Can poor Florida estate planning really hurt the future of my children? Yes! Right now you provide for their every need. When you think of all the things you do for them on a weekly, if not daily basis, it may surprise you to learn that it is not enough because, what about their future?
You know that you actively provide for your children on a daily basis. Your children, whether they are minors or adults, rely on you and it is your job as a parent to plan forward to protect them from the unexpected. Sadly, research tells us that less than half of all Americans have an estate plan. Without a Florida estate plan in place, that prepares for a future where you may not be there to support your children, their future could be impacted.
So, what should you do? How do you get started? You should start with contacting a Florida estate planning attorney and creating an estate plan. We would like to share a few ideas that you can use.
1. You need an estate plan now. Creating an estate plan may sound simple, but thinking through what you want for your estate plan is not easy. However, by working with an experienced Florida estate planning attorney he will be able to guide you through the process to ensure that both your lifetime and end of life wishes are addressed. For example, if you are in a car accident, who would pay your bills? Or authorize emergency surgery? Or take care of your minor children? Not only can your estate planning attorney help you answer these questions but he can ensure that you have the legal documents in place that you will need to authorize your intentions.
2. You need to plan for your minor children now. If something should happen to you and you become incapacitated or pass away your estate plan for your minor children will deal with issues such as custody and money management. You need to decide who will be in charge of their person as well as the monies you may leave to them. If you are married, you and your spouse need to be in agreement on this decision. It is absolutely essential to start answering these questions before a crisis arises.
3. You will have issues to address if your children are adults. How do you want your legacy to continue on in your adult children after you are no longer here? Your experienced Florida estate planning attorney will work with you to address important issues such as whether future grandchildren should be included in your estate plan or not, as well as, put protections in place should your adult child suddenly become disabled or go through divorce or bankruptcy.
4. You will want to limit any potential for conflict. Having a strong estate plan in place will keep any conflict within your family at a minimum. There is no question that a well written and correctly executed estate plan can reduce a number of potential challenges and confusion that could otherwise arise.
5. You should work with a Florida estate planning attorney who is experienced in this area of the law. There is no substitute for experience and knowledge in this area. We know that you could simply create a form, however, this is no way to protect your children. You need to work with an experienced attorney in Florida who will be able to guide you to reach the solutions you want for yourself and for your children.
At David H. Jacoby Elder Law Advocate, P. A., we are focused on providing thorough, ethical, and timely solutions for our clients and their loved ones. We encourage you to contact us and schedule a meeting with us.