For many people, retiring to Florida is a goal and one that takes many years of planning to achieve. It stands to reason that some who relocate to Florida will already have other plans in place as well, such as their wills and other components of an estate plan. While many wills do transfer validly to Florida, there are some reasons why one's will may not stand in the Sunshine State.
For various reasons, many people avoid the process of estate planning. This is often because people don't think they need to make these choices now because they are young, healthy or not wealthy enough to necessitate this process. Others in Florida may assume they don't need wills and other estate planning tools because their loved ones know what they want to happen to their estate and assets. These are all erroneous assumptions, and they can all lead to problems in the future.
For many, the holidays mean traveling, whether to reconnect with family or to find some new adventure. Traveling at any time of the year can be risky, no matter where one may be going in or beyond Florida. Even if those in their 20s and 30s are conscious of the dangers of traveling, they may not consider executing wills when they set out on their journeys. However, estate planning is not restricted to those who are near retirement or with many assets.
A will is a legal document that describes the maker's wishes for how to distribute any assets after death. A will can also include other instructions that may guide one's family in making critical decisions for the departed. Without wills, many families find themselves in conflict with one another as they struggle to determine the best way to handle the estate.
What happens to a person's assets after his or her death? For some people in Florida, the answer to this question is not important. However, individuals who do not take the time to create wills can ultimately put their families in difficult situations.
Is a handwritten will good enough? That is the question that the family of the late singer Aretha Franklin has to answer. The family recently discovered not one but three handwritten wills believed to have been written by Franklin. While some people in Florida might think this could be helpful, it could end up complicating things even further.
The complexity of making an estate plan may cause most people to put it off until it is too late. Others may try to find the quickest and cheapest way to designate where their belongings will go after they die. This may mean jotting a will on a piece of paper or downloading a document from a do-it-yourself website. However, it is important to understand Florida law when it comes to wills and other elements of estate planning.
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.
Many people across the country find a home in Florida in their later years. The warm climate and friendly tax laws make this state a haven for retirees. However, moving from another state may mean adapting to many changes, including any estate planning decisions someone may have made prior to relocating. Each state has different rules for what makes wills and trusts valid, and those who move to a new state should be sure to learn if those laws require adjustments to their estate plans.
Dealing with matters of estate planning is not a pleasant thing to do, but it can be even more unpleasant for those loved ones left behind to sort out the details of an unprepared estate. Unfortunately, most people in Florida and across the country do not even have simple wills to express their wishes and to name someone to handle the process of closing the estate. A will is an excellent way to organize one's affairs so that loved ones are not left with an additional burden.