How to Do Estate Planning Right – 3 Mistakes to Avoid

Nobody wants to talk about estate planning in Vancouver. But it’s an essential thing that can protect your surviving family members from uncertainties. With a good estate plan in place, you can set all your worries aside and ensure that your family members will get what you want them to get. 
 
You need to know what estate planning mistakes to avoid to create a successful estate plan. Here are those mistakes:
Mistake #1: Not understanding your needs first
Estate plans are a personal journey. While there are some strategies that you can employ, you would want this to be about you and what you want. It has to be a personal approach, so you can make the right decisions when it comes to how you want your assets to be distributed.
Mistake #2: Not adding an alternate beneficiary
You need to place an alternate beneficiary in your will in case your first one is no longer there to receive it. For instance, if the primary beneficiary dies before you do, there is still an alternative beneficiary to receive the asset.
Mistake #3: Not making changes to your will when there is a major change in your life
If you experience major changes in your life that will affect the way your assets will be transferred, you need to make changes to the estate plan as well. For instance, if you got a divorce but your ex is still included as a beneficiary, it still holds.
When it comes to estate plans, you should get the help of experts like ZLC Financial to ensure that your family members will get the most from it.
To know more about Best Financial Advisors in Vancouver please visit our website: zlc.net

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