Ten Serious Mistakes to Avoid in Estate Planning

8. Trusting People to 

"Do the Right Thing."

Sometimes, a person leaves a loved one out of a will with the expectation that another beneficiary will “take care” of that person. Sometimes this is done because the loved one receives governmental assistance. Other times it is because the loved one has creditor problems or is in the middle of a divorce. A lot of trouble is avoided if you establish an appropriate trust in such a case.

Remember, even if the “trusted” beneficiary has the best of intentions, that person could suffer creditor problems and become unable to care for the loved one left out of the will. And that does not even take into account sheer greed or sense of entitlement.

Don’t “trust.” Establish a trust.