Philip Sandler is a Chicago-based attorney who is able to help clients with many issues relating to estate planning. This is a particularly complex area of law, which makes it all the more likely that mistakes will be made by those who aren’t sure about what they are doing. The following are all common blunders that you should avoid when estate planning.
Not Updating Your Will Creating your will is not the most pleasant of experiences but it is crucial if you are to ensure that your estate is divided as you wish it to be. Many fail to recognize that their wills will need to be updated at various points, such as when there are new additions to the family. Make sure you stay on top of this to ensure what you leave behind goes to the people you intend it to. Picking A Poor Executor You need to think very carefully about who you choose to be the executor of your estate as a poor decision can lead to the estate being mismanaged once you have passed away. Consider the objectivity of the executor when you are making your decision. Procrastinating You should start to consider estate planning as early in life as possible to make sure that you stay on top of things. Some realize that an estate plan could benefit them later on in life, which can lead to unfortunate circumstances wherein they don’t get to complete their plans before they pass. Philip Sandler is an attorney who is based in Chicago. Comments are closed.
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