Do you know the top five estate planning mistakes? They are leaving poor documentation, not reading (or understanding) your documents, failing to add to your trust, not naming the right successor, and letting your plan become outdated.
Poor documentation hurts your family since they won't know where to look if they need to access your assets.
Not reading your documents means you don't fully understand the in and outs of your asset secession plan.
Failure to add new assets to your trust is problematic as these can go into probate.
Picking the wrong successor means your heirs may not fully benefit. For example, if you have a disabled child, your other adult children may simply be too busy to prioritize their siblings' needs.
Last of all, letting your trust get outdated means your assets may convey to someone whom you no longer wish to support.
