As you get older, you may start to worry about what will happen to your child if you pass away. When your child was younger, the reality that they had special needs wasn't as serious to you. However, over time, you've realized that not being there could make their life very difficult.
Bitcoin and other types of cryptocurrency are often the first things that come to mind when people think about digital assets. Because investing in cryptocurrency is still not a mainstream activity, many people in Florida might think that they do not have any digital assets to protect. These individuals might not bring up digital assets at all when estate planning, or may address these assets in a manner not consistent with the law. Either of these actions can have unintended consequences.
Managing finances can be difficult even in the best of situations. Some elderly Florida residents find that keeping track of money, bills, income and more gets harder with age. For these and other reasons, a person might choose to name a trusted loved one or close friend in a financial power of attorney. This is often done during long-term estate planning. These individuals have a significant responsibility to manage those finances in a responsible manner.