Mistakes That Cost You Money and Dignity

Doing Nothing

 

Creating a Plan then Not Funding It

 

Failing to Check Your Beneficiaries At Least Anually

 

I Don’t Need Estate Planning Because I own much less than the federal estate tax exemption

Don’t confuse estate planning with estate tax planning. Estate planning is about making sure your assets will go to the people you want to have them with the least amount of delay and costs. Good estate planning also includes a plan for incapacity. This is something everyone needs to do, regardless of the size of your estate. And while most people are now exempt from federal estate taxes (the exemption is above $5 million), you may need to plan for state death or inheritance taxes, which typically have a much lower exemption.

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