estate planning Archives

Is it time to review and update estate planning documents?

The beginning of the year is a time when many people in Florida and across the country begin thinking about how they can make improvements in their lives. For some, the start of a new year may be a catalyst for reviewing certain important matters, like their estate plans. Reviewing and updating estate planning documents is a wise step, and it can help avoid some of these common mistakes.

Thinking about loved ones when estate planning

When the idea of creating an estate plan comes to many people's mind, they may immediately think of the less-pleasant aspects. For instance, they may think about the fact that they will die or that they will leave their loved ones behind or any number of similar issues that could cause them to put off estate planning. However, if they focus on the benefits instead, they may be able to create useful plans.

Estate planning can bring more comfort than some think

Creating an estate plan has many benefits for both the person making the plans and his or her family. Of course, it is common for people to put off estate planning for various reasons, but understanding the benefits of having a plan may encourage Florida residents to get started. In particular, having an estate plan could prevent confusion and conflict.

Facing a cancer diagnosis? It may be time for estate planning

No one wants to go to the doctor for a checkup or due to feeling ill and receive a diagnosis of cancer. Unfortunately, numerous people in Florida and across the country receive such devastating news often. This type of information could cause many people to put their life affairs into perspective and may even have them considering estate planning.

Putting off estate planning is not a wise step

Florida residents and people across the country often put off important tasks because they believe they can complete them later or that they are not necessary to complete. Commonly, this belief can stem from the fact that many individuals have the wrong information regarding important life steps, such as estate planning. Too many people continue to believe that they do not need estate plans or that they can get away with putting minimal effort into planning, and that can cause problems.

DIY estate planning may not be better than not planning at all

Some Florida residents may believe that they can complete any task without spending money on professional help. While this DIY approach may work in many situations, it is not always wise when it comes to estate planning. An estate plan can be effective at providing instruction for family members when they need it most, but if it is not created correctly, it may only cause complications.

Wills and trusts both make useful estate planning tools

Some people may think that having an estate plan is something that only applies to elderly people. However, that is far from the truth. All Florida adults can benefit from estate planning, and while these plans can have personal benefits, they can also benefit surviving loved ones in many ways.

The reasons for estate planning outweigh excuses for delays

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.

Estate planning still important for adults without children

Whether Florida residents did not have children by choice or because of the cards life handed them, they likely still have led fulfilling lives so far. However, individuals who do not have kids may wonder whether they should bother with estate planning. They may not think the process is necessary because they do not need to appoint guardians or ensure that assets are protected for their kids, but estate plans can involve much more than just those topics.

A 2nd marriage means revisiting estate planning

Getting married is often a fanfare occasion for many Florida residents, even if it is not for the first time. Still, a second marriage can bring many life changes, and whenever such major events occur, it is important to update estate plans. Estate planning is an ongoing process, and while updates should be made regularly anyway, doing so after a significant life change is wise.

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