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Will errors derail your estate plan?

As New Jersey readers know, estate planning is an important step for people of all income levels. No matter the assets you have or how much money you make, it is smart to take steps to make sure your future is not left to chance. You can do this by drafting a strong and thoughtful estate plan, starting with a will.

The benefits of estate planning are significant. However, even the best of intentions may not be enough when there are problems with the documents you have drafted. It is important to ensure that there are no issues with your estate plan and that errors will not derail your planning efforts at some point in the future. 

What types of mistakes could you make?

When it comes to considering your future, your money and what you want to happen to your assets, it can be hard to make those decisions on your own. In order to ensure you do not have to deal with complications due to avoidable mistakes, it is beneficial to have experienced help. This can ensure you do not commit any of the following common estate planning missteps: 

  • If you have a will, this document should change as your life changes. Major life events, such as the death of a spouse or remarriage, merit changing and updating your will. Failing to do this can lead to serious issues.
  • It is important to carefully consider the person you designate to oversee the administration of your estate. Choosing the wrong person can lead to complications and stress for your loved ones in the future.
  • It is a mistake to fail to plan for the possibility of a disability in the future. Life is unpredictable and having the right plans in place can give you security and peace of mind. 

Of course, the most significant mistakes people make when it comes to estate plans are not having a plan in the first place or waiting too long to get the documents drafted. When it is your future interests and those of your loved ones on the line, your prompt action is critical.

Where should you start? 

Estate planning is important, but it is not necessarily an easy process. It would be in your interests to seek guidance as you draft the documents that could have a direct impact on you and your loved ones in the future. If you are unsure of what you should do first, it may be helpful to start with a complete evaluation of your case and assessment of your needs.

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The Law Offices of Gruccio, Pepper, DeSanto & Ruth, P.A.
817 East Landis Avenue
Vineland, New Jersey 08360

Toll Free: 877-760-1031
Fax: (856) 692-4095
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Gruccio, Pepper, DeSanto & Ruth, PA