When you pass away, your family is left with many questions, and your Estate Plan should provide all the answers. Your Estate Plan should also lay out what happens if you suffer a debilitating injury and cannot communicate with your medical team. These are heavy topics, and many South Florida residents do not want to think about these scenarios, but you must.
While these topics are challenging to discuss and plan for, they are essential for you and your loved ones. The South Florida Estate Planning Attorneys at The Siegel Law Group helps families and individuals plan their future should the unthinkable happen and give you Peace Of Mind.
5 Critical Must-Have Estate Planning Documents By Age 55
Our South Florida Estate Planning Attorneys have created a FREE Special Report that goes over the 5 essential Estate Planning documents you need before you reach 55. These documents are the basis of your loved one’s future and yours.
Our guide can help you create your documents but should always speak to an Estate Planning Attorney in South Florida to ensure you have everything filled out correctly and they are legally enforceable.
Protect Your Loved Ones
As we age, our future and end of life begin to come to our minds’ forefront. Death is not something anyone wants to think about, but by age 55, you should start planning your estate. An Estate Plan protects you and your family if you die or if you suffer a significant medical trauma that leaves you incapacitated.
An Estate Plan covers many topics including any concerns about your property, assets and family. Some essential questions to address in your Estate Plan include:
- Who can make medical decisions on your behalf if you suffer a medical trauma leaving you unable to express your wishes?
- Who will take care of your children?
- Who gets the house and other property?
- Where do your pets go if you pass before them?
Depending on individual circumstances, there are other questions you can address with your South Florida Estate Planning Attorney. The Siegel Law Group offers a FREE Estate Planning report to start your Estate Plan. Get your free report immediately by filling out our form.
–> Have questions about Estate Planning? Let THE South Florida Estate Planning Attorney Barry Siegel at the Siegel Law Group guide you in the right direction.
Keep The Government Out of Your Estate
The government does not know what you want after you pass, so why should you let them handle your estate? You shouldn’t! When you do not have an estate plan with the five essential documents from our FREE guide, the government will swoop in and decide what happens, which leaves your family with nothing.
If you have children, the government will dictate who gets custody regardless of your arrangement before death. Your property and assets are also in the government’s hands. The government can do this through probate, which is time-consuming and stressful.
The government will take months or years to decide what to do with your assets, and they will collect fees during that time. Those fees come from your assets; if you had an estate plan, they would go to your family.
Keep the government out of your estate and download our FREE guide to protect your estate and family.
Avoid These Mistakes When Estate Planning
Mistakes are common when Estate Planning without the help of our South Florida Estate Planning Attorney. Our FREE guide makes the planning process as straightforward as possible, but we understand you are not in the legal space and need additional guidance.
Review our guide carefully and avoid these common mistakes:
- Outdated wills and forms:
Making a will or other estate plans is an ongoing process. Births, deaths, divorce, marriage, or moves are excellent times to review your estate plans. You should update your estate plans every few years to ensure you have the most updated directives.
- Financial procrastination:
Failing to review your entire financial picture or avoiding making plans until it is too late.
- Making children joint owners:
When you name your children as joint owners of your assets, you give their creditors access to your funds. Name your children in your estate plan but do not make them joint owners.
- Estate tax and life insurance:
While you should take out a life insurance policy, it can complicate your Estate Planning resulting in lengthy legal battles and taxes for your heirs.
- Uncoordinated beneficiaries:
Naming your heirs in your estate plan is one thing, but if you have other accounts like life insurance or retirement accounts, you should also update these with your beneficiaries. Failure to correct these accounts can supersede your estate plan leaving your assets to someone no longer in your life.
Estate Planning is not exclusive to individuals with substantial sums of money but is for anyone with assets and families. You can begin Estate Planning at any age, but the earlier you start, the better for your future.
Another Estate Planning mistake South Florida residents make is failing to download our FREE report and calling the Siegel Law Firm.
THE South Florida Estate Planning Attorney Barry Siegel Can Help
Estate Planning gives you peace of mind because you protect your loved ones and yourself from the government and others. However, you must ensure you have the proper documents in place without any room for misinterpretation or errors. Our FREE guide provides vital tools to help you during the process, but you must speak with The Siegel Law Group to avoid costly mistakes.
Download our FREE Estate Planning guide for the five essential Estate Planning documents you need, and then speak to THE South Florida Estate Planning Attorney Barry! Call our office at 561-576-6206 to schedule a complimentary consultation or submit our online contact form to schedule a consultation today. If you have any questions, do not hesitate to contact us.