Top 5 Estate Planning Mistakes and How to Avoid them | Georgia Estate Planning and Probate

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Smart families make these estate planning mistakes all the time, and they don’t realize it until it’s too late. ‪@siedentopflaw‬

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Siedentopf Law focuses on helping people in the Atlanta, Georgia area plan their estates and wills, probate estates of family members, and work through probate disputes. We strive to make estate planning and probate as easy as possible, providing a concierge experience through traditional office visits, video conferencing, and visits to hospitals and assisted living centers for those who cannot drive themselves.

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Video transcript:
Smart families make these mistakes all the time, and they usually don't realize it until it's too late. Let's talk about the top five mistakes I see over and over as an estate planning attorney, and how you can avoid them. Waiting too long to plan. In 2022, DA Davidson and Company released survey results revealing that only one in three, 34% of American adults have an estate plan. Of those who do have an estate plan, 20% have not updated their plan in the last five years. 72% of women are without an estate plan, compared to 59% of men. When we think of waiting too long to plan, we often think of dying catastrophically before completing a plan, but there can also be disability issues that prevent someone from completing their desired pl an if they're no longer competent but still alive. Choosing the wrong trustee or guardian. This is the person in charge of making sure your plan goes as desired. If you do not pick the right person, things will not happen properly. The right things will not be done, maybe nothing will be done. Choose carefully. Thinking a will avoids probate. Wills go through probate. That is what they do. Trusts avoid probate, but wills make probate easier. It is better to have a will than not have a will, but it is going through probate if your estate plan is based on a will. Not updating your estate plan after major life events. Marriage, kids, all these things. Your estate plan can change, might change based on the relationships between the people you've chosen or who should get what. Make sure it's updated. Not funding your trust. Trusts are like an empty box. They only own and control what's in them. If you did not put it in there with a paper trail, it's not in there. These mistakes are easier to avoid than you think. Hiring an experienced estate planning attorney can save you and your family untold stress and financial hardship. If you want to make sure you aren't making these mistakes, give us a call today or download our free guide. Link below in the description.