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3 common omissions during estate planning

On Behalf of | Jun 4, 2022 | Estate Planning |

Putting an estate plan in place is important for your family to secure their future, and for your peace of mind knowing that your wishes are clear. Taking the time now to articulate your wishes is a wonderful way to show your family how much you love them.

However, creating a plan that is incomplete may create more stress than you intend. Here are three common omissions that people make when they are planning their estate.

1. Not discussing your plan with family and friends

Setting expectations now, while folks can understand that your wishes are your own, can alleviate potential arguments after your passing. Discuss your intentions with your spouse, your executor, and potentially your heirs. Hopefully, you can help keep the peace in your family.

2. Omitting a power of attorney and a healthcare representative

Your will outlines your wishes for after you are gone; a power of attorney and healthcare representative can follow your wishes if you are alive, but unable to make decisions for yourself. Do not forget this crucial facet of estate planning.

3. Forgetting your final arrangements

Deciding what kind of funeral, memorial or burial you would like, and putting it in writing, is potentially the greatest gift that you can give your family. While nothing will eliminate the grief they will feel, removing the burden of funeral planning after your death can certainly mitigate some of the stress that death can bring.

Including these three key elements in your estate planning procedure can ensure that you have expressed your final wishes exactly as you want them to be.