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January 2016 Archives

Estate planning may help Florida residents with long-term care

Though many Florida residents likely do not want to imagine themselves becoming seriously injured or ill in their old age, it is a situation in which many individuals may find themselves. As a result, they and their families could face considerable expenses relating to long-term care, and if individuals have not planned for such costs, they may face a considerable burden. Therefore, addressing long-term care plans during the estate planning process could be useful.

Life changes could affect estate planning in Florida

Many Florida residents may have already taken steps to create their estate plans. Following through with such action can be exceedingly beneficial. However, if an individual does not continue to keep wills and other estate planning documents updated throughout his or her life, issues could arise. There are various instances in which updating estate plans could be prudent.

Florida residents may want to consider living trust trustees

When Florida residents are making their estate plans, they may consider creating trusts in order to address how certain property should be taken care of after their deaths. A living trust can be particularly helpful to individuals wishing to avoid probate and/or to securely leave items to designated parties. However, when creating trusts, it is important to appoint trustees,

Durable power of attorney may be useful to Florida pet owners

If Florida residents are concerned about what will happen to their pets in the event of incapacitation or death, they may wish to plan ahead. By making arrangements through estate planning, interested owners may be able to detail how they wish their pets to be cared for should they no longer be capable. In such cases, having a durable power of attorney could be helpful.

Estate planning could be a gift to Florida residents

Many Florida residents may not be aware of the many benefits that can come along with an estate plan. It was recently reported that approximately 40 percent of individuals in the Baby Boomer generation have not created a will. This part of estate planning can come in handy when individuals want to specify which of their loved ones should receive certain property.

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