Posted on May 14, 2021

Estate Planning Mistakes

Estate planning can be overwhelming. Trying to figure out who is getting what, when you are no longer here or incapacitated is a big deal and should not be taken lightly. That being said, just a little bit of preparation can go a long way. Let’s overview a few of Marc Herbert’s, common estate planning mistakes and see how you can avoid them.

The first mistake is doing nothing or failing to plan at all.

This is the most common mistake and the easiest to avoid. Make sure you have some sort of plan in place, or all of your assets will be divided according to the laws of your state, most of the time this does not match your actual wishes. 

The next mistake is failure to maximize your marital estate exemption.

This one is a bit more confusing and gets into more of the core of estate planning but it can also be solved relatively simply by speaking with an attorney. Depending on your state you and your spouse each get a certain estate tax exemption and most people do not utilize this to the fullest extent. If you are interested in learning more about this, we have a great free report called The Number One Strategy for Avoiding Estate Taxes, and you can download that report here.

Another mistake is not seeking a certified professional.

Again this is a scary thing, and your immediate reaction can be to turn to family and friends for help or advice. While family and friends offer sound advice on many subjects, speaking to someone extremely knowledgeable on this subject is key. Seek out an attorney who is experienced in the estate planning field. You need to make sure you are getting the most out of your estate plan, and the only way to do that is to have a professional on your side.

If you are looking to get advice on estate planning, we can help! To get started with our services, book a Strategic Planning Session today by visiting or calling our office at 978-657-7437.