In these uncertain times, find peace of mind knowing that your personal affairs are in order.
Law Firm Of

Erik C. Paulsen, LLC.

Erik C. Paulsen is a frequent estate planning lecturer from the law firm of Erik C. Paulsen, LLC, a firm which has concentrated on Wills, Trusts, and other estate planning techniques for over 28 years.

Free Initial Consultations

Planning your estate involves difficult decisions about private matters related to the disbursement of property and assets. Erik Paulsen will work closely with you to develop an estate plan that will address your concerns, which may include:

  • Disposition of your estate
  • Asset protection, asset management & the division of assets
  • Health care decisions
  • Tax considerations
Download the seminar handout

The six most common estate planning mistakes made are:

#1: Not Having an Estate Plan

This is the #1 common estate planning mistake. However, death is inevitable. With careful planning, you can make sure that your personal and financial affairs are handled properly after your death.

#2: Forgetting to Update Your Will and Trust

During your lifetime, many changes can occur including new births, adoptions, marriages, divorces, and the acquisition of new property. It is important to update your will/trust so that you can account for these changes.

#3: Putting Your Child’s Name on the Deed

By placing your child’s name on the deed to your home, you are giving your child financial headaches as he or she will have to face high taxes. Consider creating an estate plan that passes on the home through a trust.

#4: Choosing the Wrong Estate Executor/Trustee

Sometimes people choose a spouse or child to be the executor/trustee of the estate. However, there may be someone else that can handle your estate when you are gone who is not as personally invested and is able to handle the extensive duties better.

#5: Not Planning for Disability

An estate plan also helps you plan for unexpected or long term disability. Without proper planning for disability, you may have greater personal and financial consequences to face. Therefore you should consider appointing a financial and medical power of attorney to address these circumstances.

#6: Not Meeting with an Estate Planning Attorney

Without a professional estate planning attorney, you may create an improper estate plan. If you have complicated assets or doubts about creating your own estate plan, you should consider meeting with an attorney for estate planning.