|As we experience the uncertainty of the ongoing pandemic many of us are seeing the consequences of being unprepared. Like most matters in life, preparation is a key component to success, and proper estate planning is no different. Engaging an attorney to prepare your estate plan ensures that you have a strategy in place to protect those that you care about most.
Many people mistakenly believe estate planning is reserved only for those that are entering retirement or the wealthy, which could not be farther from the truth. Without adequate preparation, you and your love ones are at risk of having your financial, medical and end of life decision decided by the Court instead of your directives. A properly executed estate plan enables you to select trusted individuals to manage your financial, medical, and end of life decision during times of mental incapacity. Furthermore, it allows you to direct the transfer of your assets upon your passing, and safeguard against potential spendthrift children. It is common that I am presented with families that wait until the last minute to create an estate plan.
Unfortunately, many times these families are unable to implement their plan due to capacity issues, which results in the court determining who will manage your financial and medical decisions. Failing to plan typically costs families additional professional fees and results in a default estate plan according to Florida law that is not unique to their circumstances. Now is the time to act and place you and your family first and implement of plan to ensure there is certainty during uncertain times. Stay safe, and we wish you and your family good health.