Some individuals in Florida may assume that the holidays are a bad time to discuss contentious topics, like wills and trusts. However, the end of the year and the beginning of a new year are actually ideal times to talk about estate planning. Here is a glimpse at why talking about estate planning is so important.
First, when people are grieving the death of a loved one, it may be difficult for them to handle the business side of death effectively. For this reason, it is wise for the loved one to put together an estate plan ahead of time. This plan will dictate how his or her assets will be distributed when he or she dies, which may eliminate conflicts that otherwise would crop up down the road.
A common misnomer is that estate planning is not essential for those who do not have large sums of money. However, even people with few assets or little income can benefit from estate planning. If they fail to create plans addressing these assets, then the state will end up dictating what happens to the few assets they have, and the outcome may unfortunately not align with their wishes.
Figuring out how to create an estate plan can understandably be challenging. Fortunately, asset owners do not have to go through this process alone. An estate planning attorney in Florida can help them to generate wills, trusts and other estate planning documents that reflect their wishes and take into consideration their and their loved ones’ best interests long-term.