${site.data.firmName}${SEMFirmNameAlt}
Contact Us For A Consultation
302-644-7181 Lewes
302-697-4900 Camden

What mistakes could cause problems with your estate plan?

Estate planning is not always an easy process, and decisions that you think are smart now may not work well into the future. For this reason, it is beneficial for you and all Delaware readers to take the time to carefully review existing estate plans for potential problems and mistakes. Uncorrected problems can cost you and your loved ones time, money and significant stress in the future. 

Unfortunately, many people do not take the time to review their estate plans and make adjustments as needed. Whether your estate is quite complex or you have a simple will, it is beneficial to go over your plans every few years to make adjustments. It is smart to consider how you can adjust and improve your plan to make it better for both you and your beneficiaries and family.

Mistakes can have a significant impact

Even the smallest of estate planning mistakes can have a significant impact in the future. One of the biggest mistakes that people make with their plans is the failure to consider how the choices they made originally will impact heirs and beneficiaries down the road. Common missteps that people often make with their estate plans include:

  • Failing to plan for the unexpected, such as deaths in the family, disability and more
  • Improperly handling long-term investments in your will
  • Failing to consider how specific gifts could impact heirs, such as with taxes
  • Forgetting to remove ex-spouses from certain accounts and adding a new spouse
  • Selling property to an heir for one dollar or significantly under value
  • Not considering guardianship issues when leaving assets to a minor 

These are just a few of the ways that people make mistakes with their wills and other estate planning documents. Of course, the biggest mistake is failure to update plans after major life changes or failure to have even a basic will. 

A smart step for anyone 

Estate planning is a smart step for anyone, regardless of income level, the size of the estate and other factors. You have the right to decide what will happen to your hard-earned assets and money, and you can do this by drafting a strong, thoughtful estate plan. 

If you are unsure of where to begin or what you need to complete your plan, it can be helpful to start with a complete evaluation of your case. Discussing your goals and concerns can help you understand what you need to improve your estate plan and avoid issues in the future.

No Comments

Leave a comment
Comment Information

What Our Clients Say About Us…

My wife and I would like to take this opportunity to highly recommend the legal practice of Bonnie Benson and her very professional staff… Bonnie and her staff are organized, engaged in the client's case and they communicate effectively.

Read More
Latest Blogs
Get The Help Now

Need Answers Now? Contact Us Immediately

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

your success. our commitment. elder counsel excellence in elder law  and special needs state bar delaware association

Camden Office
306 East Camden Wyoming Avenue
Camden, DE 19934

Phone: 302-697-4900
Fax: 302-697-4901
Camden Law Office Map

Lewes Office
33718 B Wescoats Road
Lewes, DE 19958

Phone: 302-644-7181
Fax: 302-644-7182
Lewes Law Office Map

We Accept visa mastercard discover network
Review Us