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Estate Tax

The Biggest Estate Planning Mistakes You Can Make

Estate planning is a conscious approach to organizing your personal and financial affairs in order to deal with the possibility of mental incapacity and death. The biggest mistakes you can make in estate planning are to plan improperly, or to fail to plan at all. Without the proper estate planning documents to protect your wealth and wishes, you can lose out on several benefits. Here are the main benefits to having a clearly laid out estate plan:Reducing or eliminating any potential estate tax. Making effective transfers during life and death. Arranging for efficient business succession. Arranging for health care decisions in the event one becomes incapacitated. Allowing an estate to avoid probate, which can be costly and cause delays in asset distribution. Enabling property to pass to the desired person. Planning for the care of and financial well being of children in the event of parental death. Fulfilling charitable intentions . Enabling peace of mind. Giving the gift of clear instr...

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  3. Clearing up taxpayers’ questions

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