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The following are a number of areas where I often see mistakes made by do-it-yourself planners. A good estate plan allows for transfers of wealth to take place at minimum cost (including taxes) and insures that the wealth ends up in the hands of proper beneficiaries with a minimum of hassle. With that kind of money on the table, having a “do-it-yourself” estate plan—or even worse, none at all—can lead to potential big-dollar mistakes.

households likely to pass along nearly 60% of the nation’s wealth within the next 50 years. Estimates from the Federal Reserve Board have the richest 5% of U.S. A major intergenerational transfer of wealth is underway, like nothing before seen in this country—or the world, for that matter.