Check out this interesting article about Estate Planning mistakes to avoid by finance writer Michele Lerner.
Estate Planning Nightmares
- Michele Lerner has been writing about finance for 20 years
- Her recent article is a great overview of what can go wrong with estate administration, probate, siblings who don’t get along and powers of attorney
- Take the time to read Michele’s finance column if you haven’t already
- You might learn something about family money, dealing with inheritances and poor planning; otherwise, you might not know if the sun is rising or setting on your finances and inheritances
- The truth is that a little bit….a little bit…. of time and a few bucks can get your estate plan super charged, ready, and set to go. Spend the time now so that your heirs and family members spend less mony on estate litigators down the line
- If you leaving different amounts of inheritances to different heirs, you should know if there will be a squabble when you are gone.
- Do you want estate litigators to be beneficiaries of your estate? No. So, why not try to anticipate problems now?
Here is the link to the online article on estate planning mistakes: http://www.dailyfinance.com/2014/08/20/avoid-estate-planning-nightmares/
Here is the link to read more about Michele Lerner: http://www.dailyfinance.com/writers/michele-lerner/
Here is the .pdf of an executive summary of a study on family wealth by Fidelity Investments which Michele Lerner cited in her recent estate planning article: