When it comes to estate planning, the decisions you make today can have a ripple effect on your family for generations to come. In How to Avoid the 12 Biggest Estate Planning Mistakes, estate planning attorney John Goralka shares the most common misconceptions his clients have about the estate planning process while offering tips to help you better prepare for whatever the future may hold.
Ask Yourself This Important Question
Are you guilty of believing in any of the “Dirty Dozen” of estate planning mistakes?
- I don’t need to update my living trust.
- I don’t think I need a living trust.
- All living trusts are the same.
- My trustee will be able to step in and handle everything immediately if I’m ill or disabled.
- I have a living trust, so my family will avoid probate.
- My beneficiaries can get their inheritance from my living trust and handle it on their own.
- I have a living trust, so my IRAs and retirement plans are fully protected.
- I have a living trust, so I’m fully protected and don’t need to plan to protect assets from creditors.
- Medi-Cal planning is only for very modest estates. I do not have to worry about Medi-Cal planning because I have a living trust.
- My estate is too small to worry about estate taxes.
- I have a living trust (plus the other planning you recommended), so I’m done.
- I’ll get around to it someday.
If you believe that any of these statements are true, you need this free resource!
Request Your Estate Planning Guide
As a certified specialist in Estate Planning, Trust, and Probate Law by the California State Bar Board of Legal Specialization, John is committed to helping clients understand the steps they must take today to ensure that their assets and their loved ones are fully protected in the years to come. Complete the form below to request your free estate planning guide, then contact our office to schedule a consultation.