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Ways to Mess Up Your Estate Plan

#1: Failure to Understand How Your Assets Will Pass On Your Death

#2: Trying to Plan an Estate Around Specific Assets

#3: Failure to Minimize Taxes

#4: Failure to Avoid Probate

#5: Relying on Joint Tenancy to Avoid Probate

#6: Loss of Control by Adding Someone Else’s Name to Your Account

#7: Putting the House (or other assets) in Joint Tenancy with Children

#8: Failure to Make Special Provisions  for a Disabled Beneficiary.

#9: Failure to make Special Provisions for the Spendthrift Child

#10: Trying to “Do It Yourself” 

#11: Failing to Realize That Wills Can Always Be Changed by the Maker

#12: Trying to Leave Property to a Minor Child or Grandchild

#13 Failure to Consider the  Income and Property Tax Aspects of your Assets
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#14: Gifting Highly-Appreciated Assets

#15: Failing to Fund Your Living Trust

#16: Relying on Wills for Estate and Tax Planning

#17: Not Doing a New Estate Plan While a Divorce is Pending

#18: Failure to have Gifting Powers in Your Power of Attorney

#20: Not Having and Estate Plan at All 

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