Avoiding Estate-Planning Mistakes | 5 Questions with Fidelity | Fidelity Investments

Creating an estate plan is a necessary process. To do it effectively, however, you need to make sure you consider taxes and estate laws, select the right team, communicate your plan, and more. The latest 5 Questions with Fidelity looks at the most common mistakes people make when creating an estate plan and shows you how to avoid them. Key Takeaways - Start your estate planning with asset titling, beneficiary designations, and a will. - Look into whether estate taxes affect you. The federal exemption amount is $15.0 million per person for 2026. - It is critical to select an executor, power of attorney, and trustee who are capable of carrying out their duties. 00:00 Welcome to 5 Questions with Fidelity 00:21 What are the biggest mistakes people make with estate planning? 01:36 How can you minimize gift, estate, and inheritance taxes? 03:42 How do you choose the team to execute your estate plan? 06:01 Why should you talk to your loved ones about your estate plan? 07:01 What else should you consider when estate planning? Questions? Drop them below 👇 and we’ll reply right in the comments. Watch on Fidelity.com https://www.fidelity.com/learning-center/wealth-management-insights/estate-planning-mistakes-video Find an advisor: https://digital.fidelity.com/prgw/digital/faa/0/connect-with-an-advisor? • To see more videos, subscribe on YouTube: https://www.youtube.com/fidelityinvestments • Follow Fidelity on Reddit: https://www.reddit.com/r/fidelityinvestments/ • Follow Fidelity on Instagram: https://www.instagram.com/fidelityinvestments • Follow Fidelity on TikTok: https://www.tiktok.com/@fidelityinvestments • Follow Fidelity on Facebook: https://www.facebook.com/fidelityinvestments/ • Follow Fidelity on LinkedIn: https://www.linkedin.com/company/fidelity-investments/ • Ask Fidelity on X: https://www.twitter.com/Fidelity Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 1203013.7.0 #estateplan #inheritancetax #trusts