A will must hold relevant information to streamline the probate process after a person’s death. Beneficiaries, inheritance plans, property division and other asset information needs to accurately reflect a person’s long-term planning. Major milestones and changes in financial holdings may prompt an update to your will throughout your lifetime.
3. Using template wills for complex estates
It may seem appealing to use a generic will template in creating an estate plan, but this is one of the most common errors in estate planning for individuals with complex estates. There’s no one size fits all estate plan for all individuals. Careful planning and expertise are essential to ensuring proper execution of an estate after a person’s death.
Don’t cut corners in planning for the long-term future of your estate and family needs. Avoid these and other common mistakes by consulting legal and financial experts to craft the correct estate plan for your circumstances.
