Florida Estate Planning Lawyer Blog
The Princeton Business Journal had an interesting article on Common mistakes that your Estate Planning Lawyer can help you avoid
Without a will, living will, durable powers of attorney for healthcare and property or Letters of Guardianship, the state will likely decide the distribution of your assets and the caring of your loved ones. A Florida estate plan should clearly define the distribution of your assets, how and if care will be provided in the event you cannot exercise control over your medical care and who will act as the guardian for your children, dependents or for yourself.
Without a Florida estate plan you may:
• Not be providing for your family when you pass.
• Not be protecting your estate from estate taxes.
• Not be designating beneficiaries on assets.
• Not understand and plan for Medicaid, Medicare and long term care.
Princeton suggests Due diligence. When selecting a Florida Estate Planning Lawyer, you should check to make sure they spend a significant portion of their time and resources on Estate Planning. Otherwise, the end result could be disastrous and financially devastating.
Ask pointed questions, such as: What percentage of your practice is devoted to Florida estate planning? Will you consult with my financial planner to review all aspects of my wealth? If you are not provided with clear answers move on to the next candidate.