When I ask people if they have an estate plan, I often get responses such as I'm not wealthy, so I don't need a plan, or I don't have an estate, or why do I need a plan at all? Doesn't everything just go to my spouse and kids?
These are common misconceptions regarding estate planning. As an estate planning attorney, it is my recommendation that everyone – regardless of age, wealth, and family status – should have an estate plan. Particularly in these times, where we have seen that things can change so quickly, having a plan has never been more important.
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:
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.
Andrew E. Gindea is an Associate Attorney at Sachs Sax Caplan, P.L. practicing in the Estate Planning and Probate Litigation Group. Prior to joining our firm, Mr. Gindea has had extensive experience practicing Estate Planning and Asset Protection. Learn more about Andrew and how to work with him HERE.
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