Having an estate plan is critical for just about every adult in Florida, whether you are just starting to build your estate or you are ready for retirement.
However, just having an estate plan may not be enough if your plan has problematic gaps that jeopardize its effectiveness, including those discussed in a recent Kiplinger article. To address and avoid these gaps, it can be crucial to work with an attorney when creating or revising your estate plan. There are a few ways an attorney can ensure your plan is as strong as possible.
Spotting red flags
You might know what you want in terms of your end-of-life care and estate distributions, but there could be issues with your plans that create legal disputes or confusion. An attorney can spot problematic clauses and designations that might make your wishes difficult (or expensive) to carry out.
Offering creative solutions
There is a saying that you don't know what you don't know, and this is certainly true in the context of estate planning. Many people are unsure of what they can actually do with their estate plan and what options exist in terms of distributing assets and other goals. However, an attorney who has seen countless plans can offer ideas and solutions you might have never considered or known about.
Understanding legal restraints and opportunities
Without a familiarity with state laws, it can be very difficult to know if your plan is valid and enforceable. For instance, complications regarding jurisdiction or legislative changes can weaken your plan, while unlawful terms can leave your plan vulnerable to challenge. Reviewing your plan with an attorney who has the legal knowledge you may not can help cover your bases.
No matter how complicated or simple your estate plan is, it could contain gaps or problems that make it difficult or impossible to enforce your wishes. To address these issues and create an estate plan with which you are confident, it can be wise to consult an experienced attorney.