Discover Top 10 Estate Planning Mistakes Celebrity’s Make – and the trick to prevent you from making them.

TOP 10 Estate Planning MISTAKES

Celebrity's Make

(and the trick to prevent you from making them)

I've seen it all with baby boomer clients – men and women. Some clients have said that they've been "meaning to get around to it.". Which I respond with "we can wait until your dead then i'll make more money!!" Of course, my intention is not to make more money or I would just advise clients to set up a Will and be done with it. But that's not how this works. I want to protect your asset from the evil doers of the world. The Evil Sisters and family members who like to take advantage of less-abled siblings and family members by stealing away their inheritance. To some it may just be making sure they get Mom's China Set in the kitchen.

 

Anyhow, here are the Top 10 Estate Planning Mistakes baby boomer clients make – and how to fix it'.

1.    Waiting to get their Estate Plan set-up before it's too late. (when you're dead it's very difficult to sign documents)

2.    Listening to a financial advisor give Estate Planning advice.

3.    Creating joint bank accounts with your kids and/or loved ones and not indicating in your estate plan your intent.

4.    Not properly transferring assets into your Trust (when it's created of course).

5.    Being too cheap on your Estate Plan and thinking it will work when you want it to.

6.    Not listening to your children or loved ones when they tell you to make sure you have a plan in place.

7.    Not reading enough about the process and what can happen.

8.    Relying on hospitals for your medical healthcares directives .

9.    Not loving your minor kids enough to plan for them not to be in a FOSTER CARE HOME WHEN YOU DIE.

10.    Disinformation – ie. Relying on newsmakers who are really financial advisors but giving incorrect legal advice. (ie. Suzie Orman)

 

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