You are ready to write your will. Some of the decisions you have made were more difficult than others. In fact, perhaps even now you are second guessing your choices. It may be easier to divide your assets evenly among your children, but you want to be fair.
If you are one of the few people who followed wise advice and planned your estate at an early age, you can be proud of yourself. Your family will certainly be grateful for the time and effort you took to protect your assets, provide for your family and clarify your wishes.
When people with significant wealth start putting together their estate plans, a topic that often arises is how to protect assets. There are several options in Florida that can shield property from entities such as creditors. At Levins & Associates, L.L.C., we are adept at putting together plans that give people the best possible protection.
Teenagers who are at the brink of adulthood rarely contemplate end-of-life decisions. However, it is a wise decision to talk to you child about certain planning documents that will help both you and them have some peace of mind about the future.
When a young college student was studying abroad in Rome, he suffered a serious injury. According to the Chicago Tribune, the 20-year-old had to undergo several intense surgeries and remained hospitalized overseas. His parents flew to Italy, where they had to jump through hoops to make decisions regarding his care. Unfortunately, this is a reminder of the situation that many families in Florida and around the country could face. Putting the proper legal documents in place can ensure that a family does not have to get a court order to make medical decisions.
People in Florida and across the country who have expensive wine collections or valuable pieces of art should take a few legal measures to ensure the items are cared for upon their death. Failing to do so could mean that something of significant monetary or sentimental value could simply be sold.
In Florida and across the country, people are turning to the online world for just about everything. Pew Research conducted a survey that found approximately 85 percent of adults in the United States use the Internet in some way, such as storing personal property. The survey also found that 51 percent of adults are using online bank accounts.
Families come in all types and sizes these days, including many people who have been married more than once and who have children with more than one spouse. Although all people who have dependents should consider their estate-planning carefully, those people in the Lee County area that have two families or mixed families have even more to think about when they prepare their estate plans.
The list of reasons of why people either don’t have an estate plan or they haven’t updated it in a while can go on forever. For a lot of people in Lee County, having an estate plan can be uncomfortable because they don’t want to discuss their own death. For others, it can simply be a matter of laziness. Still, others who have a plan fail to ever get around to updating it. However, that can be a big a mistake.
Most people in the Lee County area and elsewhere know that having an estate plan is important. However, many people still don’t have one in place. Even those people who have taken the necessary steps to get their estate plan set up sometimes make costly errors that can lead to big problems for their heirs when they do pass away. In order to avoid these kinds of mistakes, it’s important to review your estate plan often, including with a qualified professional.