No one wants to think about the possibility of dying while their children are still young. Nevertheless, prudent Florida parents will set aside their emotions and figure out the most effective way to provide for the financial needs of their children, plan for their education and ensure they are well cared for if this sad event occurs. For many, including trusts in their estate plans is the most appropriate method.
Many elders in Florida have adult children who help them run errands, travel to doctor appointments and handle things around the house, such as lawn maintenance or household repairs. Some aging parents also rely on their children to help them keep their finances organized. When a parent has several children, problems can arise if, as siblings, they disagree about important issues such as guardianship.
Have a loved one asked you to serve as the executor of his or her estate? If so, you are in a position that many people in Florida and across the country find themselves. In some cases, individuals will accept this role without thinking about what the job fully entails, and that action could turn into a mistake.