Estate planning is a critical step in securing your family’s future, but even well-meaning individuals can make costly mistakes. Here are five common errors Arkansas residents should avoid.

1. Not Having a Will

Without a will, Arkansas laws will determine how your assets are distributed, which might not align with your wishes. This can lead to disputes and unintended outcomes for your heirs.

2. Failing to Update Your Estate Plan

Life changes, such as marriage, divorce, or the birth of a child, necessitate updates to your plan. For instance, forgetting to remove an ex-spouse as a beneficiary can create legal complications.

3. Overlooking Beneficiaries

Retirement accounts and life insurance policies are often significant assets, but they are governed by beneficiary designations. Ensure these are current and consistent with your overall plan.

4. Ignoring Healthcare Directives

Advance directives and powers of attorney allow you to dictate healthcare decisions if you’re unable to make them. Without these documents, family members may face stressful and emotional disputes.

5. DIY Estate Planning

Arkansas laws are complex, and DIY solutions can lead to errors that cost your family. Partnering with a knowledgeable estate planning attorney ensures your plan is legally sound and tailored to your needs.

Don’t risk your family’s future. Contact Jurist Law today to create a comprehensive and legally sound estate plan.