You have finally signed your wills, trusts, powers of attorney, and took a sigh of relief that your estate plans are finally in order. But are you finished for good, or did you only take an important step in a longer process? Check back here everyday for the Top 10 Estate Planning Mistakes that can occur even in the best laid estate plans.
Number 3…Right documents, wrong beneficiaries. Time passes; your will, trust, or life insurance policy names beneficiaries who have predeceased you. You should review your beneficiary designation forms on a regular basis to make sure you still name the correct primary and contingent beneficiaries.