No one can predict the future, but by having certain plans in place, a Florida adult can maintain control over certain legal and financial matters. Failure to have an estate plan can negatively impact families and leave loved ones facing complex legal processes. The recent deaths of Queen Elizabeth II and actress Anne Heche provide valuable lessons in the importance of long-term planning and what can happen if someone skips this step.
The estates of celebrities and royals
Most adults do not have the extensive estates of a celebrity or a member of the royal family. However, there are still lessons to learn from each of these individual situations. For example,
Queen Elizabeth II had an extensive and complex estate plan to address her complex estate after her death. Consequently, her family, loved ones and other parties had clear expectations about what she wanted and how her wealth and property should be distributed.
However, Anne Heche died unexpectedly without an estate plan in place. Her adult son will have to go through a complex court process to get designation as the administrator of her estate and to gain guardianship of his younger brother. This could take months to complete.
Avoiding problems and complications
One of the most important benefits from having a complete estate plan is the knowledge that one’s interests are secure. It also provides peace of mind that comes from knowing that family members will not have to face the complex process of settling an estate without a plan. It may help to speak with a Florida estate planning attorney about the specific documents one may need in his or her plan.