There’s no denying estate planning can be a tricky process. There is much to consider and so many legal requirements to meet a few things can understandably be lost in the shuffle. However, you don’t want to make a mistake so big you have to start over or worse, force your loved ones to sort through the mess once you’re gone. Whether you’re in the midst of working with an estate planning attorney in St. Petersburg, FL, or are considering making a few adjustments to your will, it never hurts to watch out for these common estate planning blunders.
Ignoring the Issue
The most frequent mistake witnessed by practically every estate planning attorney in St. Petersburg, FL, involves people who refuse to acknowledge their need for a will. They may put it off because they’re in great physical health at the moment or because they are too busy with their day-to-day lives. In many cases, the mere thought of their eventual death scares them and so does planning out their will. However, doing so is important because it easily and quickly clears up the loose ends left hanging after a death. Each of your loved ones will know your wishes and can carry them out accordingly.
Failing to Include Residuaries
There’s one important part of a will that’s called a residuary clause. Some people either have assets they didn’t know they had rights to or forget to divide the smaller parts of their estate to loved ones. The residuary clause takes care of all the minutiae.
Being Vague With Your Assets
Some will authors get a little too grandiose when it comes to bestowing loved ones with their assets. Others don’t leave enough of a plan, creating confusion and conflict once they have died because no one knows what goes to who. Be concise in your will so your estate planning attorney and loved ones know exactly what you expect and want.
You can find a great estate planning attorney in St. Petersburg, FL, Get in touch by calling 123-456-6789 or visiting their website.
