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Nothing can be taken for granted in estate planning

Published January 19, 2009

When thinking about estate planning it can be easy to assume that the transfer of your assets and property will proceed exactly the way you imagine without any contention or unexpected issues. Perhaps you think you know how your children, spouse or business partner will behave when you are no longer with them. Or, maybe you believe they know you well enough to be able to guess exactly what your wishes are.

No matter what your level of planning, whether you have a will, trusts, power of attorney or all of these things, nobody can guess exactly how events will unfold after your death. This is why it is so important not to take anything for granted when doing you estate planning. Be as specific as you can in your Will. Appoint trustees and guardians when necessary, and make sure you take into consideration the appointment of successor guardians and trustees as well. The more prepared you are in your lifetime; the better your loved ones will be cared for when you are gone.

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