Fort Lauderdale Estate Planning Lawyer
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Why Should You Speak To A Fort Lauderdale Estate Planning Lawyer?
When you want to create an estate plan, you should work with an estate planning attorney in Fort Lauderdale. Your attorney understands the legalese that must be added to your plan, and that plan can be executed when you pass away. Use the tips below to work effectively with an estate planning lawyer. There are some items you may not have considered, and there are certain items you must be careful with.
Should You Meet With Your Fort Lauderdale Estate Planning Lawyer?
You must meet with your attorney as soon as possible. Your finances or situation may change in the future, but there is no way for you to know when something terrible might happen. You can schedule time with your estate planner to discuss your options, and you will not pay until the document has been created.
What Should Be Included In Your Estate Plan?
Your Fort Lauderdale estate planning lawyer will show you a list of the things that they would add to your plan. You can pick from that list to create the best estate plan, and you can create contingencies if things change quickly. Your lawyer will use their understanding of legalese to write an estate plan that is easy to follow and execute.
You should add any money, assets, property, and business interests to your estate plan. You will dictate the exact percentage that certain people will receive, and you can state which friends or family members will be given the personal items you leave behind. You should create an exhaustive list of personal items, properties, and bank accounts that will be passed on.
If you plan to leave everything to one person, you should list all the most special items in the document since they have a very high value. If you believe certain family members will steal trinkets or collectibles, you should list those items because the probate court will want to know where those items are.
Can You Change Your Estate Plan?
You can change your estate plan at any time, and you should contact your attorney as soon as you need to make a change. You can add beneficiaries to the estate plan, or you can add physical property that must be distributed in the instance of your passing. You may even want to create a succession plan for your small business, and that plan will be added to the document.
Should You Share Your Estate Plan With Your Family?
You should not share the plan with your family if you believe that it is not a safe decision. Your estate planning attorney in Fort Lauderdale can hold the document for you, and they will execute the document when you pass. The document can be kept secret since your attorney can invoke attorney/client privilege at any time.
Additionally, you can share the estate plan with your family if they should be put in charge of managing it. You can tell your family about the plan, and you can give them the contact information for your attorney. When you do this, your attorney can guide your family through the process. This makes the transition easier on everyone, and the attorney can help your business make the transition if the succession plan must be presented to management or the board of directors.
Can You Remove People From The Estate Plan?
You can remove people from your estate plan at any time. You can exclude people from the plan as much as you like. However, you need to be aware of what can happen if angry family members, friends, or business associates are left out of your will. Your lawyer can explain the legal recourse these people have in the state of Florida, and you should plan accordingly.
You may want to give something small to everyone who would otherwise be excluded. These people then cannot claim that they were left out of the will because they will receive something. You can set up a trust that will pay for the legal defense of your estate plan, or you can set up the estate plan to void anything that was awarded due to a superfluous legal claim.
It Is Never Too Early To Start
You can start creating an estate plan at any time. You should hire your lawyer when you are young or just starting out in your career. You can adjust the plan throughout the years if you need to, and you can transfer your estate plan to another lawyer if your original lawyer retires. You can work closely with your lawyer to protect your interests, and you will avoid any issues with the estate plan after the fact. You can then share this document with your family, or you can choose to leave the document in the hands of your attorney.
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