Avoid these mistakes during your estate planning efforts

Our team of estate planning attorneys have served Florida residents for many years. During that time, we have learned that creating an effective estate plan requires that we develop a partnership with our clients. This is beneficial for many reasons. In particular, it allows us to make certain that your unique needs are met.

Not everyone has the same requirements during estate planning. What works well for some families may leave others with gaps or deficiencies that render their estate plan less effective. If we had to identify a common denominator shared by many Melbourne residents, it is that mistakes can occur quite often during the process of estate planning. Three of these mistakes include:

1. Failure to include a will: Even though you may have several legal documents in your plan, it is wise to have a will as well. A will empowers you to name guardians for your kids and to assign a trusted individual to manage your property, assets and liabilities.
2. Failure to keep accurate records: When you pass away, your family and estate executor need access to records that are accurate and current. Failing to keep these records together in one place that at least one person knows about is also a mistake.
3. Failure to update your plan as necessary: Anytime you experience significant life changes, it is important to reflect these changes in your estate plan. Examples of these changes include getting divorced or married and having children or grandchildren.

We understand that proper estate planning seems complicated, but it doesn’t have to be that way. When you familiarize yourself with the basics, you will be better able to understand the process and make decisions that fill your needs.

Please, continue studying the information we offer on our website if you need to learn more about estate planning.