Florida Estate Planning involves many situations where is the potential do have disputes over money or assets. Many problems arise from poorly planned and drafted estate planning and these can lead to fights amongst family members, IRS audits, and lead to high litigation costs. Focusing on your specific needs can avoid these pitfalls and can benefit those individuals with all sizes of estates.
It is important to first understand and define your objectives and resources. In order to get a custom-tailored Florida Estate Plan, a Florida Estate Planning Lawyer must be able to explain exactly what you want in terms you can understand. In some cases there are advantages in giving up control over your assets. Part of the process often involves talking with children and other beneficiaries about the estate plan and educating them on how to use it to their benefit after you are gone. Your plan can often offer your children protection into their lives from divorce or claims by creditors if used properly. In addition, many future disputes can be avoided by helping your beneficiaries to understand your goals, objectives, and reasoning behind the decisions you are making. While documents are a large part of the Florida Estate Planning process, effective communications, a clear understanding and education of all those involved will help the plan be successful when you are not there to manage it.