Mistake #4. Not Getting the Professional Help
While it is true that most estate plans are simple, it is best to let a specialist who has the time and knowledge of the ongoing changes of tax laws to maintain and update your will.
Potential negative consequences:
If a will was made without a professional help and left some important aspects out, for example, only grant medical power of attorney but not financial power of attorney to a child, when the person suffers a major stroke and put into a medically induced coma and unable to make medical and financial decisions, that child could step in and make the medical decision, but without a financial power of attorney, the child would be powerless to pay any bills - utility, mortgage, medical bills, etc.
We will discuss the last common estate planning mistake next time.