Jennifer Zegel, Partner in Kleinbard’s Trusts & Estates Practice and Chief Product Officer of Eternal Me, was quoted in an article on comparisonadviser.com, a comparison tool website that analyzes financial services and products. The article focuses on estate planning mistakes to avoid including, not naming beneficiaries, overlooking power of attorney documents, choosing the wrong executor, not having a clear plan, and not keeping loved ones abreast of specific wishes.
Jen elaborates on the value of choosing a financial responsible and neutral executor who will be equipped for the role throughout all stages.
“Choosing the wrong executor can be catastrophic for an estate,” says Jen. “When you pick the wrong person, you run the risk of family disputes, more time spent in court, mismanagement of your estate, and even tax penalties.”
She also encourages readers to tailor their plans to reflect specific assets and wishes while ensuring clarity.
“A person’s estate plan should really mirror the complexity of their life, assets and goals for what they want to leave behind,” advises Jen. “It’s detailed where it needs to be, but never at the expense of clarity.”
Overall, the article and Jen emphasize the importance of taking a proactive and mindful approach to estate planning and speaking with advisor to help identify opportunities, align goals, and navigate any complexities.
