Floridians who are vigilant about their estate planning needs will want to cover all the bases as efficiently as possible. For many, that includes detailing how they want any potential end-of-life issues handled. This is where a living will is important. Many will understand the basics of estate planning with wills, trusts, asset protection and more. They might not understand what a living will is and, more critically, what it does. Knowing the law for this is a key factor in having a fully comprehensive document that addresses the person's goals. Also essential is legal assistance.
It goes without saying that Floridians will want to make certain their loved ones are shielded and get the maximum of their inheritances when an estate plan is created. That can be accomplished through wills, trusts and proper implementation of asset protection strategies. For those with significant assets, the new Trump Administration tax plan was a boon when trying people were seeking to provide loved ones with large gifts and avoid onerous tax implications.
Florida residents need to consider a wide variety of assets when they are putting together an estate plan. From houses to retirement accounts, investments to personal property, estate plans can lay out a person's desires for how those assets should be passed on to others. However, here in Florida especially, there may be many people who are wondering, can a timeshare be part of an estate plan?
Florida residents want to protect their families. However, many times, these protective thoughts don't include estate planning. Why? Well, perhaps it is because some people think that the estate planning process is too complicated, or they think they don't need any estate planning documents because they don't have significant assets. Those thoughts are wrong, on both accounts.
There are many Florida residents who may think that estate planning is a task for "old" people to take care of. However, this couldn't be further from the truth. In reality, everyone - young, old, married, single, rich, poor - could benefit from having an estate plan in place. Young couples, in particular, could benefit from having an estate plan.