5 Common Estate Planning Mistakes and How to Avoid Them

 

Since estate planning involves thinking about death, many people put it off until their senior years or simply ignore it all together until it becomes too late. This kind of unwillingness to face or plan for reality can create major hardship, expense, and mess for the loved ones and assets you leave behind.

 

While not having any estate plan is the biggest estate planning blunder you can make, even those who do create a plan can run into trouble if they don’t understand exactly how estate...

Don’t Let Your Elderly Parents Become Victims of the Grandparent Scam

 

Imagine this… You are an elderly grandparent who lives alone.

You get a call in the middle of the night from your college-aged granddaughter. She’s frantic and crying, telling you she was mistakenly arrested while vacationing in Cancun.

 

She says she needs you to pay her $1,800 bond, or she’ll be transferred to a dangerous Mexican prison. The Mexican police told her she only has a few hours before she’s transferred, so she needs you to wire the money...

Use Estate Planning to Ensure Your Family Isn’t Stuck Paying For Your Funeral

 

With the cost of a funeral averaging $7,000 and steadily increasing each year, every estate plan should include enough money to cover this final expense. Yet it isn’t enough to simply set aside money in your will.

 

Your family won’t be able to access money left in a will until your estate goes through probate, which can last months or even years. Since most funeral providers require full payment upfront, this means your family will likely have to cover your funeral...

Pages