We believe that the majority of Florida families would benefit greatly from having an estate plan in place. Regardless of how big or small your estate is, you should want to maintain control over your assets and provide a blueprint for distributing those assets to the right people, in the right way, at the right time. In short, estate planning is about preserving your financial legacy.
The exact details of your estate plan will depend on your specific family and financial circumstances (this is why online forms are usually bad ideas). But individuals often fail to appreciate the full size or value of their estates and what could happen to their assets if there is no plan in place. Even making minimal arrangements is better than no planning at all, but you can go further and:
- Provide instructions for your care and that of your loved ones in the case of your disability,
- Avoid the hassle and costs of the probate process,
- Keep your family affairs private and confidential,
- Create protective trusts for your children, grandchildren, special needs family members, and pets, and,
- Adopt tax planning strategies that could significantly mitigate estate and gift taxes.