Top Ten Common Estate Mistakes

By Bob Morris and David Grant “Poor Man’s” estate plan.  Do-it-yourself estate plans can create more problems than they solve.  Many well-intentioned people will title assets jointly with a spouse, friend, or child, not understanding the significant legal ramifications.  Others will name a “Pay on Death” (“POD” or “TOD,” as they are sometimes called) beneficiary and consider their estate planning complete, while not planning for very real risks and contingencies. Failure to plan for significant others.  Domestic partners and others who cohabitate and live together do not share the same legal rights as married couples with regard to inheritances, health...