• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Wilcox Attorneys, PA

Wilcox Attorneys, PA an Arkansas Estate Planning & Trust Information Center

Northwest Arkansas Estate Planning Attorneys (479) 443-0062

Client Vault
  • Home
  • Our Firm
    • Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Speaker Connection
  • services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Secure Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Probate
      • Trust Administration & Probate
    • Newsletters
    • Pre Consultation Form
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

Estate Planning Mistakes You Can’t Ignore

April 8, 2013 by Deb Sexton Leave a Comment

Creating an estate plan is essential, you already know that. But, there are times when individuals make errors that can impact their estate and their loved ones. Before you consider yourself “settled”, make sure you haven’t committed these crucial errors.

1. Procrastination – Too many people procrastinate when it comes to estate planning. Whether they put off creating one in general or they put off maintaining it, all equal trouble down the road. Stay on top of your estate plan and if you don’t have one, visit an estate planning attorney to get one.

2. Guardian Selections – When you select a guardian, you may have not taken the time to consider your selection. Perhaps you’re no longer friends with the guardian you selected or they’ve moved to another state and you’d prefer a guardian in your current area. Review your estate plan and make sure your guardian designations still apply.

3. Altering Beneficiaries – When you sign up for a 401(k) or IRA, you are prompted to select a beneficiary. When you create an estate plan, you’re also prompted to select beneficiaries. If the beneficiaries on your retirement accounts don’t match your estate plan, your accounts win. That means your spouse or children may not receive your retirement benefits. So, make sure your beneficiaries match up.

4. Your Healthcare Proxy Doesn’t Agree with Your Decisions – When you create a healthcare directive, you select a proxy. This person makes medical decisions on your behalf, but if they don’t agree with your decisions, they may not carry them out. Make sure the healthcare proxy you have selected agrees with your medical decisions and will follow them.

5. Inadequate Life Insurance – Most people have inadequate life insurance to cover their expenses. Take a look at your policy and consider increasing your coverage — especially if you signed up when you were single.

  • Author
  • Recent Posts
Deb Sexton
Latest posts by Deb Sexton (see all)
  • Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
  • Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
  • The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wilcox Attorneys, PA

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Subscribe to Our Blog

Subscribe to our blog for all the latest estate planning news and updates!

Office Address

Fayetteville
2766 Millennium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

( By Appointment Only )

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.