July 10

Common Mistakes on Life Insurance Designations

Common Mistakes on Life Insurance Designations

Often when people purchase a life insurance policy, they fill out the paperwork at the beginning (which includes an initial beneficiary designation) and then simply pay the premiums and do nothing else. However, most often people do not realize that they make a bad choice for beneficiaries at the beginning or fail to update the beneficiaries when needed. At Wiley Law, LLC, we review our client’s designations to ensure they will work properly with any planning put in place. Here a 5 common mistakes when designated beneficiaries.

June 4

Will or Living Trust?

Will or Living Trust?

The first question asked by many individuals regarding estate and asset planning is “Do I even need a will or an estate plan?” Any attorney worth his salt should answer a quick “YES!” to this question. If they don’t, you should probably consider visiting another attorney. Whether you need an estate plan is a very different question than how extensive of a plan you need or what planning you can afford. Even young individuals should consider putting basic disability or medical documents in effect (check out this article).