Three Estate Planning Mistakes You Should Avoid
Planning your estate takes courage and commitment. Many people who labor over setting up an estate plan fear the cost, the hassle and the prospect of death itself. Yet estate planning doesn’t have to be that anxiety-inducing task you’ve been meaning to get around to but keep putting off.
At the same time, you shouldn’t underestimate the importance of planning your legacy. Serious decisions need to be made about your life and what will happen to the ones you love if you should die or become incapacitated. As a result, it is imperative that you seek professional help when planning your estate. Consider the following three mistakes you should always avoid:
- Failing to plan for fear of losing control — A common reason people do not begin planning is that they fear losing control over their estates and their assets. A carefully designed plan can provide you with indirect control as well as peace of mind that your family will enjoy your legacy after you are gone.
- Forgetting the little things — Yes, creating a plan for your home, cars, boats and other large property and assets is important, but you cannot forget about the smaller items of value. This includes artwork, jewelry and collectibles. If you fail to name beneficiaries for these items, disputes could arise.
- Creating a plan on your own — We live in an age in which people try to do everything with a keyboard and mouse. Planning your estate is something that you should attempt only with guidance from a skilled attorney.
The three examples above are only a few of the many mistakes people make when planning their estates in Tampa or elsewhere in Florida. By relying on an attorney for support and advice, you can avoid these and other costly mishaps.