In this Elder Law Minute video series on Common Estate Planning Mistakes, Wes Coulson gives insights into the pitfalls people may land in when estate planning and offers advice on how to avoid these common mistakes.
When we think of Estate Planning, we often think of the documents we put in place for when we die. However, that isn't always the complete story. Sometimes, people suffer illnesses prior to their death that may leave them incapacitated. One of the big common estate planning mistakes is failing to … [Read More ...]
Unfortunately, all too often, the common mistake we see in estate planning is the failure to fund a living trust. Funding is the step in transferring ownership of assets into the living trust. It's not enough to simply have a living trust, if you fail to fund a living trust you risk losing those … [Read More ...]
Common Estate Planning Mistake #13: Failing to make proper provisions for special needs family members
Special Needs family members require and deserve special provisions made for them in a family estate plan. Unfortunately, it is very common for people to either make provisions for them in an incorrect or incomplete way, or worse yet, not provide for them at all. In this Estate Planning Minute, … [Read More ...]
Common Estate Planning Mistake #14: Failing to account for the possibility of outliving your named beneficiaries
We see a lot of situations in which people who are developing an Estate Plan have the idea, “Okay, I want it to go to my children in equal shares.” This sounds like a simple, reasonable and fair request. But, potential problems can arise when they haven’t addressed, “Well, what happens if you … [Read More ...]
Making charitable gifts or bequests to religious or other non-profit organizations is a generous gesture and an excellent way of making a difference. But, there can be a right way to do it and a not so right way to do it, in terms of getting the most of your donation while still preserving your … [Read More ...]
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Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer's Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients' well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.