Critical Estate Planning Mistakes You Need to Avoid

Share this episode with a friend:

Today’s Question:

When it comes to leaving behind a financial legacy, not everyone makes it a priority. Those that do, however, need to put an estate plan in place that ensures their assets transfer to the people they choose. Eliminating these common mistakes is an important step in making that happen.


Confidence Corner

If you’re someone that plans to leave behind a financial legacy to family, friends, or charity, it’s important that you take the necessary steps to protect your estate and its assets. There are areas that people often overlook that can impact what’s left behind for your heirs.

On this episode of The Financial Answer, Nathan will take us through four different mistakes we commonly see people make with their estate plan. Sometimes we get busy with life or believe we have time to put things off, and that can end up costing you and your family. Other times, we feel like we’ve made the correct decisions but there could be better options available for your plan.

Don’t worry, each of the mistakes is completely avoidable if you make the necessary preparations. Working with an advisors can help accomplish this as well as correct any past mistakes you’ve made. Hopefully this episode will give you a list of items you should pay closer attention to as you work on your estate plan, but we’re always here to assist as well.

Before we hit our main topic today, we will get Nathan’s reaction to the recent news about a French digital tax that will be applied to large companies. We’ve already seen the market react negatively but what else might come of this?

Listen to the entire episode at the top of the page or click on the timestamps below for a specific topic.

[0:44] – Recapping the Thanksgiving holiday.

[1:28] – In the News: The market dipping some over a French digital tax. Here’s Nathan’s reaction.

[3:57] – Confidence Corner – let’s talk about estate planning mistakes.

[5:36] – We don’t plan for the foreseen expenses – like healthcare.

[7:25] – Here’s how these expenses can really impact your estate.

[8:28] – Update your beneficiary designations upon the ‘Five Ds’

[11:07] – Many people transfer real estate while they’re still alive but that can cause some issues.

[14:49] – We often overlook the tax implications that we’ll leave behind.


A Point Of Wisdom:


Related Content:

PODCAST: What Mistakes Do Bad Investors Make?

PODCAST: Welcome to Retirement! (Now Don’t Screw It Up)


Additional Resources:

Schedule A Meeting

Download Your Retirement Rescue Toolkit – Learn More About Our Firm


Your Guide:

Nathan O’Bryant – Contact

Share this episode with a friend: