Why Everyone Should Have an Estate Plan

There are many common misconceptions regarding estate planning. People sometimes assume they only need a plan if they're wealthy or that everything will automatically go to their children or spouse. As experienced estate planning attorneys, we recommend that everyone – regardless of age, wealth, and family status – have an estate plan. 

Some estate plans are simple and require only a couple of documents, while other plans are more complex. The plan that is right for you should be determined by an experienced estate planning attorney and would be formulated during your consultation process.

Oftentimes, there are multiple ways to achieve the results you desire. The main goals of estate planning include:

• Designating people to make your medical and financial decisions for you while you are alive;
• Ensuring your property passes to the people you want in the percentages you want, and;
• Avoiding probate.

Clients with minor children are also concerned with designating someone to care for their children should something happen to them. While the Florida law and statutes provide for default answers to all of these situations, having estate planning documents in place can ensure that those responsible for making decisions on your behalf have an easier time doing so.

Further, depending on your life’s circumstances, you may not want the default people acting for you or inheriting from you in the way the law outlines. Having a plan really keeps you in control. It allows you to dictate and influence how your own wellbeing is cared for as well as how your family is taken care of after you pass. Schedule a complimentary consultation to learn more about the options and planning tools that are right for you.