Three Major Estate Plan Mistakes to Avoid

An estate plan helps designate who will receive your assets in the event of your death. Despite many thinking an estate plan is only for the rich, everyone can benefit from having one. For the first time since 2020, the number of Americans who have a will has declined.

Why are so many choosing not to create one? Nearly 40% of people don't believe they have enough assets to leave anyone. But no matter how wealthy you are, you need a will to protect your loved ones.

While important, an estate plan can be a difficult document to create, leading to potential mistakes that can cost you or your loved ones a lot of money. Estate planning errors can drastically hurt the financial legacy you want to leave behind. Here are some of the big ones:

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