Life insurance is one of the largest assets in a person's estate, so who you designate the beneficiary of the policy is a major decision (especially since this designation controls over what your will or trust say).
Making a mistake on your beneficiary designation can sabotage your estate planning, cause unnecessary expense for your estate, and create problems for your beneficiaries.
Here are some of the most common mistakes you should avoid . . .
It takes a great deal of strength and courage to plan for your death. For most people, it’s a topic they actively try to ignore. With age, however, you’ve come to accept that death is an inevitable reality. You may have witnessed the loss of loved ones over the years and the repercussions of passing away without a plan. Whatever the reason, you’re ready to begin learning about your options.
Here is a breakdown of the estate planning basics to help you start your journey.
Estate planning can feel like another language. Probate can feel like another language.
Probate is the legal method of settling affairs after death. If somebody dies with a will or trust in place (estate plans), then their appointed executor or trustee will oversee what happens next. If there is no estate plan, Texas probate courts will distribute assets based on relationship.
Law Offices of Aurelio Leo Lara
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McAllen,
TX
78504
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956-928-3837
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