The Wall Street Journal recently published a video on its website titled “Four Estate Planning Mistakes to Avoid” that summarizes some typical mistakes that people make when it comes to planning for a death or a disability. The first mistake is a common one that we hear many times in our practice, which is not planning due to fear. Believe it or not, many people are superstitious about planning for death. People fear that once they get the ball rolling on estate planning, inevitably something bad will happen. Time after time, however, our clients tell us that they have such a sense of relief after they have completed their estate planning. The peace of mind far outweighs the fears involved in beginning the estate planning process.
The remainder of the mistakes involve not understanding how probate works, keeping an eye on estate and gift taxes, and making beneficiary designations without first speaking to a qualified estate planning attorney. To listen to the entire interview, watch the video in the link below (after clicking on the link, the video will start after the commercial has ended).
http://live.wsj.com/video/four-estate-planning-mistakes-to-avoid/F06E8F86-B3BE-42B0-B255-EC12D55A032D.html#!F06E8F86-B3BE-42B0-B255-EC12D55A032D