What makes an estate plan a good estate plan?

There is no cookie-cutter solution for long-term legal and financial planning. Each Florida adult will benefit from the protections provided by an estate plan, but what this looks like depends on the details of the individual situation and personal goals. While each estate plan is different, there are certain factors that help one know if the plans he or she has will provide stability and security well into the future.

Don’t be unprepared

Many adults do not have an estate plan, meaning they are unprepared for a medical emergency or do not have plans in place for their estate after death. This may be because of an assumption that one should be wealthy or in ill health to truly need a plan. Thanks in part to global health concerns, more young adults are planning for their futures by creating estate plans.

To have a strong estate plan, one should ask who he or she would like to make medical decisions in the event of incapacitation. One should also consider preferences for who should make financial decisions. The more detailed one can be regarding his or her plans, preferences and instructions, the better and stronger the estate plan.

Work with a professional

Many turn to online resources for estate planning needs, but this is not always prudent. There is significant benefit in working with an experienced Florida attorney who can help create a custom estate plan that suit one’s plans for years to come. An assessment of one’s needs, goals and concerns can identify the right direction for a planning strategy.