Hidden Pitfalls in Estate Planning-Special Circumstances When You Might Need a Professional

Why not take the Do-It-Yourself approach to Estate Planning?  If you have very few assets, self- help might be one approach. But Estate Planning is much more than having a Will, Power of Attorney; and Health Care Directives in place.

When it comes to hidden pitfalls, there are quite a number of special circumstances where you would be ill-advised to use an “estate planning app”’.

 Here is just a short- list of some situations that might create “pitfalls”:

 Blended families and step-families– his, hers, mine, yours, ours, theirs

Common law couples; same sex couples; unmarried couples

Changing dynamics of a family structure – divorce(s), remarriage(s)

In vitro fertilization, Artificial Reproductive Therapy, Adoption

Dual citizenships

Living/retiring abroad

Discord and long- term alienations among immediate family members

Complex estates with complicated tax rules

Small business ownership

Frequent changes in domicile

Complex divorce/marital agreements

Family farms/acreage

Special needs family member

Widely differing views of inheritance between spouses

Tax-sheltered assets

Overseas assets

Diminished mental capacity/dementia/cognitive decline of testator

And the list goes on….

In such cases, there is a higher probability of unexpected outcomes from a poorly structured estate plan.

Working to Preserve Your Wealth and Protect Your Future…in a Constantly Changing World

Please read my full disclaimer and “How I Can Help You”



About Attorney Barbara Ann Dalvano

Attorney in Denver, Colorado with extensive practice experience in the areas of Estate Planning, Wills and Trusts, Business Succession Planning, Probate, Contract Law.

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