What Is The Best Age For Estate Planning?
A Florida estate plan is a critical tool for each of us to have. Estate planning Florida allows us to think about what we want for ourselves, our loved ones, our business, and our legacy. It is about more than what happens at the end of our lives, although that is an important part of the process. Estate planning also makes us answer the tough questions including, but not limited to, what should happen if we no longer have the capacity we need to make our own decisions.
Understanding you need a plan is the first step forward to plan for your future. The next logical question to ask may be: When is the right age to plan your estate? As Florida estate planning attorneys, this is a question we are frequently asked, and we want to share five key items with you.
- When you reach the age of majority. While you might think your 18th birthday is too young, it is not. Without an estate plan in place, there is no one who has legal authority to make decisions for you in the event you are in a car accident or other crisis. In other words, no one will be able to pay your bills, access your bank accounts, or talk to your doctors. Your Florida estate planning attorney can work with you to make an estate plan that will protect you and put the people who you want to be in charge of you in case of a crisis. Your Florida estate planning attorney will also talk to you about how to create a legacy and plan for a time when you are no longer here.
- When you get married. Planning for a time when you will share your life with another person is exciting. It is also a time to think about how you want to protect and provide for each other. There is no better way to do that than with a Florida estate plan.
- When you have a child. Planning becomes even more critical when you have children, especially minor children. Who should care for them if something happens to you? When should they inherit? How can you provide for their future if you are no longer here? These are the questions your Florida estate plan can answer when you work with a Florida estate planning attorney.
- When you inherit. Whether you are coming into a small or large inheritance, it is important to protect it. The person who left you this money may have had clear instructions for you that you want to follow, or you may have inherited through a messy process that you do not want others to go through. No matter your reason, this is an important time to meet with your Florida estate planning attorney and plan forward.
- When you start a business. During your start up process, you want to consider all the ways to protect yourself, your family, and your business from what comes next. Your Florida estate planning attorney can help you not only design your Florida estate plan but may be able to advise you on your business planning as well.
We know this blog 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.