It was “Mistake Day” on Senior Law Radio! On today’s show I covered many common mistakes people make relating to their estate plan (Will, Trust, etc.) and long-term care planning. Topics are broad and include:
- Adding someone’s name to your deed (sometimes you’ll hear this referred to as a “quit claim deed”)
- Hybrid families (second marriages, step-parents, step-children, etc.)
- How married couples should have their cars titled
- Mistakes you may make when making beneficiary designations, in particular with IRAs and other retirement accounts
- IRA Roth conversion analysis (now much more important because of the new SECURE Act)
- Not updating your estate plan
Keep all of these important issues in mind as you are creating or updating your estate plan or dealing with long-term care issues. Click below to listen. . .