Have you recently been thinking about your future? Have you thought about your retirement, your business, providing for your family and what taxes you will need to pay? Will you have enough money for whatever the future holds for you? Has the need for creating a Florida estate plan entered into your plan? It should. In fact, with a successful Florida estate plan created with the expertise of your Florida estate planning attorney, he can assist you in getting yourself, your family and your legacy ready for the future.
If you have been putting off creating a Florida estate plan, you are not alone. Research tells us that only one in three Americans today have a last will and testament. As stated in the opening paragraph, all adults need to decide what we want for the future; for ourselves, our family, our business, and our legacy. We want to share with you six tips you need to know for a successful Florida estate plan that you may not have considered.
1.What documents are included in a Florida estate plan? Documents in a successful Florida estate plan include: A last will and testament, durable power of attorney, health care surrogate, living will, HIPPA and a preneed guardian. Your attorney may also suggest a trust. Each of these tools are important to you and your future, and together they form an estate plan. There may be other components that each resident of Florida needs and your experienced Florida estate planning attorney can help you create an estate plan that reaches your goals now, and in the future.
2. Do you have a team of professionals to help you achieve your future goals? As you plan for your future you should not only find an experienced Florida estate planning attorney, but also other professionals. For example: a Certified Public Accountant, a life insurance agent, a financial planner and a banker. In addition, any of the physicians you meet with on a regular basis. This team can support you in reaching your lifetime goals. You need to think about what you need now and in the future so that with the guidance of your Florida estate planning attorney and your team you can be prepared for any crisis, family need or unexpected events that may occur.
3. Do you have a plan in place in the event of a lifetime crisis? Anything can happen in a moment, are you prepared? With a Florida estate plan in place you will have the legal documents you need if you are in a car accident, diagnosed with a disabling disease or not able to pay your bills due to illness. An estate plan lets you plan now for lifetime crises and ensure that you and your family will be protected.
4. You need to choose trusted decision makers. One of the most important decisions you can make in your estate plan is to choose the person or persons to be your agent or decision maker in case you are unable to speak for yourself. With the assistance of your Florida estate planning attorney you will implement the legal documents needed to give your decision makers the legal authority they must have in order to help you in a crisis.
5. Now is the time to make plans for your possible long-term care needs. Were you aware that long-term care can be part of your estate plan? A long-term care crisis, which could include a disabling accident or the effects of a long term disease, can happen at any time and at any age and it should be actively planned for as a part of your estate plan. What type of care would you want? Would you be able to afford it? By knowing the ins and outs of what is available to you, you will be able to prepare in advance.
6. Are you aware that each state has laws regarding what an estate plan can and cannot do? It is important to know the state laws and tax consequences for your estate on your estate plan. Because every state is different we highly recommend you find an experienced Florida estate planning attorney. Your attorney can help you navigate the nuances of your estate plan to reach your goals.
We know this article may raise more questions than it answers. Let us help you create a successful estate plan that will care for you both now and in the future. At the Perlin Estate Planning & Probate our credentials enable us to provide a multi-disciplinary approach to our legal services. By building relationships with our clients, we are also able to understand each client’s needs and desires, and we support such goals through thoughtful, comprehensive planning techniques. We encourage you to contact us and schedule a meeting.