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Trust Mistakes to Avoid
Top 10 Common Trust Mistakes are:
- Putting it off and "waiting to do it right"
- Failing to create all documents
- Failing to transfer assets
- Failing to record the deed
- Failing to deliver a Bank Account Directive
- Failing to create a Health Care Directive to Physicians
- Forgetting a Health Care Durable Power of Attorney
- Failing to create a Financial Power of Attorney
- Selecting the wrong trustee
- Believing a Will really "Will" happen as planned
10 More Common Trust Mistakes:
- Forgetting to create Guardianship
- Forgetting to create a Pet Care Directive
- Creating a Trust without a Pourover Will
- Forgetting to transfer vehicles
- Forgetting to transfer stock
- Believing your standard trust can really protect assets
- No Plan for care and expenses during emergencies
- No Plan for assisted living or long term convalescent care
- Keeping documents safe instead of available to the right people
- Forgetting to name the trust as beneficiary on insurance, CDs, and retirement
More Trust Mistakes:
- Selecting "revocable" or "irrevocable" language correctly
- Allowing your forced and unnecessary "rest home" transfer
- Allowing your premature (or unnecessary) "Declaration of Incompetency"
- Allowing public disclosure of private information used in identity fraud
- Transferring title upon death (thereby unprotecting assets and maybe a tax)
- Allowing the divorce of an in-law to have valid claims on your estate
- Allowing emergencies to force property to be sold to pay taxes, creditors, or heirs
- Creating transfer taxes or believing you can evade taxes
- Many more common trust mistakes... 93% of the time!
See more...
- 10 Good Reasons for Trusts
- Planning Before Marriage
- Multiple Beneficiaries from Multiple Marriages
- Picking a Trustee
- Reviewing The Trust Plan
- Reviewing Wills & Trusts
- What Happens Without a Trust
- Mistakes to Avoid
- Get a Private Asset Protection Trust Quote
The Protection Book for Planning, Protection, Privacy!
Copyright © 1995 -
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