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Estate planning critical for all adults, especially after divorce

On Behalf of | Nov 21, 2018 | Estate Planning |

Following divorce, it is easy for both men and women in Florida to feel overwhelmed financially. Therefore, it may come as no surprise that many divorced individuals put estate planning on the back burner. In fact, even people who are not divorced have a tendency to postpone estate planning. However, creating an estate plan is critical for protecting one’s assets long term.

Research shows that about 60 percent of people in the United States lack estate plans. Part of the reason for this is that many individuals falsely assume that the next of kin automatically inherits a deceased person’s assets. The reality is that this may not always happen.

If people die without wills, state law will determine how their assets will be distributed. Unfortunately, what ends up happening may not necessarily be in alignment with what the deceased parties would have wanted. In addition, the process of trying to figure out who will get which of the deceased individuals’ assets may spark conflict among surviving family members, thus causing a rift that may become permanent.

Creating a will is certainly important, but having an attorney in Florida create one — rather than attempting a do-it-yourself one — is just as critical. After all, without professional help, asset owners can easily overlook essential aspects of estate planning in today’s society, especially with estate planning laws constantly changing over the years. An attorney can provide asset owners with the guidance they need to draft estate plans that reflect their wishes and consider their loved ones’ best interests.

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