THINKING ABOUT LOVED ONES WHEN ESTATE PLANNING
Oct. 22, 2019
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.
Thinking about the loved ones they will leave behind can be a positive aspect of estate planning for Florida residents. They can focus on the fact that creating a plan can give them the opportunity to name guardians for any minor children they have to ensure that they are well taken care of. Additionally, they can make their wishes known to prevent their older loved ones from having to make difficult decisions.
Of course, not all loved ones being left behind are people. Some individuals may have beloved pets that they want taken care of after their passing, and they can address that desire in their estate plans. A pet trust could allow a person to leave funds that should be used specifically for the continued care of their pets.
Many people have uneasy feelings thinking about their eventual demise, but planning ahead can bring about more peace of mind that some Florida residents may realize. If the idea of estate planning seems intimidating, individuals can start small and work their way up to creating a comprehensive plan. It may also be important to keep in mind that plans can -- and should -- be changed and updated later.