You have heard your friends and family in Florida mention their estate planning is going well, and now your interest is piqued and you are considering starting the process of planning for your future. However, the thought of choosing people to name as heirs, beneficiaries, and personal representative may seem overwhelming.
When people hear the term, "estate planning," many have thoughts about elderly people who are preparing for their final years or families who are coordinating an end-of-life plan for an aging relative. However, there are many single parents in Florida who can also benefit from planning their estate even though they may not have a traditional marital relationship.
If you are one of the many people in Florida who have found happiness with a new love after a prior marriage ended in divorce, you have many reasons to celebrate indeed. However, before you rush blindly into a new marriage, it is wise to take time to step back and make sure you protect yourself, your children and your assets. Even if your second marriage lasts until you or your new partner dies, there will likely be issues at some point about who should inherit what assets. This is almost always more complicated in a blended family than in a non-blended family.
Once you have finished writing your estate plan and you feel good about having addressed all of the details that are most important to you, it is time to sit back and breathe a sigh of relief. However, this only lasts for a time before it is necessary to revisit your plan and assess whether or not it needs to be modified in any way. At Fradley Law Firm, P.A., we have helped many people through the process of building their estate plan in Florida.
A "Ladybird Deed," also known as an enhanced life estate deed, is a way to transfer property to someone else outside of probate while retaining a life estate in the property.
Events such as the birth or adoption of a child, marriage or divorce have major impacts on a person's life. They can also majorly change one's estate planning goals and needs.