Ep 14: 5 Critical Estate Planning Mistakes to Avoid

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Not everyone wants to leave a financial legacy behind, but for those that do, it’s important to eliminate the common estate planning mistakes. We’ll identify five key missteps that people make when building and managing an estate plan so that you’ll be able to leave exactly what you want to the people that mean the most to you.


Show Notes and Additional Resources: https://principalpreservationservices.com/5-critical-estate-planning-mistakes-to-avoid/ 


On This Episode:  

1:20 – It’s been a busy but great year.

2:22 – Today our topic is avoiding estate planning mistakes.

2:45 – Mistake 1: Failing to plan for expenses that can be foreseen like healthcare.  

4:30 – Mistake 2: Failing to update beneficiary designations.

6:18 – Which accounts should you be starting with when you go back to update beneficiaries.

7:34 – Mistake 3: Failing to take those steps to avoid conflict among heirs and family members.

11:01 – Mistake 4: Transferring your real estate while you’re still living instead of at death.

13:56 – Mistake 5: Not considering the tax implications of your estate.

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