Dangers of Do It Yourself Wills and Trusts
Will 1. SignIn a previous post, I discussed An Example of What Can Go Wrong When You Make Your Own Will, as well as an article, Consumer Reports: Write Your Own Will? We tested 3 software products that claim to help you do it. The Florida Supreme Court was recently faced with a similar situation. The deceased used a do-it-yourself Will form. She intended to leave her estate to a brother, but there was a defect in the Will. Because of the defect, her nieces claimed a right to
Name the Right Life Insurance Policy Beneficiary
How Not to Name a Life Insurance Beneficiary In estate planning, there are right ways and wrong ways to designate beneficiaries for your life insurance. Here are some common mistakes people make: Assuming a Will or Trust controls the beneficiary designation. This point cannot be hammered home often enough. Neither your Will nor your Trust will control or “trump” a beneficiary designation made with the insurance company. If you make a designation on the insurance company form