Estate planning is important to have taken care of for your loved ones. In the event of your death, it will give all those who love you peace of mind knowing that your final wishes are carried out and assets are divided and placed where you’d like them to be. However, there are some things to avoid as you go through this process. We’re here to share some estate planning mistakes for you to avoid:
- Not updating your will. As large life events happen (births, marriages, deaths), it’s important to update your will. To ensure your assets are left where you’d like them, you have to update your will periodically.
- Not planning for disability. Disability has consequences on the individual’s personal and financial affairs. Planning for things such as who will take care of children, handle finances, and make healthcare decisions in the event of disability is essential to estate planning.
- Procrastinating. Estate planning is not only for wealthy individuals with a large family. No matter your situation, you need to be proactive about your estate planning to ensure your loved ones are taken care of in the event of an untimely death.
- Not working with an experienced estate planning attorney. Our estate planning attorneys at Hillyard, Anderson, & Olsen know the ins and outs of Utah and Idaho law. They can help you navigate the often complex laws regarding estate planning and ensure everything goes according to how you’d like it.
Is it time to create or update your estate plan? We can help. Give us a call at 435-752-2610 to schedule your appointment.