Vincent, Romeo & Rodriguez, LLC
Denver Metro Office 303-500-5859
Boulder County Office 303-720-7260

Here are a few estate planning mistakes to avoid

Drawing up your estate plan is a major step, and it requires a lot of thought. You need to be thorough yet deliberate when you write up the numerous documents that make up your ultimate estate plan. Despite this incredibly important life decision, there are many people out there who forget to include certain aspects in their estate plan, or they make outright mistakes that cost their family when the estate plan is executed.

So here are a few tips when you are drawing up your estate plan to avoid these missteps:

  • Never assume your finances are "too simple" for an estate plan. The fact of the matter is, any accounts or financial assets are a bit complicated, and they need to be protected in an estate plan.
  • Waiting too long before tackling your estate plan. Many people may incorrectly assume that so long as you write up your estate plan at some point, then you're okay. But that's exactly what's wrong with this line of thinking: what if that point never comes? What if you unexpectedly are disabled or suffer catastrophic consequences that incapacitate you? Getting to your estate plan as early on in your life as you can is the best approach.
  • You have digital assets. Don't forget about these. Your Facebook and Twitter accounts, as well as other online accounts, are all assets and you can dictate what happens to them when you're no longer around.
  • Remember your pet! If you have a dog, a cat, or any pet really, then you can draw up provisions and plans for how that pet is cared for and who assumes responsibility for it.

Source: Forbes, "7 Common Estate-Planning Blunders Not To Make," LearnVest, Sept. 15, 2014

No Comments

Leave a comment
Comment Information

Contact Our Firm

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

Contact Information

Louisville Office
1805 Hwy. 42
Suite 100
Louisville, CO 80027

Phone: 303-720-7260
Fax: 303-604-6052
Louisville Law Office Map

Englewood Office
5460 South Quebec Street
Suite 333
Englewood, CO 80111

Phone: 303-500-5859
Fax: 303-723-8814
Englewood Law Office Map