Estate Planning Mistakes That Cost Families Thousands (And How to Avoid Them)

Most financial planning mistakes don’t show up until it’s too late—after someone passes away.In this episode of Make It Make Cents, Michele Cropley and financial advisor Brendan Hayes break down the most common (and costly) planning mistakes families make—and how to avoid them before they create real problems.They cover:●      Why account ownership and titling matter more than most people realize●      The critical role of beneficiary designations (and what happens if they’re missing)●      How improper planning can lead to probate, delays, and unintended outcomes●      The hidden risks in IRAs, 401(k)s, and stock accounts●      What “per stirpes” means—and why it matters for your family●      Why having a trust isn’t enough if it’s not properly funded●      The dangers of poor communication between spouses and family members●      Real-world examples of mistakes that cost families tens or even hundreds of thousands of dollarsThe key takeaway: good planning isn’t just about having documents in place—it’s about making sure everything is aligned with your intentions and clearly understood by the people who matter mostArmstrong Advisory Group, Inc., a Registered Investment Adviser.  This content of the post or podcast is intended solely to provide general information regarding our business services. Nothing within the post constitutes personalized investment advice or is an offer to buy or sell any security or insurance product. To the extent you wish to engage us for investment advice based upon your personal investment circumstances and objectives, please contact us directly at (781) 433-0001. Armstrong Advisory Group, Inc. does not offer tax or legal advice, and no portion of the post or podcast should be interpreted as legal or accounting advice. You are strongly encouraged to seek advice from qualified tax and/or legal experts regarding any tax or legal matters relevant to you.   You agree, as a condition precedent to your access to the post or podcast, to release and hold harmless Armstrong Advisory Group, Inc., its officers, directors, owners, employees, and agents from any and all adverse consequences resulting from any of your actions or omissions, which are independent of your receipt of personalized investment advice from Armstrong Advisory Group, Inc.   Armstrong Advisory Group ("AAG") is affiliated with an insurance agency called Armstrong Insurance Group, Inc. ("AIGI"). AIGI offers insurance products and services to customers, including investment advisory clients of AAG. AAG refers clients to AIGI for those products and services. AIGI does not, however, compensate AAG for any referrals.   Certain AAG representatives are also licensed as insurance professionals appointed with AIGI and may earn commission-based compensation for selling insurance products, including insurance products implemented for AAG clients. Insurance commissions earned by AAG representatives are separate and in addition to AAG's advisory fees. This practice presents a conflict of interest as the representative has a financial incentive to recommend insurance products to a client. Clients are under no obligation, contractually or otherwise, to purchase insurance products through any of AAG's representatives or any other AAG affiliated person.