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Don't make these mistakes with your estate plan

It is easy to make mistakes when you are planning your estate. From choosing a healthcare proxy who lives in another state to forgetting to change your beneficiaries after a divorce, there are plenty of mistakes to be made.

That's why most people work with an attorney and review their estate plans at least at the time of major life events. Doing these two things can help prevent major mistakes that threaten the estate or end up becoming costly errors. Here are two errors that you should avoid at all costs.

Forgetting to update your plan

One big mistake is failing to update your estate plan as you age and go through changes in your life. There is no specific length of time that all attorneys agree on for updates, but you should at least update your estate plan when you go through a major life-changing event. A new birth, a divorce, a wedding or a death can all impact your estate plan.

Forgetting to update your powers of attorney

Another big mistake is forgetting to update your powers of attorney. You'll have at least two people assigned to these roles, one for your finances and one for your medical care. If you go through a major life event, you may want to change who you've assigned to those roles.

Once they're assigned, make sure they have any documents they need and are informed of your decision to appoint them as powers of attorney.

Your attorney will talk to you more about the mistakes you can avoid by working through your estate plan with a professional.

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