Why You Need An Estate Plan

When someone dies in Florida, the law immediately assumes that title to all of that individual’s assets, as well as responsibility for the debts, transfers to their “estate.” By law, your estate has literally created the instant you pass to ensure your property and assets are legally transferred, hopefully, according to your wishes.

Without a plan of your own in place, the state has generously agreed to provide its own. Besides not matching your desired outcome, this is likely the most expensive way to transfer your assets.

Reasons Why An Estate Plan Would Benefit You

Having a comprehensive estate plan in place is an essential step towards protecting your assets, providing for your loved ones, and ensuring your final wishes are fulfilled. Here are some reasons why you need an estate plan:

• Put your wishes above Florida’s intestacy laws: If you don’t have an estate plan, your assets will be distributed according to the state’s intestacy laws when you pass away. This process might not align with your intentions and wishes.
• Protect your children: If you have young children, an estate plan lets you nominate a legal guardian to care for them, as well as make provisions for their financial support through trusts or asset distributions.
• Simplify the probate process: A well-structured estate plan can streamline the probate process for your loved ones, providing instructions and legal protections to transfer your assets efficiently with reduced court oversight.
• Appoint decision makers you can trust: Through durable powers of attorney, health care directives, and living wills within your estate plan, you decide who will make financial and medical decisions on your behalf if you become incapacitated.

With an estate plan, you set a framework for how your estate would be handled. Why let others dictate what happens to your assets when you can set your own instructions in documentation?

Start Making Your Plan Today With Our Legal Guidance

Call The Law Office of Mary Beth Kelly, LLC, in Lake Mary at 407-536-6901 or send an email to discuss the benefits of estate planning today. I have more than 14 years of legal experience as an attorney, which is part of four decades working in the legal industry. Trust me to secure your assets and your loved ones’ future.