Creating an estate plan is important for many reasons. Doing so can ensure that a person's medical choices are respected, assets are distributed according to the maker's wishes and that surviving Florida family members have a clear plan to follow in the wake of their loved one's death. Another big plus to estate planning? Easing the probate process.
You recently moved to Florida, and it's your goal to make friends and spend a lot of time fishing and golfing. Before you do that, though, take the time to review your estate plan. With your recent move, there may be aspects of the plan that you need to address to keep your estate safe from taxation and probate.
Creating a comprehensive estate plan can be an empowering act. A person must take the time to tackle difficult questions, such as what will happen if he or she is incapacitated and unable to make medical decisions? How does the individual want his or her valuables to be handled after death? However, for as hard as people work on the estate planning process, some in Florida do not consider certain roles as carefully as they should.
Everyone knows the importance of creating a will, even if few people actually follow through do so. However, some people in Florida feel unnerved when discussing what else they should include in their estate plan. After all, thinking about the end of life and all that comes with it can be uncomfortable. Ultimately, creating a well-rounded estate plan can ease those nerves while also making things easier for surviving family members.
The quality of life for people living with disabilities in Florida is leaps and bounds ahead of what it used to be in decades past. Now, with the right kind of care, these individuals can typically expect to live long, full lives. But what happens when someone with a disability turns 18 or their primary caretaker is no longer able to fulfill their duties? In such cases, a special needs trust is an invaluable asset.
Getting a divorce can be one of the best decisions for unhappy Florida couples to make. However, reaching an agreeable divorce settlement can be emotionally exhausting, and many people forget that there is still work to be done when the process is over. Estate planning needs change throughout life, including before, during and after marriage.