Catch of the Day – The Implementation Gap in Estate PlanningSubmitted by Financial Planning Hawaii on January 4th, 2019
Catch of the Day – The Implementation Gap in Estate Planning
A common misconception among consumers is that estate planning begins and ends with the drafting of documents. I routinely counsel clients that drafting wills, trusts, durable powers of attorney, health care directives and the like is only the first step and that proper implementation and periodic updating of the documents is critically important. Mistakes in estate planning implementation are extraordinarily common and the consequences are potentially costly.