“Most estate planning mistakes tend to be fall into one of several categories. Every estate plan has unique features, but the same problems and mistakes recur. Many mistakes don’t vary with the value of an estate and other factors. Each of the classic mistakes is avoidable. All that’s needed is knowledge of what to beware of and a little time working with your planner.

Not understanding the plan. Many people, even the sophisticated and wealthy, become passive in the presence of an estate planner. They rely on the planner to make sure everything in the plan is what they need and is done properly. It’s not unusual for a person to sign the documents and say to the attorney, “I don’t really know what I just signed.” A few years back a survey of estate planning attorneys reported that the attorneys said they believed a high percentage of the plans they prepared weren’t fully implemented, and that the major reason for failure to implement is the clients didn’t understand the plans or what they needed to do after leaving the office.”

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Source Credit:  https://www.forbes.com/sites/bobcarlson/2018/04/20/avoiding-7-deadly-estate-planning-mistakes/#7d9364461602


Estate Planning Practice

Estate planning is concerned with the use, conservation and disposition of a person’s property and wealth. The Marsalese Law Group offers expert advice in the areas of estate planning and trust administration. Our estate planning experience is sought by closely held businesses, families and individuals. Entrepreneurs frequently retain our services to coordinate personal, business and estate planning and deal with financial issues in ways that benefit both the family and the business.

The Marsalese Law Group has an active and sophisticated trusts and estates expertise in the handling of all types of estate planning matters, with emphasis on last wills and testaments, revocable and irrevocable trusts, life insurance trusts, special needs trusts, qualified personal residence trusts, family limited partnerships, durable powers of attorney, advance medical directives, and other related estate planning documents.

The Marsalese Law Group also advises clients on other common planning matters include lifetime gift programs, charitable split interest trusts, off-shore trusts, private foundations, grantor retained annuity trusts, generation-skipping transfer tax planning, and life insurance planning, including irrevocable life insurance trusts and split dollar arrangements.

For more on Estate Planning by Marsalese Law Group, click HERE

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