When doing any type of estate planning and setting up assets for your heirs, make sure that you communicate with them about your wishes and your plans for the future. A lack of communication can lead to some critical errors that may prove very costly.
Among your largest assets that you plan to pass on to your children are probably your home, a life insurance policy and a retirement account. These are important assets, but their inclusion in your will may not be as important as smaller, sentimental items that do not have nearly the same financial value.
As you do your estate planning, you need to consider your health care needs as you grow older. Things can change more quickly than you may realize, and you need to be prepared.
Your estate plan should never be an afterthought or something you throw together just to technically "cover your bases." You need to give it the proper amount of consideration and planning so that it really addresses what your family needs. Remember, this is your final chance to help them move forward with their lives, and you don't want to make any mistakes.
It can be difficult to get started on your estate planning. You are so committed to making the best possible plan for your family that you just do not know how to get the ball rolling. To help you start moving forward, take a moment to consider these three important questions:
If you are a Florida resident who is also a pet owner, you may wonder what will happen to your beloved companion animal if you pass away during your pet's lifetime. Fortunately, your worries can be alleviated by funding a pet trust for your four-legged friend.
Did you recently create a will and other estate planning documents? If so, it's important to note that you should not simply sit on them until you reach the late stages of your life. Don't put these documents in the safe deposit box and not look at them ever again. A will needs to be reviewed every couple of years and amended appropriately based on the milestones you've achieved in life.
Being chosen as the executor of an estate is nothing to sneeze at. It is an important legal role that should be taken very seriously. You never know when you might have to make decisions on behalf of the person named in the estate. That's why you need to prepare the minute you are asked to be an executor. This will make the transition period easier when the time comes to handle the affairs of the estate in Fort Myers.
If you are working on your estate plan in Fort Myers, there's a very important designation you should never overlook. That designation is who will be the executor of your will. This designation should be someone you trust will carryout all of your wishes that are outlined in your will. This should also be someone you know and who knows you, not an occasional acquaintance.
Having a discussion about your future with your spouse is never easy. You need to discuss some very difficult and uneasy topics, such as how your money will be handled upon your death and who will be the guardian of your children should you die before they reach the age of 18 in Fort Myers. Here are some tips for choosing a guardian for your children.