Friday, July 30, 2010

Ten Common Estate Planning Mistakes

As heard on our radio show on July 31, 2010.

  1. Discounting the importance of your plan. Many people think they only need a “simple will”, Period. Every family requires an attorney who will carefully analyze their situation.
     
  2. Not hiring a “specialist” – letting a general practice attorney handle your estate plan.
     
  3. Thinking that you can break the rules and get away with it – for example, not probating a will or not paying inheritance taxes.
     
  4. Not planning at all.
     
  5. Avoiding dealing with conflict within family that could effect the plan later on.
     
  6. Joint ownership to avoid probate.
     
  7. Using a revocable living trust to avoid taxes. Living trusts do NOT help you avoid taxes.
     
  8. Waiting until you are in poor health to complete your estate plan.
     
  9. Not reviewing your estate plan at least every few years.
     
  10. Assuming “things will work out” or your kids will “do the right thing.”


If you need estate planning assistance, please do not hesitate to give our firm a call at (215) 706-0200 or email us.

Twitter Facebook Digg Delicious Email LinkedIn Stumble Upon

Permanent Link

write a comment




Previous Posts

Five Ways To "Upgrade" Your Estate Plan

Estate Planning & Online Accounts

Reverse Mortgage News

Provision in Will to Kill The Cat Found Invalid

More Information on Reverse Mortgages

Are you getting all of your benefits?

Update Your Estate Plan!

Do You Need Long-Term Care Insurance?

Gifting the House For $1: Good Idea or Not?

Caution: Do-It-Yourself Wills

Blog Categories

Asset Protection

Elder Law

Estate Planning

Estate Planning For Pets

Federal Estate Tax News

Federal Tax

General

Gift Tax

Interesting Cases

IRAs

Last Will & Testament

Life Insurance and ILITs

Medicaid

Medicare and Medigap

New Families

Online Accounts

Pennsylvania Inheritance Tax

Power of Attorney, Advanced Directives, and Living Wills

Probate and Estate Administration

Real Estate

Revocable Living Trusts

Social Security

Social Security

Special Needs Trusts

Tax (State and Federal)

Testamentary Trusts

Blog Links

Archived Posts

2012
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010
December
November
October
September
August
July
June
May
April
March
February
January

The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning, Wills, Trusts, Asset Protection, Special Needs Planning, Powers of Attorney, Will Challenges and Probate/Estate Administration in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem Plymouth Meeting and Furlong in Philadelphia County, Bucks County and Montgomery County.



© 2012 The Law Offices of Jeremy A. Wechsler | Disclaimer
2300 Computer Avenue, Suite H-42A, Willow Grove, PA 19090 | Phone: 215-706-0200
Last Will & Testament | Powers of Attorney | Living Trusts | Probate / Estate Administration | Special Needs Planning | Veterans Pension Benefits | LGBT Planning | Advanced Estate Planning | IRA Protection Trusts | Pet Planning | Elder Law and Long Term Care Planning | Will Challenges | About Us | Resources

FacebookTwitter

Attorney Website Design by
Amicus Creative