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June 2014 Archives

Involving adult children in estate planning

Many Florida residents may feel that their estate plans are too complicated or complex to review with their family members. While discussing end-of-life matters with children isn't necessarily an easy topic of conversation, it may prove beneficial in the long-run. Involving adult children in estate planning matters can help ensure final wishes are known regarding end-of-life care and asset distribution.

Inherited 401ks subject to creditor claims, thanks to new ruling

It's a pretty fair to say that most people would like to leave something behind for their family members when they die. Even though every financial situation is different, passing on an inheritance to loved ones is a strong desire for many Florida residents. Determining the best way to do that can take some careful planning, particularly when it comes to retirement accounts. Thanks to a new ruling by the U.S. Supreme Court, inherited retirement accounts may be subject to creditor claims.

The creation of a will may help family cope with loss

Discussing end-of-life wishes isn’t an easy thing to confront. Most people try to avoid talking about something so dismal, although having a plan can help ensure that final wishes are known and may assist surviving family members cope with their loss. There are several legal documents Florida residents may use to make final arrangements regarding end-of-life care, funeral plans and the division of their estate. Assigning durable powers of attorney and the creation of a will are great places to start.

Probate litigation can help ensure final wishes are carried out

Planning a final estate, while time-consuming and sometimes difficult, is generally considered a necessity for everyone in Florida or elsewhere. It literally takes a lifetime to build an estate, and deciding what to do with it all in the event of death can be taxing. Even with a carefully considered and organized plan, heirs may choose to dispute the terms of an estate, leading to the need for probate litigation.

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