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Anonymous
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 Posted: Sun Dec 23, 2007 2:35 pm Post subject: The Biggest Mistake in Estate Planning |
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Want to know the biggest mistake in estate planning? Here's what Vanguard says about it:
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If someone asked you what the most common mistake is in estate planning, how would you answer? Surprisingly, the number-one mistake is simply not getting around to it at all.
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The article also gives short thoughts on wills, your beneficiaries, your house and other real estate, incapacitation, a durable power of attorney and a medical power of attorney. I know, not exactly pick-me-up sort of reading. Nevertheless, it's a key part of financial planning, vital to protecting those you love, and essential if you want to pass along your assets upon your death.
FYI, Bankrate reports that 57% of consumers do not have a will. Furthermore, 69% of parents with children under the age of 18 are not prepared with a will.
Not a pretty picture.
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