Estate Planning Mistakes: Not Making The Most of Your Trust

During the last three weeks, we’ve discussed the seven biggest estate-planning mistakes made by investors. In week one, we reviewed each of the seven. But in case you missed it, here’s a quick list of each of these big mistakes:

1. Not having an estate plan
2. Not reviewing your plan annually
3. Not placing your assets in your trust
4. Not having the liquidity your estate needs to pay estate taxes
5. Delaying decisions and planning due to tax policy uncertainty
6. Not taking advantage of tax planning and wealth transfer strategies
7. Failure to properly utilize life insurance as a planning and liquidity tool

Last week, we talked about the importance of reviewing your estate plan annually. But, what if you already have an estate plan and just aren’t using it properly? What good is having an estate plan and setting up a trust if you fail to actually put your biggest assets in that trust?

If you have an estate plan and a trust, then congratulations! The next step is to learn how to get the most of the tools you’ve already set up.

If you have substantial assets, you need to have the right estate plan in place. Fortunately, my friend and colleague Kevin Yurkus, president of Fairway Capital, is an expert at helping high-net-worth investors manage their estate plans. Fairway Capital is a sponsor of my weekly radio show, and one reason why is because I trust Kevin’s judgment when it comes to all things estate planning.

If you have assets over $2 million, you MUST listen to my new audio special report. In this report, we cover each of the seven biggest estate-planning mistakes, and we explain how easy it is to correct each one.

To listen to this FREE audio special report, click here.