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10 Common Mistakes with Estate Planning—the good news is that all of these mistakes are easily avoidable!

  • February 10, 2013
  • Blog
Potente, Business Lawyer and Company Formation
  1. Even though a business may be an individual’s most valuable asset, he or she fails to implement the proper succession plan;
  2. Failing to consult with a professional and utilizing an online, “do-it-yourself” website;
  3. Not properly funding or transferring assets to the trust and exposing your estate to probate;
  4. Thinking a “Will” is sufficient estate planning;
  5. Not updating your estate plan after a major event (i.e. death, grandkids, divorce);
  6. Purchasing additional real estate or other investments in the future and failing to transfer such holdings to a trust;
  7. Owning a corporation or Limited Liability Company and failing to transfer stock or membership units to your trust;
  8. Failing to integrate your financial planner, CPA and attorney when developing your estate plan (each individual plays a unique and important role);
  9. Lack of life insurance can cause liquidity problems for the surviving spouse; and
  10. Not fully understanding what you are creating and effectuating when you complete your estate plan.

Please do not hesitate to contact your trusted advisors at POTENTE. Our team is here to help.

Facebook meta
  • November 17, 2021
  • Blog

How Facebook became Meta

On October 28, 2021, Facebook announced it would now operate under a new company name, Meta. Founder, Mark Zuckerberg, announced the company’s name change is in line with its intention of progressing beyond a social media network and developing the next generation of technology. During the announcement of the name...

  • October 11, 2021
  • Blog

Consumer Trends: Does Shopping Feel More Like a Sport Now?

Trying to follow consumer trends feels a lot like riding a rollercoaster, especially considering the impact of the COVID-19 pandemic on consumerism. The pandemic forced some consumers to retire their hefty spending accounts or entertainment budgets. Instead, these consumers began focusing on the essentials, like toilet paper and bottled water....