27 Nov
There are many people in Texas who spend a great deal of time planning for their future. As such, they carefully consider how they want their estate divided upon their death and create a plan that explains their wishes. Unfortunately, certain mistakes during the estate planning process can ultimately mean that those wishes are misunderstood or susceptible to a legal challenge.
For example, it may be tempting for some people to undertake the creation of certain aspects of the plan on their own without legal guidance. In fact, the handwritten will of Aretha Franklin was discovered after her death. If authenticated, her estate will go through the probate process. However, as it was unwitnessed, the court could determine that it is not legally binding.
Other potential mistakes involving an estate plan is overlooking the importance of updating it following a major life event. While a plan requires a periodic review and update regardless, it is especially important to do so following a birth, divorce or death of either the trustee or named beneficiary. Another mistake is including language that is unclear; therefore, providing clear language that directly express a person’s intentions can help avoid confusion.
The estate planning process is important to ensure that a person’s wishes — both regarding asset division and financial or medical matters should he or she become incapacitated — are understood and fulfilled. Unfortunately, mistakes made during the process could potentially make an already difficult situation even more complicated. There are experienced professionals in Texas who can help in the creation and review of important documents to ensure that all matters are clear and enforceable, potentially protecting the plan from a successful challenge.
