Most Common Florida Estate Planning Mistakes
Estate planning is an integral part of ensuring that your family is financially secure after your death. However, even if people understand the significance of an estate plan, they can still make costly mistakes that can create serious future problems for their loved ones. That is why, in the blog post below, we will discuss some of the most common estate planning mistakes in Florida and how to avoid them.
Mistake One: Not Having a Last Will and Testament
A Last Will and Testament is a legal document that dictates who should have access to your assets and property or care for your minor children if something should happen to you.
If a person dies without a Will in Florida, their assets are distributed according to state laws of intestacy. This means that without a Will, the people you would like to benefit may receive little or nothing, while others with whom you’re not as close may receive the bulk of your estate.
Mistake Two: Creating a DIY Estate Plan
With today’s technology, creating your own estate plan is easier than ever. With a simple Google search, you can have countless estate planning templates at your disposal. Unfortunately, while you may believe this may be a faster and cheaper option, using this cookie-cutter approach may not be in your best interest. Many of these templates are either outdated or inappropriate for your situation, and as a result, they can lead to disasters down the road.
To avoid these issues, consider speaking with an experienced Florida estate planning lawyer. These attorneys can help you through this complex legal process and develop a plan that works for you and your loved ones.
Mistake Three: Not Updating The Estate Plan Over Time
Although creating an estate plan is half the battle, it needs to be updated as life changes. For instance, updating the estate plan would be a good idea if a person acquires new assets or there are deaths, divorces, births, or marriages in the family. If no significant changes have happened, you should still revisit these plans every three to five years to ensure that there have been no policy changes that could cause your Will or trust to have different outcomes for your family.
Fortunately, when you work with a knowledgeable Florida estate planning lawyer, these legal professionals can help make sure that your estate plan is kept up to date and that the information in it is correct.
Looking To Create an Estate Plan in Florida? Contact Carryl Law Firm Today
The Carryl Law Firm, PLLC, is a law firm that focuses on estate planning and probate in Florida. We aim to provide clients with a client-centric approach and dedicated and personalized solutions tailored to their needs.
If you are considering creating an estate plan in Florida or want to learn more about the mistakes people make with their estate plans, contact the Carryl Law Firm today by calling us at 954-882-4386 and speak with a member of our legal team.