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No one likes to think about their own mortality Lassana Diarra France Jersey , let alone plan for it. It is for this reason that most of us procrastinate when it comes to all things funereal. We simply don’t want to think or talk about it. But if we pass away when we are financially unprepared, our friends and loved ones will pay for our inaction.
When you die without a will (intestate), the courts decide how your money and assets will be divided. Apportionment is always based on legal and blood relationships. In the state of Florida, if a married person dies intestate, one half of the estate will automatically go to his spouse and the other half will be shared by his living descendants, if he has any. Friends and distant relatives will get nothing, no matter how close they were to the departed.
As unpleasant as it is, estate planning is necessary to ensure that your family and loves ones are taken care of after you’re gone. It also gives you the opportunity set something aside for friends and relatives that would not receive anything were you to pass without a will.
Who needs to think about Fort Lauderdale estate planning?
Because it is such a gloomy and uncomfortable subject Kylian Mbappe France Jersey , most people wait until the last minute to plan their estate. But the fact is that accidents happen every day. Even if you are in the prime of your life, it is important to plan for the inevitable as soon as possible. Furthermore, Fort Lauderdale estate planning isn’t only about money and assets and who gets what. It is also includes medical directives that explain how you want to be cared for if you are ever incapacitated and cannot care for yourself.
We know…it’s not a pleasant subject. But family members and loved ones invariably feel a lot better if they know they’re following your wishes. Failing to set them down could force them to make hard decisions they may come to regret. Worse yet, these decisions may cause friction in a family, which can lead to a rift. To avoid the unthinkable, a person must endure a little unpleasantness.
Believe it or not, it is often a lot easier to complete Fort Lauderdale estate planning when you are young, since death is most likely a long way off. Asset divisions and medical directives can always be amended or revised as live circumstances change.
The number one mistake most people make is not doing anything. Dying without a will or getting sick without any medical directives in print is a recipe for disaster for friends and loved ones. Feuds over money and assets can and sometimes do destroy families Kingsley Coman France Jersey , both socially and financially. It is not at all uncommon for siblings and even parents to sue each other when a patriarch or matriarch dies without a will.
Because the laws are constantly changing, it is always a good idea to have an experienced estate lawyer draft your will and document your medical directives. As macabre as it may be, at least the process is cheap. A full estate planning package typically starts at only around one thousand dollars. That’s not much to ensure your family’s future!
For nearly 40 years, Elliot P. Borkson has worked as an attorney and legal advisor for clients in the South Florida area. His law firm specializes in probate, estate planning, tax, and Fort Lauderdale business law. Legal guidance and advice is available to families, businesses Karim Benzema France Jersey , and individuals regarding any of the aforementioned areas of practice.
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