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.
Stan Lee might be most well-known in Florida for creating super heroes like Spiderman and the Incredible Hulk during his time as a powerhouse at Marvel Comics, but his most recent headlines have more to do with his estate than his creative work. Most people in Florida assume that estate planning only deals with issues after a person's death, but Lee's recent issues highlight the benefits of also planning for the final stages of life. This includes selecting reliable trustees and caretakers who can manage a person's financial interests, medical decisions and other important aspects of their estate plan.
A will can function as a useful tool in settling one's final affairs. Most people know to include a will in the estate planning process, but what exactly can a will do? Individuals in Florida who choose to use a will may wish to find out a little bit more about the functionality of a will.
Many people don't immediately think of their online lives when planning for the future, but most people spend a significant portion of their time online. Whether it is Facebook, points rewards programs or email accounts, most people probably have some type of digital asset that will need to be settled after their death. Incorporating digital assets has become a larger part of most people's estate plan, and in Florida, being ready to transfer administrative power to these assets can help preserve their financial and sentimental value.
A parent or caregiver for an individual with a disability may wish to create a situation in which his or her loved one can thrive. The disabled individual may also be looking at ways to utilize income and savings alongside government benefits. A special needs trust can be one option for individuals looking to diversify their financial resources. In Melbourne, Florida, individuals can create these trusts and also preserve other benefits.
A person tasked with resolving a loved one's finances after his or her death may suddenly find themselves with much to take care of. An organized estate plan can aid that person with estate administration, making it less costly and time consuming. In Florida, individuals who wish to prepare for their final needs can ensure that the wrap-up of their final business runs smoothly.
If you're an avid golfer or love participating in your community's events, then you may be someone who wants to give to charity following your death. Whether or not your family agrees with your decision, this is something that could give you great peace. You love knowing that you're leaving something for others who may need it more than those you're closest to.
Throughout their lives, many individuals will sign various types of legal documents. One of these legal designations that may become an important part of estate planning is the power of attorney. There are two main types of powers of attorney -- financial and medical. A person in Florida who wishes to be well-prepared for late-in-life needs may wish to know more about this important role.
Many individuals, from the everyday collector to the wealthy investor, may overlook the method for transferring their collections upon their passing. One popular item that people collect is art. Art can appreciate in value, and transferring the art could potentially be problematic or contentious without a proper estate plan. In Florida, some thoughtful art collectors have chosen to allocate this asset in advance with a solid plan.
An early start to end-of-life planning can save grief after one's demise. In Florida, one can choose to consult with all manner of financial professionals, estate planning lawyers, family, friends and charities to put together the full picture of asset allocation after death. Some people falsely believe that this type of planning is only for the rich, but many individuals can benefit from a proper plan.