Planning is a crucial process undertaken to realize formidable results in any activity we indulge in daily or a life-long process. People plan on having a splendid day, a good year, good retirement, and an exemplary life in general. Therefore, it’s also paramount to inculcate prolific planning in your estate plan to avoid multiple estate planning mistakes and pitfalls to accomplish what you envision while safeguarding your legacy.
Are you formulating your first estate plan ever, or do you want to update an existing one? Don’t look beyond Mountain View Law Group. Our Utah estate planning attorneys will help you design well-crafted estate planning documents and advise you on averting estate plan mistakes from harming your beneficiaries during the estate administration. Keep reading to arm yourself with the necessary estate planning knowledge from Mountain View Law Group.
Common mistakes to avoid regarding estate planning
Not consulting an experienced legal, financial, or tax professional
Do you have complicated assets or doubts about your ability to draft a formidable estate plan? Don’t worry anymore; our estate planning lawyer Utah at Mountain View Law Group will help you with tax planning strategies designed for particular needs and demands of your estate.
Not updating your will.
Many changes occur within a family or business structure, like marriage, death, births, divorce, and acquisition of new property. Therefore, it is crucial to keep your estate plan current and ensure that it captures all your life changes as they sprout up. It’s also instrumental in conducting a general review after every 3-5 years, even if no significant event has occurred.
Choosing the wrong person to handle your estate
Regrettably, the person who you select to become the executor of your estate may not be the best choice, as you thought. For example, sometimes, you may feel that your child or spouse is the best handler of your estate affairs upon your demise. Still, there could be someone else who is not personally invested to objectively handle the extensive duties and demands required of an executor, parent, or guardian.
Not planning for disability.
Any prevailing or unexpected long-term disability, in most cases, has more significant consequences on your personal affairs as well as financial matters. Pivotal decisions such as handling finances, raising your children, or making healthcare decisions on your behalf are incredibly crucial. Therefore, it’s paramount to appoint an Utah estate planning lawyer or formulate a living trust to work on your behalf if you can’t execute yourself.
Let our Utah estate planning attorneys sort out your estate planning affairs today!
Are you ready to set up your estate plan the right way? Then, contact our professional Utah estate planning attorneys at Mountain View Law Group. We provide every personalized approach to legal issues by listening to your story and customizing an estate plan throughout your lifetime.
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