Estate Planning Pitfalls
An estate plan generally consists of a will and/or trust, a health care directive and a power of attorney. In estate planning, you want to make certain that you are planning for how your assets are managed and your bills are paid during your lifetime, and also planning for the possibility of incapacity or incompetency. As part of putting together an estate plan, it is important that your estate planning goals are not contradicted by other documents that you have completed. Hypothetical #1: Your goal is to have all of your assets being transferred to your children upon your death. Your...
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