Creating an estate plan is an essential step for everyone in Florida. While many think of this task as something to complete later in life, it is in fact a process any adult can complete no matter their age. Taking the time to create an estate plan helps ensure that your wishes are known and followed in the event of your death or incapacitation.
Creating a will
While an estate plan is comprised of various documents, a will is an essential element of an estate plan. This document spells out how your property and assets will be disbursed. Without a will, the probate process will ensue, resulting in the probate court determining the disbursal of property and assets.
A will does not only memorialize your wishes when it comes to passing your property to heirs and beneficiaries, but it can also help your loved ones avoid the cost of probate and the time it takes to complete the probate process.
Life events and updating your will
Even if your life has gone to plan, an estate plan is unlikely to remain untouched after its creation. This is because life events often trigger the need to update your will and entire estate plan. Whether it is a marriage, birth of a child, divorce or large inheritance, updating a will helps ensure the proper beneficiary is named and the correct person receives your property and assets in the event of your death.
It is never easy to think about death; however, the law firm of Cynthia I. Waisman, P.A. can help you navigate the process of drafting a will and creating an estate plan. By understanding your options and how best to protect your wishes as well as your property, you can create a will that satisfies your current and future needs and wishes.
