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ARTICLE · 16 JUNE 2023

Common Mistakes When It Comes To Estate Planning

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Wealth management and estate planning go hand in hand.

United StatesWealth Management
Tanya Gierut, CPA
Tanya Gierut, CPA
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Wealth management and estate planning go hand in hand. A well-designed estate plan can help ensure that you share your hard-earned wealth according to your wishes and protect it from creditors and tax liability. As you develop your plan, or review an existing one, be aware of these common mistakes.

Not Funding Your Revocable Trust
A revocable trust is a common tool used in many estate plans. A revocable, or "living" trust, changes the title of how your assets are held. Instead of your home or investments being owned in your individual name, it is retitled and is now owned by your revocable trust. A revocable trust is not necessarily used for future tax savings, but instead it avoids probate, ensures privacy and carries on your wishes after you are gone.

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