The first major mistake is failing to draft a will. Many believe that the law will automatically settle matters, but Laura Lobo emphasizes that a will makes the process faster and cheaper. Without it, uncertainty arises regarding specific assets, which often triggers conflicts even within modest estates.
“"A will can make the inheritance process faster and more economical, and it also allows for the prevention and resolution of problems."
Another recurring error is giving away money or property during one's lifetime without legal advice. These donations can significantly impact the final inheritance, leading to disputes over whether the gift was an advance on the future legacy or a separate present, often resulting in legal and tax complications.
Finally, the expert warns against failing to update a will after major life events, such as a divorce or new family additions. An outdated document may reflect a reality that no longer exists, causing significant legal hurdles when the time comes to manage the estate.
