After creating an estate plan, many people will simply leave it and forget about it for years or even decades to come. In reality, however, an estate plan should change just as often as your life does. After all, an outdated estate plan is almost as bad as having no...
Estate Planning
3 things your personal representative should know
Once you appoint someone to serve as the personal representative over your Florida estate, there are certain things you need to tell this person so that he or she is able to do the job well. Serving as someone’s personal representative is often daunting, so the...
How to ensure that your business will live on after you
If you are a business owner, your company is an important part of who you are. But what will happen to the business when you are no longer here? You can keep the company up and running with the help of some prudent estate planning. Consider a buy-sell agreement...
Do you need a power of attorney if you have a living trust?
Even though a dementia diagnosis is likely to stop you in your tracks, you are not alone in the future you face. In fact, the Centers for Disease Control and Prevention estimates that roughly 6.8 million Americans are living with dementia. About 200,000 of these are...
What is an advance directive?
When making an estate plan, you may initially focus on how you can set things up for the future after your death. Of course, this is a crucial matter to cover, and you want things to run smoothly in terms of transference of assets and property. But did you know that...
Why is it important to choose a good executor?
Having an estate plan can help you articulate your plans for the future. Within your strategy, you can provide your family with instructions for the distribution of your remaining assets after your death. Seeing that your plan functions as you intend will require the...
What can a trust accomplish that a will cannot?
A will is an undeniably important part of a Florida estate plan, but there are limits to what you might be able to do through a traditional will. Certain estate planning tools, such as trusts, might enable you to do things a will does not, and sometimes, establishing...
What mistakes make your estate plan messy?
Creating an estate plan is already a monstrous undertaking. It will cost time, money and effort, and you may often end up tripping over unfamiliar legal jargon among other issues. But you can still streamline the process as much as possible. One way to do this is by...
Should homebuyers create estate plans?
The recent trend in the housing market has shown that supply is low, demand is high, and prices have reached a peak in a seller's market. More young people have hit the market to buy their first home, which is a big step for many. Taking that step, it is important to...
When should you review your estate plan?
When you first work on an estate plan, you may not realize one important factor: your maintenance will last longer than the creation of the plan itself. After the initial creation of the plan, you will have to continually maintain it throughout your life. But when...