ESTATE PLANNING CAN PREVENT LOVED ONES FROM FEELING LOST
Oct. 23, 2018
No one wants to end up in a situation feeling lost about how to handle a certain predicament. However, if a loved one dies without having done any estate planning, it would be easy for surviving Florida family members to have no idea about how to settle the estate. Certainly, state laws would come into play, but even those laws could make family members feel unsettled.
Rather than leaving loved ones in the dark or left to sift through the remaining affairs of an estate without direction, parties may instead want to make their wishes known. Estate planning can help people explain their wishes and give surviving family instruction on how to settle the estate. However, according to recent surveys, only four out of 10 adults have even made their wills. This means that a number of families have no instruction to go on in the event that a sudden, fatal event occurs.
Of course, some individuals may put off estate planning because they think it is too complicated. Fortunately, many of the steps are rather straightforward. For instance, parties can inventory their assets, review their accounts that may have beneficiary designations, obtain valuations of certain property and take other actions that often have predetermine steps for completion.
Still, even with set instructions, some people may find estate planning intimidating. Luckily, it is not a process that has to be finished on one's own. Interested Florida residents could further explore their estate planning options by speaking with legal professionals to better understand the steps they may need to take to create the plans that best suit their needs.