${site.data.firmName}${SEMFirmNameAlt}
Throughout Southern California
310-324-9403
Toll-Free
866-402-1805
View Our Practice Areas

Avoid These Common Estate Planning Mistakes

Failing to take action or making the wrong moves can be costly for you and your heirs. Here are six blunders experts told us they see most often, and what to do instead.

Estate planning experts have noticed some trends over the years when it comes to making mistakes in one's estate plan. Some mistakes are fairly minor, but others can be very costly to sort out when the estate is being administered.

Recently, Consumer Reports published a list of some of the latter mistakes in an article titled "6 costly estate-planning minefields and how to avoid them."

Their list includes:

  • Thinking you are too young to need a will - Since you cannot accurately predict when you will pass away, you can never be too young to get a will.
  • Putting everything into joint ownerships - When you put property into joint ownership, you give the other owner and his or her creditors equal rights to the property.
  • Forgetting a will doesn't do everything - Many things such as life insurance and retirement plans are not covered by wills.
  • Allowing your legacy to be squandered - Many inheritances are spent quickly if proper safeguards are not in place.
  • Igniting sibling rivalry - Your estate plan should not cause your children to feud.
  • Making things too complicated - You might not need a complex estate plan. You should speak to an attorney about getting the appropriate estate plan for your needs, not necessarily the latest, complex estate plan.

That last bit of advice is likely the most important. Work with an experienced attorney who has seen it all and can help you avoid estate planning pitfalls.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard West
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map
Check out The Law Firm of Kavesh, Minor & Otis on Yelp
Check out Kavesh Minor & Otis on Yelp
Check out The Law Firm of Kavesh, Minor & Otis - Orange on Yelp
Check out The Law Firm of Kavesh Minor & Otis - Pasadena on Yelp