An estate plan is a smart way for any Florida reader to protect his or her assets and ensure that loved ones have the protection they need in the future. While a person may have a will and other estate planning measures in place, that may not be enough. In order to have the full amount of protection, a person would be wise to update his or her estate plan after major life events, such as a divorce.
If a loved one has recently passed away in the state of Florida, it is likely that you will be dealing with a mixture of emotions. While you will be grieving, you will also have to deal with logistical aspects of the passing. These two processes can be tough to deal with alone. It is important that you reach out to your support system for help and guidance.
Preparing an estate plan is the best way to ensure that a person's final wishes are respected and upheld. However, beyond ensuring that heirs receive their correct inheritance, is there anything more that Florida baby boomers can do to make sure that their children and grandchildren are taken care of? Some experts believe that parents might need to give their millennial children a push in the right direction when it comes to estate planning.
Selecting a person to take over financial or medical decisions in the event of an emergency or medical incapacitation is an enormous step during estate planning. However, family members fall out of favor, close friends become distant and decisions that once made sense might no longer be relevant. In such situations, Florida residents may need to revoke their current powers of attorney in order to establish new ones.
Creating an estate plan is an important part of becoming an adult. However, simply drawing up a will and choosing someone to act as a health care proxy does not mean that a person's job is done. Regularly updating documents is an important part of estate planning that many people in Florida tend to overlook. Here are a few situations that indicate a person should consider updating his or her plan.