Estate planning is a smart step for people of all income levels. It does not matter what you earn or the size of your estate, planning for the future, protecting your assets and planning for the protection of your loved ones is a smart effort. However, some people make mistakes in their estate plan, and the result is complications and problems in the future.
Often, people are not aware of the mistakes and missteps they are making with their estate plans. Errors and mistakes can result in the invalidation of part or all of your will, or it could lead to complications with your beneficiaries. If you have not put a plan in place or you have not reviewed your plan in a while, it can be helpful to learn about common missteps so you can avoid them.