Regular readers of our Brevard County legal blog know that we recently wrote about steps couples can take to protect themselves and their assets. It is simply inevitable that one spouse will pass on before the other, so it is important to plan ahead so that the survivor does not have to deal with complex legal matters or needless expenses in an already difficult time.
At the very top of lists of the most stressful life events is the death of a spouse. Though planning for it can be emotionally difficult, it is a step to be taken with an experienced Brevard County attorney that will help to spare the surviving spouse needless legal complications and expenses in a time of grief and loss.
As people get close to retirement age, it is a good idea to sit down with a professional to ensure that both financial plans and estate plans are in order. In that way can minimize the possibility of surprises on either front.
One of the most powerful estate planning tools a Florida resident has at their disposal is a revocable trust. Also known as a “living trust” and “revocable living trust,” the revocable trust has at least two critical people involved: the trustee (the person who holds title to property in the trust) and the beneficiary (the person designated to benefit from the trust).
The death of a spouse can, of course be emotionally devastating. But there are estate planning mistakes that can make the grieving even worse for those left behind.
The old adage holds that the only things you can count on are death and taxes, but we know that’s not true. We can also count on gorgeous sunrises over our Brevard County beaches, annoying TV commercials, red lights when you’re in a hurry and losing track of stuff you put away for safekeeping.
Estate planning is both a simple and complex thing. It is not difficult to sit down with a Brevard County attorney and create a will. But because Florida law is complex, it takes study and experience to know which estate planning tools should be used to protect you, your assets and your loved ones in ways that a will cannot.
Experts say there are common mistakes to avoid when buying a used car (for instance, don’t shop at just one dealership), a home (buying more house than you can afford) and a business (buying a company that isn’t suited to your skill set).
Most of us understand that a will or trust can determine where your physical property goes when you die. With those estate planning tools, you can decide how assets such as a house, vehicles, furnishings, a vacation home, a business and much more will be divided and distributed after you pass on.
We have a couple of fine institutions of higher learning here in Brevard County: Eastern Florida State College and Florida Institute of Technology. While both schools will be welcoming new students after the summer ends, a lot of families will opt to send their students outside of the county or even outside of Florida.