Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
The way in which assets are titled can be vital.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.