Though some Louisiana residents may feel that they can handle creating an estate plan on their own, there is the possibility that errors could be made. Elder law has many facets, and if a will or other estate planning document is not properly created, there is a chance that surviving loved ones could face difficulties in executing the document. There are several mistakes that could lead to such complications.
If individuals create wills on their own, they may think that once the document is created it can be set aside. However, if a will is not updated and revised as necessary, when the time comes to execute the will, there is a chance that some of the details may no longer apply. For example, individuals named as beneficiaries may have died or otherwise become ineligible, but their names are still on the document. As a result, distributing assets could become complicated.
Another mistake that could occur is having a will and a trust that contradict one another. It could be beneficial for some parties to have both a will and trust, especially if they wish to avoid probate. However, if the details of the documents do not line up, there is a chance that delays could take place when it comes to administering the estate.
Facing difficulties relating to an estate is likely among the last things surviving loved ones want to deal with after the death of a family member. Therefore, Louisiana residents may wish to ensure that their estate planning documents are in order. Speaking with experienced elder law attorneys could help interested parties avoid mistakes that could otherwise leave family members dealing with unnecessary complications.
Source: modernmedicine.com, “Estate planning: Don’t make these mistakes”, Joel M. Blau and Ronald J. Paprocki, Dec. 1, 2016