Many Florida residents may consider creating estate plans only to not move forward with the process. The reasons for this hesitation can vary, but commonly, people think they have time to create plans later or that they do not even need these plans. However, the reasons for estate planning vastly outweigh the excuses for not planning.
For instance, an estate plan does not just address a person's assets and distribution of wealth. Individuals can make plans to ensure that they will be properly cared for in the event that they cannot care for themselves or make important decisions for themselves. Estate plans can include power of attorney documents that give chosen parties the ability to make vital decisions regarding money or health care. Additionally, individuals can create advanced directives that detail how they want their care handled in particular scenarios.
Estate plans can also allow individuals to continue supporting their favorite charitable causes if they wish to do so. Planning ahead can give interested parties the opportunity to choose the charities they want to support, what assets they want donated, when those donations should occur and how the assets should be used. Numerous individuals may not even know that they can incorporate charitable giving into their plans.
The benefits of estate planning are far-reaching, and Florida residents who have considered planning but have not yet started may want to consider finally taking that step forward. Understandably, parties may not know where to start, but they can obtain help with the process from knowledgeable attorneys. Obtaining legal counsel could help interested individuals gain reliable information about their planning options.