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Critical components of a prepared estate plan

On Behalf of | Aug 9, 2019 | Estate Planning |

For many people in Florida, the idea of planning their estate seems a bit unimportant especially if they are at a point in their life where the chances of them dying seem relatively slim and unrealistic. However, there is never a bad time for people to begin thinking about their future and their willingness to take initiative can provide them with confidence, protection and satisfaction.

Planning an estate has many components and people can select the order they wish to begin planning their future by prioritizing their wishes and the things that are important to them. Experts warn that people who do little to inform their families of their final wishes will rarely get what they had wanted. In fact, their families could be left confused and in disagreement over what the deceased would have wanted. In serious cases, costly probate could be undertaken and the courts will be at will to decide where the deceased’s assets, personal belongings and property will go.

Some of the most critical parts of any well thought out estate plan include things like a health care directive, instructions about funeral arrangements and burial wishes, personal letters for loved ones, a will containing distribution instructions, important documents like a marriage certificate and a collection of passwords and other sensitive information that will give surviving family members access to important personal accounts. People who actively collect, organize, file and update this type of information throughout their lifetime, can provide comfort, clarification and reassurance for their surviving loved ones after their death.

If people are ready to begin coordinating their end-of-life wishes, an attorney can help. With insight into what can be done to customize an estate plan, people may be able to optimize their efforts with the assistance of a legal professional.

 Source: Yahoo! News, “Why You Need to Make a ‘When I Die’ File – Before It’s Too Late,” Shoshana Berger, Aug. 1, 2019