Tagged: estate probate

…Many consumers neglect to create an estate plan because they believe planning an estate is only beneficial for those who are wealthy. They believe this because the current estate tax laws only affect a small percentage of the wealthiest in Florida and elsewhere. However, estate planning is not only designed for wealthy people to avoid estate tax, it can also be beneficial to those who are not wealthy and make a modest income.

…Financial planning is important for preparing for the future. In Florida, this can mean a variety of things, ranging from making plans to finance a child’s college education or preparing for retirement. However, one of the most important, yet commonly neglected, aspects of financial planning is estate planning. Creating an estate plan makes it easier to distribute an estate’s assets to intended beneficiaries during the estate administration process.

…Financial exploitation of the elderly is a growing concern in American society, especially since a large number of people from the ‘baby boomer’ generation are beginning to reach retirement age. Many exploiters may see the elderly as attractive targets because they believe older people have a weaker state of mind and would be less likely to try to stop the exploitation.

…Pastors of the Southern Baptist Foundation are usually more concerned with their spirituality rather than the worries of the physical world. Although this is commendable, this may have also caused many pastors in Florida and elsewhere to neglect doing any proper estate planning. A survey recently found that almost 40 percent of pastors in the Southern Baptist Convention had no estate planning whatsoever.