The Most Common Oversights in Estate Planning
Don't hinder your tomorrow by mistakes made today!
Get advice from an experienced Torrance estate planning lawyer.
From the first decision to the last, the success of your estate plan depends
on the correct execution of many different factors. Those who choose to
go without legal representation quickly discover why retaining an attorney
is so helpful. There is a lot at stake with your estate plan and now is
the time to perfect the details.
Torrance estate planning lawyers at our firm place a high value on efficiency and perseverance. We'll
navigate you toward a plan
you feel comfortable with and provide personalized assistance every step of the way.
What pitfalls do I need to be aware of?
Estate planning has a lot of moving parts, so it's only natural that
oversights happen. The best way to avoid these oversights is to maintain
a constant awareness of the most common ones.
These four oversights should be avoided at all costs:
Failing to plan: Nobody likes to think about life after they're gone, but getting
the hard decisions out of the way allows you to enjoy the days you have
left. Failing to create an estate plan at all does a disservice to your
family and can put everything you've worked for at risk.
Ignoring tax apportionment clauses: If you don't designate which assets your state and federal estate
taxes will come out of, it can lead to some messy situations. Always specify
the details of your taxes.
probate and non-probate assets: Confusing these two very different types of assets may negate your will
or cause your assets to go to someone you never intended.
Foregoing a trust: Many people choose to leave assets to their beneficiaries right away,
but this can become a recipe for disaster. Using a trust allows you to
choose when the beneficiaries receive their assets.
Call our Torrance estate planning attorneys for assistance today!
At first glance, an estate plan appears extremely daunting and complex. There
is a lot to consider but with our attorneys on your side, you're never
alone. We pride ourselves on offering client-centered strategies that
The Law Offices of James C. Shields has a thorough understanding of estate
planning unmatched by many other firms. Schedule your
free consultation to take advantage of our expertise.