{"id":10345,"date":"2016-07-10T13:46:31","date_gmt":"2016-07-10T13:46:31","guid":{"rendered":"http:\/\/www.tampabaylawgroup.com\/?p=10345"},"modified":"2016-07-10T13:46:31","modified_gmt":"2016-07-10T13:46:31","slug":"estate-planning-estate-planning-mistakes-to-avoid","status":"publish","type":"post","link":"https:\/\/themediabeast.com\/resources\/estate-planning-estate-planning-mistakes-to-avoid\/","title":{"rendered":"Estate Planning &#124; Estate Planning Mistakes to Avoid"},"content":{"rendered":"<h2>Estate Planning | Estate Planning Mistakes to Avoid<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.tampabaylawgroup.com\/special-needs-planning\/\">Estate Planning |<\/a>\u00a0There are certain mistakes that should always be avoided during estate planning. The section\u00a0below talks about those mistakes and explains hat should be done instead.<\/p>\n<p>Failure in thinking from all perspectives:<\/p>\n<p>Sometimes, people get so engrossed in a specific planning approach, that they avoid looking at\u00a0the bigger picture. It\u2019s the duty of the advisors to explain some \u201cwhat if\u201d circumstances to their\u00a0clients; this would allow them (the clients) to be prepared for potential scenarios.<\/p>\n<p>For instance, when preparing an estate plan, some people don\u2019t consider the fact that they\u00a0could possibly get divorced in the future. The correct way of approaching the process, would be\u00a0to take the possibility of getting divorced into account, and placing restrictions on the wealth\u00a0being allocated outside the family.<\/p>\n<p>Forgetting the pets:<\/p>\n<p>Pets might be the most prized possessions in their owners\u2019 lives. Often, though, people forget to\u00a0take them into account when getting an estate plan ready. As a result, if the owners die, pets\u00a0don\u2019t have anyone to look after them. To prevent a situation like that from happening, one\u00a0should always establish a pet trust.<\/p>\n<p>Failure in updating all documents:<\/p>\n<p>If the advisor fails to re-title or update other documents of the client, (the client) might not get the\u00a0benefits that are offered by the estate planning documents. So, to maintain clarity, it\u2019s extremely\u00a0important to ensure that the concerned person re-titles his\/her assets in the trust\u2019s name. In\u00a0addition, regular checking of retirement documents is necessary, for making sure that the\u00a0beneficiary designations on them have been kept up-to- date.<\/p>\n<p>Not considering digital assets:<\/p>\n<p>When someone dies, his\/her heirs often struggle to get access to the person\u2019s passwords. This\u00a0stops the heirs from getting hold of the dead individual\u2019s digital assets. To prevent such issues,\u00a0every individual should prepare a list of passwords and usernames, to ensure that a trustee or\u00a0more trustworthy family members, have access to the list.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Don\u2019t wait! We can assist you with all of your estate planning legal needs. Call to schedule an appointment with one of the top estate planning attorneys Tampa has to offer! <a href=\"http:\/\/www.tampabaylawgroup.com\/estate-planning\/\">Tampa office<\/a> at 813-367-1500 or\u00a0send us your questions online.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Estate Planning | Estate Planning Mistakes to Avoid &nbsp; &nbsp; Estate Planning |\u00a0There are certain mistakes that should always be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","footnotes":""},"categories":[858],"tags":[859],"class_list":["post-10345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-planning","tag-estate-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Estate Planning &#124; 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