AI received calls recently by single, divorced, and widowed parents, many with grown children, asking me if they needed estate planning. I always say it is important to have estate planning as it provides peace of mind for you and your loved ones in the case of incapacity, forgetfulness, and death.
AT ALLY GLASER, PA., WHAT IS INVOLVED IN ESTATE PLANNING? IS IT MORE THAN WILLS AND TRUSTS?
Basic estate planning begins with health care documents, including a living will, a power of attorney, and a will and revocable trust. Additionally, I recommend a letter written to the loved ones, especially their children whether young or grown adults stating their wishes in their own natural way. I also recommend that all bank and retirement accounts, and life insurance policies be checked to confirm the beneficiaries are in order and stated clearly. I have found many situations where the beneficiaries were left blank or incomplete, or worse, an x-spouse was the beneficiary from a very long time ago.
I HAVE ADULT CHILDREN, DO I STILL NEED ESTATE PLANNING?
The ages of your children are not a factor in determining whether you need estate planning or not. Young parents with real estate and assets benefit from estate planning, and also single, divorced, and widowed parents may also benefit from estate planning. Married couples also benefit from estate planning. Do you have wishes regarding who gets what if you should pass away? If the answer to this is also yes, you too need estate planning.
IF PROBATE IN MIAMI IS SIMPLE, WHY DO I NEED ESTATE PLANNING?
Probate in both Broward and Miami-Dade County are not simple. The courts are overcrowded as many elderly people retire and die in Florida. This leads to longer wait times for probate administrations to be completed. A simple estate plan may prevent a probate.
DOES ESTATE PLANNING PREVENT PROBATE?
Yes, if done correctly, estate planning can prevent probate court involvement from being needed. Thus, the loved ones or adult children as we spoke about earlier, can have an easier time handling their mother’s, father’s, or loved one’s passing. With estate planning, the family deals with the assets privately. With probate court, all matters must be approved by a Judge.
WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING , TRUST ADMINISTRATION, AND MIAMI PROBATE MATTERS?
As a Miami Beach, Florida, Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with both the Miami-Dade and Broward County probate court system and know how to get things done. My unique approach to estate planning, probate, and trust administration, allows the family and loved ones to work together peacefully even in the most difficult situations. Call or email me today to discuss your Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters. I am happy to help you and your loved ones.