3 New Years Estate Planning Resolutions to Make

3 New Years Estate Planning Resolutions to Make

As we usher in the New Year, it is a time of new beginnings and setting goals that improve our lives. Amid your resolutions for health, fitness, and personal growth, it is equally important to consider the well-being and security of your estate. Although Florida estate planning might not be the first thing that comes to mind when you think of New Year’s resolutions, it is undoubtedly one of the most critical steps you can take to ensure the protection of your assets, your person, your business, and the well-being of your loved ones. 

Whether you are starting from scratch or updating your existing Florida plans, the New Year is an ideal time to reflect on your life’s changes and how they impact your future wishes and goals. From creating a revocable trust for flexibility and avoiding probate to ensuring your health care decision maker choice is up-to-date, these resolutions can help safeguard your legacy and provide peace of mind. 

We know you may have questions on just where to start when it comes to your Florida estate planning. Let us share three key estate planning resolutions that can set the foundation for a prosperous and secure future for you, and what you care about most.

  1. Create or update your Florida estate plan. Your estate planning is the cornerstone of security in your life. If you have not created one yet, now is the time. Your Florida estate plan contemplates and plans for life’s uncertainties. From detailing how your assets should be distributed in the event of your passing and who will care for your minor children to finding someone who can pay your bills when you are on vacation out of the country or run your business if you are in an accident, your Florida estate plan is critical to your future security. 

If you already have a Florida estate plan, now is the time to review it with an experienced Florida estate planning attorney to ensure it reflects your current wishes and goals for your legacy.  Significant changes like marriage, divorce, the birth of a child, or acquiring significant assets not only warrant an update to your Florida estate plan but a discussion with your experienced Florida estate planning attorney on what your next steps should, and could, be.

  1. Establish planning avenues you may not yet have considered.  As the New Year unfolds, it is an opportune time for you to reassess your Florida estate plans with a fresh perspective. Your experienced Florida estate planning attorney can guide you through novel planning avenues that may not have been previously considered. By delving into the intricacies of trust agreements, charitable tax planning, and establishing a lasting legacy, your experienced Florida estate planning attorney can provide you with comprehensive strategies tailored to your unique situation. Whether you are looking to optimize your tax benefits through charitable contributions or ensure your legacy is preserved for generations, your experienced Florida estate planning attorney can offer the expertise and foresight needed to make informed decisions, securing your future and peace of mind.
  1. Plan early for incapacity and crises. While it is uncomfortable to think about, planning for potential incapacity and an emergency is a crucial aspect of estate planning. This involves creating powers of attorney for both healthcare and finances, as well as trust agreements specially designed to reach your goals. Your healthcare documents can allow you to designate someone to make medical decisions on your behalf if you are unable to do so. Similarly, a durable power of attorney gives someone you trust the authority to manage your financial affairs. Ensuring these documents are in place as a part of your comprehensive Florida estate plan provides peace of mind that your wishes will be followed and that your affairs will be handled according to your desires.

The New Year is a perfect time to set important resolutions for your Florida estate planning. By planning forward you can ensure that your wishes are respected, and your loved ones are protected. Do not let another year pass without securing your legacy. 

We know this article may raise more questions than it answers. Our estate planning law firm takes a very different approach from what you might have come to expect. Our goal is to create lifelong relationships with each of our clients, to guide and manage your legacy for the rest of your life. Please contact our offices in Stuart and in Palm City to learn more.

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