What Every Parent Should Know About Wills and Trusts
Michelle-Shari Kruss, Attorney at Law
Our children are our greatest treasures, yet 74% of parents don’t even have a will. Of the 26% who do, most have made at least one of the ten most common mistakes that leave their children and estate at risk.
1. Made a plan? The most common planning mistake is the failure to have any plan at all, or having an antiquated or improper plan.
2. Chosen a guardian, conservator, and trustee for your children?
3. Chosen an alternate guardian, a temporary guardian, and provided a detailed description of your wishes regarding the raising of your children?
4. Left money outright to minor children?
5. Identified possible contingent beneficiaries other than your heirs?
6. Properly signed your documents?
7. Drafted a health care directive?
8. Created a Durable Power of Attorney?
9. Made handwritten edits to your Will or reviewed your Will recently?
10. Coordinated your beneficiary designations with your Will language?
Michelle-Shari Kruss’ practice focuses exclusively on helping new and busy parents address their estate planning needs. For the past thirteen year she has been a frequent lecturer at many of our local hospitals, MOPS groups, playgroups, professional groups, and religious organizations.