Aging is something that is not afforded to everyone, but that does not always make dealing with issues unique to aging an easy process. Long-term care needs are often confusing and difficult to navigate. Many people in Florida feel ill-equipped to handle these matters or are operating under false notions of what will and will not be covered in their future. Here are a few things everyone should understand about long-term care planning.
Florida residents who are single, do not have any children and are approaching retirement might feel left out of most estate planning topics. Many of these discussions center around how to establish a legacy for adult children or how to make sure a surviving spouse is well cared for. This does not mean that a single person without children can skip out on creating an estate plan.
With a durable financial power of attorney, you never have to worry about who will manage your finances if you're incapacitated and unable to do so yourself. Instead, the person you name as your power of attorney will step in, at the appropriate time, to handle everything until your health improves or you pass on.
For those who are not familiar with the process, estate planning can seem like an incredibly overwhelming task that they would rather not deal with. Others put off dealing creating an estate plan because they are uncomfortable confronting the notion of their own mortality. In some cases, Florida residents might insist they do not care how their assets are distributed after their death. While these concerns are understandable, they should not prevent anyone from creating at least a basic plan.
Most Florida pet owners adore their furry, four-legged animals. Many see their beloved pets as more than just an animal, though, and instead treat them like just another member of the family. Despite this, pets are often entirely left out of the estate planning process. Here is how a few notable celebrities included their pets in their estate plan.