Estate planning is not just for the wealthy. If you own anything or care about anyone, a basic plan can spare your family stress, expense, and uncertainty.
Many people assume estate planning is only for the rich or the elderly. In reality, nearly every adult benefits from having at least the core documents in place. An estate plan is simply a set of instructions for your property and your care.
What happens without a plan
If you pass away without a will, Florida's intestacy laws decide who inherits your property — and the answer may not match your wishes. Without powers of attorney and health care directives, your family may face a court process just to make decisions on your behalf.
The building blocks
- —A will directing who receives your property and who administers your estate
- —A durable power of attorney for financial matters
- —A health care directive and designation for medical decisions
- —Beneficiary designations that are kept up to date
- —A trust, where it fits your goals
It grows with you
A plan you create today is not set in stone. Marriage, children, a new home, or a change in finances are all good reasons to review and update it. The important thing is to start.
Hill & Hill helps individuals and families put thoughtful, straightforward estate plans in place. We would be glad to help you begin.