your case.

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Law Office of Jeffrey B. Pape, P.C.
642 Pollasky Avenue
Suite 100
Clovis, CA 93612

Toll Free: 800-797-5677
Fax: 559-299-0920
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