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October 2015 Archives

Estate planning could prove useful to single individuals

No matter a person's age or marital status, Florida residents can benefit from estate planning. Even individuals who are not married may wish to consider creating a will or other estate planning documents that could prove useful in the future. If an individual does not create plans indicating how their assets should be divided, it will be up to the state to distribute assets, likely to the nearest relatives. 

Florida residents may wish to know more about estate probate

When Florida residents create their estate plans, a main concern may be making the estate distribution process easier for their families after their demise. They may want to determine who should be entitled to what assets, how funds and accounts should be distributed, and whether or not their estate could potentially avoid probate. There are certain steps that could be taken so surviving loved ones do not have to go through probate, but in order to take those steps, individuals may want to better understand the process itself.

Estate planning may help with long-term care expenses in Florida

Many Florida residents surely hope that they and their loved ones will lead long and healthy lives. However, some individuals may need long-term care as they get older. Some may suffer from mental deterioration that necessitates constant care, but they may be physically healthy enough to live for many more years. Because such care can be expensive, using estate planning to address this type of care makes good sense.

A living trust could help avoid probate in Florida

When Florida residents are working on their estate plans, they may be considering trusts. A living trust can often be a beneficial tool to utilize for estate plans that could help parties avoid having their estates go through probate. In order to do so, trusts must be funded in the proper manner, and ownership of certain assets and funds must be transferred to the trust in the proper manner.

Remarrying could mean will changes for Florida residents

It is not uncommon for individuals to have multiple marriages throughout their lives. Each marriage will likely be an adjustment for Florida residents who remarry, and it is important that adjustments to estate plans are not overlooked during this period. If a will or other estate planning document is not updated to account for the new marriage, complications could arise. 

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