Everyone likes to have a few tips and tricks to consider when they approach a new, serious project. Estate planning is no different. In Florida, many people use a lawyer to help them navigate the world of estate planning, but it is possible to glean some information from the internet in order to be better prepared for the big day with an attorney. A recent news post shared a few tips and tricks for estate planning.
The first item of consideration is the universal need to plan an estate. Some may think that they do not need an estate plan simply because they are not wealthy. But the fact of the matter is, most people have at least some assets, like a home and personal property, and a few family members to whom they wish to leave their items after they pass on. If one has minor children, or elderly parents, an estate plan can help arrange for their care.
A last will and testament can help resolve issues before they become a legal battle in court. A will can clearly define who and where assets will go, and other aspects of one's final wishes. If the will is neglected, the courts will get to decide how the assets are allocated, and the court's ruling may not align with the wishes of the deceased person.
The article also urges people to consider gratitude. People can use their will to express their gratitude to certain people, places or institutions. This type of expression can help people give more meaning to their lives. Estate planning does not have to focus solely on tax matters, and a last will and testament helps people express gratitude and their final wishes. In Florida, a floridaelderlaw.net/Estate-Planning.shtml">estate planning attorney can assist with the process of creating a legally binding last will and testament.
Source: memphisdailynews.com, "Estate Planning -- It's Not Just Taxes", Ray and Dana Brandon, June 23, 2017