Once you reach adulthood and begin establishing your life, it’s important to start making a plan for your estate, no matter your exact age. The unfortunate truth of the matter is too many people pass on without first having worked with a Florida estate planning attorney, forcing their loved ones to figure out how to divide the leftover assets in court. By making plans for your estate now, you can spare your friends and family from further pain in the future. Here are a few important factors to consider as you plan your estate.
Who Do You Want to Receive Your Assets?
One of the first things you should work out with a Florida estate planning attorney is who you would like to name as an inheritor of your estate. Many people choose their spouse and children; however, this varies from case to case. Don’t hesitate to consider and/or choose any specific person you may have in mind. Your will should be crafted exactly to your wishes.
Who Will Be Your Powers of Attorney?
There are two specific powers of attorney positions you have to assign to individual loved ones: your financial power of attorney and your medical power of attorney. These positions can go to one person or two different people. It all depends on your situation and who you trust most to make these important decisions when you are no longer able. A Florida estate planning attorney can help you come to the best decision for your needs.
What Will Happen to Your Minor Children?
Your young children may be your first concern as far as your estate is concerned. On the off chance something happens to you, you want to be sure your children are still well taken care of. One of the best ways to protect your children’s well being is by setting up trust funds for them to access once they become adults. This prevents others from using the money in ways that go against your wishes.
To make sure your will starts off on the best possible track, get in touch with a Florida estate planning attorney by calling 866-265-8100 or visiting the website.
