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June 2013 Archives

Talk with your parents about their estate plans

If you have aging parents in Lee County, it is a good idea to make sure that they have their estate plans in order. This can help to avoid a lot of headache and possible litigation when they pass. It may not be easy to get the conversation going with your parents. It is often awkward to bring up the subject because it involves talking about what will happen after they die. A good way to broach the topic is by casually telling your parents that you have been working on your estate planning and wondered if they have done theirs.

Trusts can ensure your beneficiaries are taken care of

Planning how your Lee County estate will be divided up after you pass does not have to be complicated, but you do want to put some time into thinking things through. What will happen to the money if one of your beneficiaries dies shortly after they receive the inheritance? Are you okay with their family members receiving it? If you are not, you may want to consider putting that money in a trust. This way, the person you would like to see benefit from your estate will, and after he or she dies, the remaining funds will be directed to another person of your choosing. 

Include college savings plans in your estate planning

Many young parents in Lee County, Florida may not even think about having an estate plan. This may partly be due to the fact that many see themselves as invincible. It is true that the typical American will live past the age of 75, but accidents and illness do occur, and when they do it is important to be prepared.

James Brown's estate settlement overturned

A will should not be something that you put together in a careless manner, rather a lot of thought should be put into it to ensure that your estate will go to the people you want it to. There are numerous cases in Florida where certain members of families are intentionally left out of a will, but they go to court to contest it. In some instances, the will was not properly drawn up, so it does not stand up in court.