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Part of the problem is the widespread misconceptions about what estate planning entails and how it can help you.
Its role in wealth building and preservation is woefully underdiscussed.
The first step is recognizing and correcting the most common and damaging estate planning myths.
This oversimplification leads many to create estate plans that are overly minimal or insufficient.
Without clear instructions, even a seemingly straightforward estate can cause confusion, delays and unnecessary expenses.
A well-structured estate plan helps your loved ones avoid major financial pitfalls and maximize what they inherit.
Once they create a will, they assume their work is finished.
Its not just about creating documents but also about developing a strategy that adapts over time, she said.
Maintain open lines of communication with your family about your estate plan.
Hold regular family meetings to discuss and update them on any changes.
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