Estate planning is an important step for New York readers, no matter a person’s income level or the value of his or her estate. When a person does not have the basic elements of an estate plan in place, such as a will, it can lead to complications. However, with a plan, problems can still arise and cause complications for the family.
Some of the most common reasons resulting in issues with an estate plan and estate litigation is due to mistakes made during planning. Even minor mistakes in a will or improperly drafted documents can make it difficult for a family to administer an estate and follow the instructions outlined in the will. Families or individuals facing potential estate litigation could find benefit in seeking experienced legal guidance from the very beginning.
What mistakes will cause issues in the future?
Of course, one of the most obvious estate planning mistakes that people make is to fail to have an estate plan in the first place. This can cause significant issues in case a person passes unexpectedly or is unable to speak for him or herself due to injury or illness. Other common mistakes that can lead to litigation and other problems include:
- Not including documents that address a possible disability in the future
- Naming the wrong person to administer the estate
- Failing to update the will after major life changes, such as a divorce or remarriage
- Waiting too late to start the estate planning process
- Drafting an estate plan without the assistance of an experienced legal and financial professional
Issues with the estate plan can mean that beneficiaries do not get the full amount they deserve or that a person will not get the medical care he or she wants in case of incapacitation. Many problems may come from estate planning mistakes, and in some cases, it may be necessary for a family or individual to seek legal recourse to resolve the matter.
The right help for estate issues
Disputes over wills, missing estate planning documents and other issues can be complex and overwhelming for a New York family. You know these are complex legal issues, and there could be significant financial implications for you and your loved ones. It may be in your interests to seek guidance regarding the most appropriate course of action for your individual situation. An experienced estate litigation attorney can provide the assistance you need during this time.