As people are living longer and leading healthier lives, many have put off estate planning. The thought is that the task can be saved for another time, “when needed.” However, securing a comprehensive estate plan now helps you and your family accurately navigate the future. Further, such plans are best started in the absence of crisis or concern.
Thankfully, there’s no need to face the sometimes-confusing process of estate planning on your own. Instead, when you partner with a skilled and qualified attorney, you get the peace of mind that your loved ones will be protected no matter what might occur. Get started on your estate plan with these suggestions:
Understand Estate Planning Basics
There’s often confusion about the word “estate” in this term. Some people think the process is reserved for only the very rich, or those with complex assets. In fact, everyone can and should have a comprehensive estate plan. That means no matter your current situation, you can get started today on building a solid framework for the future.
Fundamental estate planning items include your:
You should also gather important documents and passcodes for assets such as bank accounts and investment funds, bills and creditor information, details about utilities, and more. Start the process by partnering with a reliable attorney well-versed with probate in Holly Hill.
Draft a Detailed Will
Contemplating a future where you’re not able to personally provide for your loved ones sets a difficult and often uncomfortable scene. Still, just imagine what life would be like for your family if you leave everything up to chance. The staggering fact is that more than half of all Americans don’t have any type of will.
Avoid joining their ranks by creating a personalized will that details how your assets should be allocated upon your passing. If you have minor children, here’s where you can name a responsible guardian. You’ll also choose an executor of your estate. In addition, this is where you can choose a power of attorney who can act on your behalf should you become incapacitated or otherwise unable to make legal decisions on your own.
This might all seem cumbersome and even overwhelming. It’s nice to know, then, that expert assistance is available. Start the process by partnering with a trusted and reputable Daytona Beach wills lawyer who can help you create documentation that will protect your property and loved ones.
Perform Regular Updates
Did you become a parent recently? Perhaps an adult child has made you a grandparent. Or, a close loved one may have passed away. Maybe you got a new job, recently retired, or your financial situation has changed. All of these scenarios and more require updates to your estate plan.
Generally speaking, it’s a good idea to touch base with your probate attorney in Daytona every few years. Of course, this contact should be made immediately in the case of the mentioned life changes, or any other situation that warrants updates to your estate plan. A dependable legal advocate can also provide valuable insight into current estate planning trends and items to keep an eye on.
Include Your Unique Requirements
Contrary to popular belief, there’s no such thing as a cookie-cutter estate plan. By design, each strategy is tailored to the individual’s specific needs and considerations. That means you’ll end up with an approach that keeps in mind the best interests of you and your family. In order to accomplish that goal, however, you need a dynamic attorney who has the skills and expertise to help you fashion an impactful estate plan.
For more than 40 years, our firm has assisted countless Central Florida residents with a variety of legal needs. That includes estate planning and real estate law. In addition, we’ve built a solid reputation as the premier source of information advocacy for guardianship in Volusia County. Contact us today with any questions, and to get started on a comprehensive estate plan of your own.