ANN ARBOR, Mich. - eTradeWire -- Setting up a trust is a great way to plan for the future and avoid the complexities of probate. However, even the most well-intentioned plans can sometimes fall short.

Despite careful planning, it's easy to overlook certain assets or make mistakes in the titling process. Here are some common pitfalls:

• Forgetting to Title Assets in Trust: One of the most frequent mistakes is failing to transfer assets into a trust. This can happen with investment accounts, bank accounts, or other assets.
• Overlooking Beneficiary Designations: Neglecting to name beneficiaries for retirement accounts, life insurance policies, and annuities can result in probate.
• Changes in Circumstances: Life changes, such as marriage, divorce, or the birth of children, can impact estate plans. It's essential to review and update beneficiary designations and trust documents accordingly.

Learn more about the common pitfalls of probate here and how you can protect your assets here (https://www.psedlaw.com/learn/more/using-probate-estate-planning-attorneys-ann-arbor).

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The most effective way to take advantage of estate planning resources and tools is to seek representation and work with an experienced attorney. When you work with Pear Sperling Eggan & Daniels, P.C., you'll be in great hands. With over seven decades of combined experience, you'll be guided through the complex estate planning process by someone who has seen it all and can help you make the best decisions for your family. They understand the many facets of estate planning, including how beneficiary designation assets can benefit your estate. Let them help you take the right steps to avoid extra taxes and expenses and to ensure that your assets end up in the intended hands.

Need help from an expert family law or estate planning attorney in Ann Arbor? Pear Sperling Eggan & Daniels, P.C. can discuss your case and help you decide your needs.

About Pear Sperling Eggan & Daniels, P.C.: Pear Sperling Eggan & Daniels, P.C. is one of the oldest law firms in Washtenaw County, Michigan. Founded in 1948, Pear Sperling has adapted with the ever-changing needs of clients and flourished into a well-respected and successful law firm, trusted by clients, judges and other attorneys. Top Rated Michigan Superlawyers^®, AV^® rated, and their attorneys are held to the highest rating possible based on peer review. https://www.psedlaw.com

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