Nearly 70% of Americans die without a will. The consequences for their families — financial, emotional, and legal — can be severe and long-lasting. Estate planning is not a luxury for the wealthy; it is a fundamental act of care for the people you love.
A comprehensive estate plan includes: a Last Will and Testament directing how your assets are distributed, a Revocable Living Trust enabling assets to pass outside probate, a Durable Power of Attorney designating someone to manage your financial affairs if incapacitated, a Healthcare Directive documenting your medical wishes, and updated Beneficiary Designations on all accounts.
When you die without a will, state law determines who receives your assets through a public, time-consuming, and often expensive probate process. Family members you intended to exclude may inherit. A judge decides who raises your children. Business assets may be disrupted.
The most common estate planning mistakes include: not updating beneficiary designations (an ex-spouse listed as beneficiary overrides your will), assuming a will alone is sufficient, not planning for incapacity, failing to fund the trust after establishing it, and delaying because it seems unnecessary.
At Aurion Trust Holdings, our trust services team works alongside your existing legal counsel to ensure your estate plan is comprehensive, current, and properly executed. Estate planning is one of the most important gifts you can give your family. Schedule a complimentary consultation with our trust services team today.