![if gte IE 9]><![endif]><![if gte IE 9]><![endif]><![if gte IE 9]><![endif]><![if gte IE 9]><![endif]><![if gte IE 9]><![endif]>
Not a Lexis+ subscriber? Try it out for free.
LexisNexis® CLE On-Demand features premium content from partners like American Law Institute Continuing Legal Education and Pozner & Dodd. Choose from a broad listing of topics suited for law firms, corporate legal departments, and government entities. Individual courses and subscriptions available.
This recent Forbes article 7 Major Errors In Estate Planning is a must read for everyone, and most errors discussed apply to those with estates below $1 million. Items 1 through 3 apply to virtually everyone, while those with large insurance policies, particularly couples with young children, need to consider item 4. Number 7 is something most do without thinking about the potential consequences down the road. I have even asked my parents not to leave their estates outright to me. I would rather have their legacies protected in a carefully drafted trust that I control.
If you have made any of these big mistakes, it's time to visit an estate planning attorney for advice and possibly a new estate plan:
1. "Not having a plan." 2. "Online or DIY rather than professionals." 3. "Failure to Review Beneficiary Designations and Titling of Assets." 4. "Failure to Consider the Estate and Gift Tax Consequences of Life Insurance." 5. Not "Maximizing annual gifts." 6. "Failure to Take Advantage of the Estate Tax Exemption in 2012." 7. "Leaving assets outright to Adult Children."
While this list is a great start, it certainly doesn't cover all of the issues that should be considered in crafting a comprehensive estate plan.
Herman-Giddens, JD, LLM, TEP, CFP, Attorney at Law (NC, FL, TN),
Board Certified Specialist in Estate Planning and Probate Law (NC). North
Carolina Registered Guardian, Solicitor, England and Wales. Follow
his blog, North Carolina Estate
. . . .
Explore the LEXIS.com Estates, Gifts & Trusts and Elder Law resources
Discover the features and benefits of LexisNexis® Tax Center
For more information about LexisNexis products and
solutions connect with us through our corporate