Estate planning

When estate planning, don’t let mistakes frustrate your desires

When someone has been training and working in a profession for many years, it becomes very easy for them to assume that everyone else also understands the basics of their field. An auto mechanic might think it is common knowledge that a car’s oil should be changed regularly and what would happen if it did not. The electrician may assume that everyone knows that a proper ground connection is necessary when replacing an outlet or fixture. Unfortunately, estate planning attorneys and financial planning professionals are no different.

It is all too easy to assume that our clients know what we consider basic knowledge about wills – such as what a will is and why it is needed; what happens to your estate after your death if you do not have a will; If the will can help you if you lose your mental capacity; if you can or should write your will; And why do so many people create a revocable living trust in addition to a will.

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