As a resident of Georgia who is currently considering how you want to tackle estate planning, it can feel overwhelming at first. There are plenty of dos and don’ts related to estate planning, but today we will take a look at some of the mistakes you can avoid.
The first mistakes are related to how well you stay on top of your estate planning. Some people never create a plan at all, which is a mistake in and of itself. Others will do things like draft a will and then leave it as-is, no matter how many years pass. You want to ensure that your estate plan is up to date and reflects all of your current desires.
The next mistake is entrusting the wrong person to handle your estate. You may love and trust one specific family member above all others. But do they have what it takes to manage the complex, time-consuming and often stressful process of handling someone else’s estate? Be sure you know they can operate under this pressure before leaving the task to them.
Another mistake is not planning for disability. Your financial and personal affairs can be greatly impacted by a sudden disability, putting your plans into a disarray. Unfortunately, if you don’t have a plan in place beforehand, it might be too late to tackle afterward.
Are you curious to know more about estate planning beyond what mistakes to avoid? If you are, take a look at our web page on the same topic, linked here. You can learn valuable and interesting information for the future.