People often delay estate planning because they assume it’s not necessary for their stage in life or their level of wealth. This process is not something only for the rich and elderly. Most Florida adults can benefit from the protections provided by getting an estate in order through drafting certain documents. These are steps that allow one to have more control over his or her assets and money in the future.
While certain financial and legal documents are important, it is also critical to talk through plans with loved ones and beneficiaries. First, consider the ages of the children. Young children who are still minors probably don’t need to know significant details of the plan, but older children who may have to make choices and settle the estate later on do need to know these things.
Conversations about estate plans should be ongoing. Life changes, and an estate plan will likely change over time, too. It is important to discuss these things with adult children, especially if these changes affect them. Clear communication about goals and preferences can help loved ones and beneficiaries treat assets, health care decisions and settlement of the estate according to the decedent’s wishes without unnecessary complications.
If a Florida adult wishes to get his or her estate in order, it is helpful to speak with an experienced Florida estate planning attorney. Experienced guidance can reveal what steps are necessary for a strong plan that allows one to look to the future with confidence. An attorney can also help a family understand what children and heirs should know for when it is time to settle the estate.