Written by Christopher W. Dumm, The Law Office of Christopher W. Dumm
In the first installment of this two-part series, we talked about how, in addition to being a tool for handling asset distribution at the end of your life, a properly executed estate plan also protects your health and finances while you are living. Further, it was pointed out that an estate plan provides the scaffolding for building a family business succession plan and is a crucial part of preparing for possible long-term care needs. The versatility of estate planning also means that the process is thick with pitfalls, however.
The first five most common estate planning mistakes were covered in the first installment of this series, which can be found here. The next five are presented in the second part of the series, which you can read here.