Estate Planning Pitfalls to Avoid • No W

Estate Planning Pitfalls to Avoid

• No Will- If you don’t have a will, the estate may go into costly probate.

• Choose an Executor Wisely- Inheritance theft is a growing problem in the US, and sometimes family members are the culprits. Have perhaps two executors, one being an attorney or accountant outside the family.

• Not Giving Now- The more you leave behind, the more taxes you’ll pay. An individual can give $13,000 each year to anyone under the annual gift exclusion.

• Failing to Use a Trust- A living trust can protect your assets and make the process of passing them easier. For substantial assets find a trust attorney to explain what trust is right for you.

• Be Aware if Not Married- A divorcee, widow/widower, or non-married person does not have the ability to transfer an unlimited amount of wealth to a survivor. Make special provisions to provide for those you love.

About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.