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Three estate planning mistakes and how to avoid them

Like many successful people, physicians are often so busy dealing with their practices and their personal lives that they never take the time to deal with the important challenge of creating a tax-wise estate plan for their families. In fact, a recent survey by Medical Economics showed that less than 5% of all doctors had a proper estate plan in place. In this article, we will examine the three most significant mistakes physicians make when creating (or ignoring) their family's estate plan. We'll also cover simple tools that a doctor can use to avoid such mistakes and allow his or her family to elude the unnecessary costs that come with poor planning.