When Rosa Park’s passed away in 2005 at age 92, she had a small estate but left an enormous and indelible mark on history. Before her death, Rosa Park’s created an estate plan that assigned all of her personal belongings to a charitable organization called the Rosa and Raymond Parks Institute for Self-Development.
A close friend and a retired judge were named to oversee the estate. Parks also named her close friend as a beneficiary to receive 90 percent of the estate’s royalties….
Only 45 percent of Americans today have a will. So many Americans and folks in Florida lack estate planning because many people put off estate planning and because many people overcomplicate estate planning decisions to the point where a plan is not created. While estate planning can be complicated, it does not have to be. This post will discuss a few points to encourage thought about estate planning and the appropriate choices to make for your plan.
If you have children under the age of 18, a will is important because a will can name a guardian in the case that you or your partner passes away….
When it comes to hearing words like “wills“, “trusts”, and “estate planning”, many people think of older individuals and individuals with wealth. Those associations are misguided and it turns out that everyone can benefit from estate planning, even young people.
Young folks in Florida and elsewhere tend to have fewer assets because they are just getting started in life, but that does not mean that they cannot benefit from estate planning. If something occurs to a young adult that leaves the individual unable to handle her or his own financial or medical affairs, a parent or legal guardian will generally not be able to automatically step in to make those decisions….
As the New Year starts, people in Florida should take time to review and update their estate plan. The New Year can be used to review changes in personal circumstances, the law and other factors. This post will talk about a few items to consider during the review of your will, trust and other documents that make up your estate plan. The list of items is not comprehensive.
An important tool in an effective estate plan is to select a trusted person to act on your behalf in legal and financial matters in case you suffer an illness or disability that is incapacitating….