September 2022

The coronavirus pandemic has taught us a lot of things that we might not have quite realized as a culture. In a lot of ways, the pandemic revealed how fragile our health care system is in the U.S. It has revealed how much we depend on schools to help give our children structure as they develop. It has revealed how a virus can devastate the world economy. And, it has revealed how important it is to plan for the unexpected when it comes to your, and your family’s, financial future.

It is never too soon to begin doing your estate planning, and it is also never too late. Accordingly, in this article, we will discuss the 6 estate planning tools that any family should consider.

If, after reading this article, you have additional questions about your own circumstances, then we welcome you to give our Palm Beach Gardens attorneys a call at Doane & Doane, PA. Our firm focuses on probate, estate, and tax matters. We care deeply about our clients and want to make sure that they have the best, most up-to-date, information available.

Now on to the 6 essential estate planning tools.

Read the Full Article Here

Estate planning is an essential process that everyone should consider. Due to the uncertainty of tomorrow, it’s important to start planning for the future now. Unfortunately, many people are under the impression that estate planning is something reserved for the wealthy or those who have many assets. This simply isn’t true, as everyone needs to have a plan in place to legally distribute their assets after they’re gone. What’s more, estate planning isn’t just for people with children. Whether you have children or not, you must think about what you want to happen to your pets, personal belongings, money, property, and so on. So while it’s true that some people will have estate plans that are more complex than others, they all follow the same principle of dispersing property to others.

What's Included in Estate Planning?

Estate planning isn’t limited to property and money. On the contrary, there is any number of aspects to consider for your estate plan, such as:

1. Designation of beneficiaries
2. Directions for guardianship
3. Medical power of attorney
4. Transfer of Accounts
5. Power of Attorney
6. Transfer of Deeds
7. Care of a pet
8. Living will
9. Trust

To begin, make a list of everything you own and everything you owe. Included with your personal inventory should be copies of essential documents that reflect your assets and debts.

Estate plans let you determine what happens to your assets in the event that you pass away. Yet it can also serve to establish what happens in the event that you become incapacitated for a time. As such, those you name would be able to act on your behalf without having to go through a court of law. Therefore, it’s important to secure a backup plan outside of death. If you are hospitalized or ill for any reason and you can’t address your responsibilities, a loved one can do so for you. One of the main reasons people secure estate plans is to ensure the care and protection of children and dependents. As such, you want to make sure that there are provisions in place that detail their care. Moreover, you’ll want to provide details about anyone you remarry to ensure that your assets don’t automatically go to someone outside of your wishes.

As you can see, what might be in your estate plan reaches far beyond simple personal assets. This is why it’s so important to secure the services of a qualified Estate Planning attorney in Florida.

Call Doane & Doane to Speak with an Attorney

If you have questions about estate planning, call Doane & Doane today to speak with an experienced attorney. Our attorneys can help you navigate the complexities of the law and ensure that your assets are distributed according to your wishes. Visit our website today to schedule a consultation. You may also connect with us via our contact form.

Office closures in September: