ESTATE PLANNING CAN MEAN CREATING A WILL AND MORE
Oct. 9, 2018
Many Florida residents understand that having the right information can make a considerable difference in many situations. However, it is common for individuals to make the substantial mistake of not providing their loved ones with information on how to handle their final affairs. Estate planning could easily allow parties to instruct their family members on how to settle their estates.
It is also common for people to consider creating a will as the only aspect of the estate planning process. That is not necessarily the case, but parties can certainly choose to create only a will, which could provide various information such as declaring heirs and appointing executors. Of course, adding more documents to provide loved ones with instruction on other aspects of the estate could prove useful.
Additionally, having just a will is better than having no estate planning documents at all. Without wills, individuals are considered to have died intestate, which means that state law will dictate how their assets are distributed to family members. This type of situation could easily result in conflict among family members later or other types of issues involved with closing the estate.
Some people may think they have all the time in the world to get started on estate planning, but going through the process sooner rather than later may prove more beneficial. Gaining information on details to include in a will and the many other documents that could be used in an estate plan could help interested Florida residents decide what instruction could best help themselves and their families. Discussing their plans with knowledgeable attorneys may prove useful in creating legally binding and comprehensive documents.