Why planning one’s estate is vital

On Behalf of | Apr 17, 2020 | Estate Planning |

Estate planning is about much more than simply making a will. Of course, the disposition of property is a key part of estate planning, but there are many more parts of an estate plan. Simply stated, not having an estate plan can cause stress and headaches for a Florida family at an inopportune time.

One of the most important things about an estate plan is that it provides help when the makers are still alive. There are advance care directives and powers of attorney that help their family make decisions on their behalf when they can no longer make sound choices. Without this, families would either struggle to make quick health care decisions or not be able to incorporate their loved one’s wishes. In addition, estate planning can keep an estate out of probate or ensure that the probate process does not drag things out for too long.

Many people hesitate to engage in estate planning because they are afraid of how difficult it may be for them. However, by being methodical and prepared, the process can go quicker and be more efficient. The key to estate planning is being organized and arriving at decisions after preparation and discussion. If there are more complex assets, it may take some time to determine a solution and put the plan in place. However, families must make the decision to begin the process.

An estate planning attorney could help families get started on this vital part of their lives. The attorney may make suggestions for the components of the estate plan. Then, the lawyer might help draft the documents for their client’s signature. Estate planning documents must be prepared correctly in order to be effective. People simply cannot afford to make a mistake when signing these documents since they may not end up being legally binding.