Many individuals in Florida realize the importance of planning for the future. However, estate planning often gets placed on the back burner. Unfortunately, failure to create wills, trusts and other estate planning documents may cause conflict among surviving family members when one dies. Here is a glimpse at how asset owners can decrease the likelihood of family discord after they pass away.
First, it is critical that asset owners name the most appropriate executors. People usually name executors according to their family hierarchies. For instance, the child who is the oldest, or the sole male child, may end up with this responsibility. However, the most important consideration is whether the individual is scrupulously ethical, and is truly responsible and organized.
Second, it is critical to include all personal property in a will. This is because even small items — ranging from childhood toys to holiday decorations or even costume jewelry — can trigger significant family fights. Any item that carries an emotional or sentimental attachment can even stir up rivalries from years ago and result in lifelong rifts.
Estate planning is often postponed, simply because people in Florida and elsewhere prefer not to think about the prospect of death. In some situations, people simply lack the time to navigate estate planning on their own. The reality, though, is that death can happen at any time. For this reason, it is a wise move to create a will, trust and other estate planning documents as soon as possible. An attorney can provide asset owners with the direction they need to complete this essential task both quickly and efficiently in the Sunshine State.