Notables

…Many people in Florida and elsewhere consider their pets to be members of the family. Pet owners often want to know that their furry, loved ones will be taken care of after they are gone. Commonly, pet owners ask a trusted person to care of their pet, but sometimes the caretaker changes his or her mind when it comes to taking in the pet.

…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.

…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.

…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.

…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.

…Animal lovers know what it means to say that their pets are part of the family. There is a special bond that is formed between animals and their owners. It doesn’t matter if it’s a dog, a cat, or even a snake. The reality is that these pets are special to their masters and so it should come as no great surprise if accommodations are made for them through proper trust planning.

…When it comes to estate planning in contemplation of that journey everyone must take, it is as important to think about estate administration which will occur after you have gone. Determining where your assets will go and on what terms is not the only consideration that needs to be made. Especially for wealthier individuals, the estate does not simply get divided after your death.

…A recent story of an abandoned property may underscore for Florida readers what can happen if estate planning is avoided. A woman lived in her small 1100-square-foot home for many years. She shared the place with her husband until his death. The woman’s health declined over the ensuing years, and dementia set in.

…Estate planning is not a Herculean task, but then again, it’s not so easy, either. There are many ways to get tripped up, from drafting a confusing will to inadvertently paying more than your fair share of taxes.

Here are four areas to which people in Port St. Lucie will want to pay attention, as well as suggestions for how to avoid any possible mistakes.

…A recent court decision in another state underscores why it is important for Florida residents to engage in careful estate planning, including the necessity of periodically checking to ensure that existing plans still meet the needs of the parties involved.

In the case, an estate named an executor and alternative executor, along with a two irrevocable trusts.