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Major Mistakes In Estate Planning

Writer: Michele LumMichele Lum

Updated: Mar 1, 2023

Avoiding common pitfalls and errors in estate planning is critical! After all, you don't want to spend all that time developing a plan to protect your loved ones only to have it riddled with errors that cause them stress and headaches in the end.




So, what are the major mistakes?


Falling to PLAN (and there is a saying that this means, you are planning to fail)




Not discussing about your plans with ANYONE (nobody knows what how you wanted your estate distributed)




Naming just ONE beneficiary (what is the beneficiary dies before you?)




Not legalising your will/ estate planning documents (anyone can challenge a random handwritten will)




Did not inform or include tax consideration (this is where the Inland Revenue Board is entitled to freeze the assets until further investigation)


Did not plan for young children's future (they may be to young or you may have specified certain terms that forbids them from assessing the assets)



Not listing out all your assets in advance (now, how would anyone know that you have a Bitcoin account - for example....)




遗产规划的主要错误


避免遗产规划中的常见陷阱和错误至关重要!毕竟,您不想花费所有时间来制定保护您所爱之人的计划,结果却让计划充满错误,最终导致他们感到压力和头痛。


那么,主要的错误是什么?


  • 没有计划(俗话说,这意味着你在计划失败)

  • 不与任何人讨论您的计划(没有人知道您希望如何分配您的财产)

  • 只指定一个受益人(受益人在您之前去世的是什么?)

  • 没有使您的遗嘱/遗产规划文件合法化(任何人都可以质疑随机手写的遗嘱)

  • 没有告知或包括税收考虑(这是税务局有权冻结资产直到进一步调查的地方)

  • 没有为年幼孩子的未来做计划(他们可能年幼,或者您可能指定了某些条款禁止他们评估资产)

  • 没有提前列出你所有的资产(现在,怎么会有人知道你有一个比特币账户——例如……)

 
 
 

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