Tagged: will planning
May 4, 2015
…Although estate planning documents may still be valid, they may not meet an individual’s needs beyond a certain date. Those who follow estate planning trends say that if a will was created over 10 to 15 years ago, it may be worthwhile to review and update it. For instance, wills created before April 2003 may not account for new HIPPA laws, which may make it difficult for someone with power of attorney to carry out certain health care wishes.
April 13, 2015
…There are several common mistakes that Florida residents make regarding wills. Some people fail to write one in the first place, either because they consider doing so is an arbiter of their death or they simply put it off, thinking it is something to do when they are elderly. Others write wills and then forget about them, failing to update them or review them despite having major life changes.
March 11, 2014
…Human survival instincts make it natural for people to avoid death. However, many people in Florida will avoid even talking about the subject altogether. This can become a problem if it causes people to neglect creating an estate plan. A recent study has revealed that only 35 to 45 percent of people have not done any will planning, which can cause problems for their families in the future.
September 2, 2013
…A trust is used to keep assets out of probate once a person dies. This legal document places one’s assets in the control of a specific individual or entity usually chosen by the decedent. Many people in Florida and other states believe that since a trust is supposed to avoid probate, they therefore do not need wills.