Some company owners feel comfortable with the thought that their businesses are their retirement plans and their children will take over upon their deaths. Unfortunately, too many companies in Florida end up having to close their doors because proper succession planning was not done. To make sure nothing is left unaddressed, the services of estate planning lawyers, along with other professionals may be necessary.
Some people procrastinate when it comes to estate planning because it all seems so confusing. What is the difference between a will and a trust, and should they draft as a will or establish a trust? Florida residents may learn that just about every person needs a will, and having a trust in addition to a will has some advantages.
There is often no shortage of advice from friends and family in conversations about estate planning. Residents of Florida who have related questions may find more value in the advice provided by professionals. Living trusts are often recommended, but different factors must be considered before creating such a trust.
The entire process of a divorce is typically taxing, and the stress will likely continue to escalate for a while after it is finalized. At the start of a newly single Florida resident's future, there may be debts, decrees and deeds to implement, retitle and reorganize as one's post-divorce life is established. In some cases, these tasks are so overwhelming that updating estate plans are left unaddressed.
Hiring someone to create an estate plan, trust or last will is always a smart move. By committing your desires to paper and having them legally verified, you can reduce the risk of issues with your estate.