Top 10 Estate Planning Mistakes – Number 8

Attorney Dorothy L. Korszen
Dorothy’s practice focuses on trusts and estates, real estate, and business and corporate law.

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 8…Naming the wrong person as fiduciary. When naming a personal representative, trustee, or agent under a power of attorney you are giving great power and responsibility to that person. Your oldest child may or may not be the most qualified fiduciary. With second marriages, you may wish to consider a corporate or professional fiduciary.