Estate planning can provide peace of mind for anyone looking to secure their assets and leave behind a legacy. It also gives older adults the flexibility of putting someone in charge of their healthcare and financial decisions.
Just about anyone can benefit from estate planning, but it can be hard to take the first step in these major life decisions.
Although estate planning can be an uncomfortable subject, knowing the answers to some common questions will help you understand the process and take the first steps toward planning your estate.
An estate planning attorney in Daytona Beach can help you determine the best course of action.
Estate planning, in simple terms, is the process by which you prepare your assets for when you pass away. Assets can include any bank accounts, vehicles, property, and personal items of value.
Seniors can also make end-of-life decisions, including:
By planning and preparing for your legacy, you can make sure your assets go where you want them to.
While a will is one way to help determine what will happen to your possessions and assets after you pass, it's just one part of the estate planning process.
Estate planning has many moving parts, and a well-planned estate should include a will or a trust to ensure property and assets are accounted for.
Estate planning involves navigating the complex legal system. It’s a delicate process that can become tied up in different laws and statutes concerning property, money, guardianship, and other factors.
Complications may arise in validating documents, clearing up financial disputes, and working alongside third parties.
Estate lawyers can help resolve these problems and help ensure your estate planning is a smooth and easy process.
If you don't leave behind a will or trust, your assets will be distributed according to Florida probate laws. In this scenario, you won’t have a say in who gets what.
By not planning your estate, you leave important decisions in the hands of the courts. This can lead to problems down the road for your loved ones.
You don’t have to be rich to start planning your estate. If you’re a senior living in Florida, consulting with an established wills attorney in Daytona Beach can be the first step in preparing your legacy.