Creating an estate plan is a wise decision and critical step in protecting your wishes, your family and your property. However, it is only one part of the process; you must also review these documents regularly to ensure they remain accurate and valid.
A trust is a valuable estate planning tool that provides numerous benefits.
If you have an elderly parent or loved one, then end-of-life care and decision-making authority may be something you are thinking about. After all, it is natural to be concerned with someone's well-being as he or she gets older and perhaps begins to show signs of mental and/or physical decline.
Buying a home is typically the most significant transaction people make. Not only are you spending a massive amount of money, but you will also walk away owning a home for which you will be completely responsible.
In Florida, in order for a trust to be deemed valid, the trust must meet certain requirements. One of these requirements is that the trust name a specific beneficiary. There are exceptions to this rule, however, and under certain circumstances, a beneficiary need not be named.
People typically do not like to think or talk about subjects like what will happen to assets and property when we are gone, or who will make decisions for us if we cannot make them ourselves. However, ignoring these subjects because they are uncomfortable will not make them go away. In fact, it could only make things more difficult.