Helene P.Dreyer Koch is an estate planning attorney in Indian Wells, California, focusing on Wills, Trusts and Probate. She is also a skilled legal writer and dynamic public speaker. (760) 360-2400.
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Tag Archives: estate planning mistakes
Top 10 Mistakes People Make in Estate Planning, Wills and Trusts: # 5 – Failure to Follow the Estate Plan
Don’t go through the time and expense of making an estate plan, then fail to follow it! It is an estate plan and, as they say, the best laid plans are only as good as their execution. Failure to follow the estate plan … Continue reading
Top 10 Mistakes People Make in Estate Planning, Wills and Trusts: # 6 – Failure to Coordinate with Beneficiary Designations
People wrongly think that their Will overrides beneficiary forms. This is categorically untrue! An asset carrying a beneficiary designation will not be controlled by your Will (unless the beneficiary is your estate). This includes life insurance, bank accounts, brokerage and … Continue reading
Top 10 Mistakes People Make in Estate Planning, Wills and Trusts: # 7 – Failure to Plan for Incapacity
Planning for Incapacity is easily overlooked for two reasons: (1) most people associate estate planning with death; and (2) thinking about one’s own mortality is discomforting enough — thinking about the possibility of Alzheimer disease, dementia, coma or other mentally … Continue reading
There are several types of tax that may apply when a person dies. Failure to plan for these may result in higher taxes, imposition of penalties or interest, and lost opportunities. Some of these taxes are: Federal & State Income … Continue reading
Failure to inform means failing to let others know important things about your wishes and finances that they will need to know if you die or become incapacitated. Where is your Will? Do you have a trust? Do you have … Continue reading
Top 10 Mistakes People Make in Estate Planning, Wills and Trusts: # 10 – Failure to Plan for Liquidity
Failure to Plan for Liquidity is a common error. This mistake can occur regardless whether you’ve made a Will or estate plan, and even if you have a trust. For example: → You want to keep your vacation home available … Continue reading