For those in Lee County, Florida who do not have family or close friends, estate planning might not seem like something that is very important. Some may wonder what it really matters where their money goes after they’re gone if they do not have loved ones to worry about. However, leaving your estate to charities or foundations of your choice can be a great way to leave your mark on the world and ensure that the causes you care about can continue to operate and help others.
It is typically a good idea to learn lessons from those who have gone before us in Lee County, Florida in order to avoid the same mistakes they have made. This is particularly true when a person who is in the public eye passes away; useful lessons can be learned from their estate planning.
Estate planning in Lee County, Florida is not just for the elderly. It is a good idea for all adults to have a will in place stating what they would like to happen to their estate should they die. Of course, young adults and even middle-aged adults may think they are invincible and will live to a ripe old age, but the truth is life can throw all sorts of curve balls at us. It is better to be prepared and know that your loved ones will be taken care of instead of leaving them in a mess after your death. As time passes and your circumstances change, it is also important to revise your estate plan.
Power of attorney can be invaluable to have in place should a person living in Lee County, Florida become unable to make decisions about finances and health care. The person who is given the power of attorney should be someone that the giver trusts to make those decisions. In order to give someone power of attorney, the giver must be of sound mind and able to understand the estate plan. If the giver is not of sound mind when the documents are signed, it can make the power of attorney null and void.
It is not uncommon in Lee County, Florida to hear about people contesting wills and getting into family fights or filing lawsuits over personal property that was once owned by the deceased. In order to avoid this, those who are going through the estate planning process should always document in writing when they give something that is either sentimentally or monetarily valuable. If this transfer is to be done after the person dies, it should be clearly outlined in his or her will. This can ensure that the person who was intended to get the item actually gets it.