For Your Own Good Understanding Michigan Estate Planning

Nov 23 2009Common Estate Planning Mistakes – Part 1

The following is a series of the most common mistakes people make with respect to estate planning:

• Avoid the issue completely. Many individuals find it uncomfortable to deal with their own estate plan because of the underlying issues of death and disability.  Others simply assume that they do not need an estate plan until they reach retirement age.  However, every adult should have some estate plan to cover not only the distribution of assets upon death, but also management of assets during incapacity.  As we all know, death or incapacity can strike at any age.  If you fail to plan for those possibilities, the expense, confusion, and additional stress upon your family or others that you leave behind can be tremendous.