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 5…Titling property incorrectly. If you wish your other co-owner to own property at your passing, you should check that the title is held as joint tenants with rights of survivorship. Often, if you do not specify otherwise, you will own the property as tenants in common which may require your interest to pass through probate.