Wednesday, December 22, 2010

Estate Planning Mistakes - Number Five


I can not tell you how many Wills did not adequately identify the property to be given. This provides for further disputes among family members. You want to be specific in your bequest. For example, provide the account number; give the property address or legal description on the Deed; provide the license number or registration. You want to catalogue art work and reference the appropriate catalogue number for distribution.

You can assist your Executor if you leave a memorandum with your Will that is precise regarding the gift. And finally, as a savings provision, let your Executor make final decisions in any dispute.

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