How can you avoid the number one estate planning mistake?
Hi. I’m Gary, the owner of DeWitt law. Go to DeWitt.law now to get started.
First, what is the number one estate planning mistake? It is not having a plan. I call this the do nothing plan because nothing has been done.
With the do nothing plan, you leave your fate up to State law. Here is what you can expect:
- State law dictates probate. Your family faces 8 months to a year of expense, stress, and hassles to get it done. You can expect them to spend $4,000 or more.
- State law will decide who gets what, when, how, and how much, not you.
- State law says that your family, even your spouse, can’t make your financial, legal, personal, or healthcare decisions without permission from a Judge or a durable power of attorney. Without a plan, your family faces the expense, time, and hassle of getting permission from a Judge to make your decisions if you can’t. This will cost your family about $3,000.
If you do nothing, then your family can expect to pay at least $7,000 for you and $7,000 for your spouse to make sure everything is taken care of. That’s a minimum of $14,000.
The way to avoid the number one estate planning mistake is to make a plan to avoid the mistake.
You have 2 choices – plan or don’t plan.
Without a plan, you lose control to state law and a Judge. You don’t get control of who gets your estate or who makes the decisions. Your family faces probate and more.
With a plan you control who gets your stuff and who makes decisions if you can’t, not a Judge. You and your family save time and money by avoiding probate and court.
Go to DeWitt.law now to get started.