Hey there! It’s your favorite attorney here, and I’ve got some wisdom to drop. Estate planning may not be the sexiest topic out there, but it’s a crucial part of adulting. Whether you’re a young professional or a seasoned retiree, you need to make sure your estate plan is in order. And that means avoiding these top 10 estate planning mistakes:

  1. Not having an estate plan at all. Come on, people. This is Estate Planning 101.
  2. Not updating your estate plan after major life events, like a divorce, the birth of a child or the death of a loved one.
  3. Forgetting to fund your trust. A trust is only as good as the assets you put into it.
  4. Not having a plan for digital assets. Your Facebook account may not have any sentimental value, but your family may still want access to it after you’re gone.
  5. Naming the wrong beneficiaries. Triple-check your IRA, 401(k), and life insurance policies.
  6. Not considering taxes. Estate taxes can eat up a big chunk of your assets if you’re not careful.
  7. Failing to coordinate your estate plan with your overall financial plan.
  8. Choosing the wrong executor or trustee. This person will have a lot of power, so choose wisely.
  9. Not planning for incapacity. Who will make medical decisions for you if you cannot make them yourself?
  10. DIY-ing your estate plan. There’s a reason we went to law school, folks.

Now, I know what you’re thinking. “But Jennifer, how do I make sure I’m not making these mistakes?” Simple. Work with an experienced estate planning attorney who can help you create a plan that meets your unique needs…and that’s where Norton Estate Planning & Elder Law comes in! We’ll work with you to create an estate plan that’s tailored to your goals and desires. So stay sassy and classy, and contact us today to get started!