Thursday, September 17, 2020
The best way to estate plan is to plan from strategies built and expanded on over time.
Below are 5 common misconceptions of estate planning.
1. An estate plan should be based solely on tax mitigation
2. I should leave everything to my children
3. My children are so very different but to be fair, I must be equitable with my estate plan
4. I will set up a trust. That will take care of everything.
5. My estate advisers have my best interests in mind, and they are working together for me as a team.
See Christopher D. Wright, JD, CPA, 5 Unfortunate Estate Planning Myths You Probably Believe, Kiplinger, September 17, 2020.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.