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Make estate-planning count by avoiding these mistakes

Many people are proactive when it comes to preparing for the future, however not everyone takes the proper steps to get their affairs in order before it’s too late. Proper estate planning in Hudson County can help a person and his or her family be prepared for an unexpected death or permanent disability. However, knowing the necessary steps to plan for your estate correctly is the key to success.

There are several steps one should take in order to get one’s estate planning right. Failure to remember some or all of these steps can cause problems for a person’s beneficiaries after he or she dies. When planning for one’s estate, a person should make sure to do the following things. First, it’s a smart idea to make sure that one not only fills out all the proper documents, but that his or her family and/or attorney have access to all the those documents so they can carry out one’s wishes properly.

A person should also be sure that he or she labels his or her assets clearly and correctly. If someone is going to leave assets to minors, then it is always a good idea to leave those assets in a trust. A person should also be aware of all the different state laws and requirements when he or she is planning his or her estate, as well as a state’s inheritance taxes. Lastly, one should properly track beneficiary designations and use no-contest clauses properly, as well.

 Planning for the future can be difficult, but it’s something that most everyone should consider; getting the right help can make a big difference. Coming up with the best estate plan can be made easier if a person speaks with an experienced estate-planning lawyer.

Source: Life Health Pro, “10 steps for avoiding estate planning mistakes,” Ed McCarthy, June 6, 2013

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Kearny, NJ 07032-3010
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