What Is Estate Planning? Do Most People Even Have An Estate To Plan For?
Unfortunately, the word “estate” can throw people off; we never use that word in regular discussions and it involves planning for your own death, which nobody likes to do. There are several things that people need to do when they are planning for an efficient transition of their assets from themselves to their family after they die. They include a Will, designation of power of attorney and/or healthcare surrogate and possibly a Living Will.
Why Do People Need An Estate Plan?
In order to make sure that one’s family is taken care of and provided for after their death, they need to create an estate plan.
What Happens To My Assets If I Do Not Have An Estate Plan Or A Will In Place?
Many people believe that if they do not have an estate plan or Will in place when they die, then all of their assets will go to the state or to the government, which is absolutely not true. Their assets go to their family and if there is an estate plan, which includes a Will, this is your opportunity to set the rules for the transfer of those assets, including who inherits and who does not inherit.
For more information on Estate Planning In The State Of Florida, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (727) 777-5767 today.
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