Remember those old Crock-Pots where you could set it and forget it? Estate planning doesn't work that way. In this episode of Purposeful Planning, we examine why the "set-it-and-forget-it" approach to estate planning can lead to costly mistakes, particularly with $80-125 trillion expected to be transferred between generations over the next two decades. From outdated beneficiary designations to changes in tax law, discover why regular reviews are essential and what mistakes to avoid. 

Sources:   

1. https://smartasset.com/taxes/trust-tax-rates 
2. https://taxpolicycenter.org/briefing-book/how-do-state-and-local-estate-and-inheritance-taxes-work 
3. https://www.aspenwealthmgmt.com/resource-center/financial-planning/next-generation-financial-leadership 
4. https://www.aspenwealthmgmt.com/resource-center/estate/estate-planning-mistakes-to-avoid 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  

Aspen Wealth Management is a registered investment advisor with the SEC. 

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