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Will certain mistakes cause problems with your estate plan?

Will certain mistakes cause problems with your estate plan.pngFor most Florida readers, estate planning is an important step. Regardless of your income or the size of your estate, you know that estate planning is a critical part of ensuring the care of your loved ones in the future. It can also provide you a measure of control over what will happen to your assets after you pass away.

Tax reform and other challenges to estate planning efforts

Estate planning is an important step for most Florida readers. Despite what many people think, this is not only for people with valuable assets and significant wealth but for people of all income levels. Having even a simple estate plan in place can ensure you have control over what happens to your assets and minimize problems with your beneficiaries.

Digital assets and changes to estate planning

Florida readers know that an estate plan is always a good idea, regardless of a person's age, heath or the value of his or her estate. Estate plans can allow you to decide what will happen to your property, including everything from your home to your valuables. However, many estate plans also now include terms that address digital assets as well.

Preparing for your role as estate executor

When the phone call comes of the passing of your loved one, you may not have much time to grieve before having to get right to work fulfilling your duties as an estate executor. You may be one of the many for whom handling the final requests of a loved one is a unique and intimidating experience. In fact, you may have the overwhelming feeling of being completely out of your comfort zone.

Is probate a problem?

If you have ever discussed estate planning with anyone, you may have heard the advice to avoid probate at all costs. Maybe you took this information to heart, not really understanding the implications of probate. Without a doubt, probate is time-consuming, confusing and sometimes frustrating. However, the process is important.

Unless you execute a will, you will have no say about your assets

You probably don't normally sit around talking about your own mortality, unless you are among others in Florida who are currently suffering from terminal illness. Either way, you may also be like many people throughout that nation who prefer not to discuss such matters as it can be rather uncomfortable. On the other hand, based on recent news stories regarding famous people who died without first executing estate plans, you may already understand the importance of getting your own documents in order, regardless of your current state in life.

Caring for a special needs loved one after you are gone

There are many considerations that a Florida family must take for a loved one with special needs. From education to medical care, there are multiple factors that go into the continued care and well-being of people who cannot care for themselves. If you support and provide for an individual with disabilities or special needs, you would be wise to include his or her care as part of your estate plan.

Drafting a prenuptial agreement that stands up to scrutiny

When a Florida couple is planning a wedding, it can be difficult to think about anything beyond the wedding day itself. The excitement over wedding plans and starting life together can sometimes prevent a couple from thinking about the future and protecting long-term financial interests.