For those in Florida who choose not to include trusts in their estate plans, they may assume that most of their property will go through the probate process. This legal procedure verifies the beneficiaries of an estate, values the assets and satisfies the debts of the deceased, among other things. While probate is an important part of closing an estate, it is not always necessary for some types of assets.
It is not easy to make decisions for the future, especially if a person is young, healthy and unmarried. Single adults often overlook the need to have a strong estate plan in place because they feel that it is not necessary. However, through trusts, wills and other types of documents, they can secure their own interests and the interests of their beneficiaries in case of a serious medical situation or unexpected death.
Life is unpredictable, and significant changes can bring about the need for a Florida reader to change his or her estate plan. When major life changes occur, it is almost always necessary to change wills and other estate planning documents to match current circumstances. Failure to adjust plans as needed can result in complications in the future.