There are a number of common types of estate planning errors. One of the most widespread errors is the failure to update a person’s estate planning documents. As a result, even if you have written estate planning documents, there are numerous events that can arise that interrupt with your plans and require the revisions of these documents. This article reviews some of the most common signs about which people with estate plans should be aware.
# 1 – Executors Become Inappropriate
Executors refer to the individuals that are tasked with implementing an estate plan. Many people appoint executors without thinking carefully about whether the assigned person is able to perform successfully. Unfortunately, circumstances occur that make it no longer necessary to appoint a person as an executor. In these situations, it is critical to consider the individuals that are appointed in your estate plan and whether they are able to successfully carry your goals.