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204 Most common mistakes of a will

204 Most Common Mistakes of a Will

December 01, 20212 min read

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Do you have a will? If not, that's the first mistake to remedy...

Listen to this week's episode to find out the most common mistakes made when drawing up a will, and at least ONE of the reasons why it is SO important that you have one.

Show notes:

  • [01.58] Reasons people are prompted to make a will.

  • [03.20] Reasons people DON'T get wills.

  • [07.54] The most common mistakes of a will

    • Leaving money to a minor.

    • There's no fall back.

    • No trust deed for the trust.

  • [12.43] Signage, storage and notifications.

Quotes

"Doing a will is the most important thing you could ever do." - Lisa Linfield

"Remember you can (and should) change your will every two years." - Lisa Linfield

"An internet will, a bank will, an any will is better than no will. But, there is no reason anyone should die without a will" - Lisa Linfield

"You need to give the trust the rights of what the people can do." - Lisa Linfield

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TRANSCRIPT

I see a lot of wills, and they always challenge me…

… but even a bad will is better than no will (intestate)

 

Why people don’t do wills

·         Can’t agree on guardians for kids (especially if divorced)

·         Don’t know who to speak to

·         Subconsciously avoid discussions on death

 

Biggest mistakes of a will

·         Money being left to minor (<18 year old) kids

·         No fallback (what happens if the person dies before you do)

·         Money going to a testamentary trust but no trust deed

 

Biggest mistakes after will agreed

·         Signing, storage and notifications

Lisa LinfieldChristian MoneyPodcastBusiness OwnerEntrepreneurwilldeathestatelast will and testamentguardiantrustwhat happens when I die
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Lisa Linfield

Lisa Linfield is on a God-given mission to free 1 million women from the weight and stress of money. She's a CFP, founder of a wealth management business, and podcast host of Working Women's Wealth

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