Is There a “Right” Age For Estate Planning In Florida?

Did you know that having a Florida estate plan is important for everyone to have? With your estate plan you can think about what you want for yourself, your loved ones, your business, and your legacy. Also, estate planning is about more than what happens at the end of your life, although that is an important part of the process. Estate planning makes you answer difficult questions including, but not limited to, what would happen if you no longer have the capacity you need to make your own decisions.

Now that you have taken the first step forward to planning for your future with a Florida estate plan, what happens? It may be to ask this question: Is there a right age to create your Florida estate plan? As Florida estate planning attorneys, we are frequently asked this question and we have five answers to share with you. 

  1. Yes, when you reach the age of majority. Your 18th birthday is definitely not too young to begin. If you do not have a Florida estate plan in place, there is no one who has legal authority to make decisions for you in the event you are in a car accident or other crisis. It means that no one will be able to pay your bills, access your bank accounts, or talk to your doctors. Your Florida estate planning attorney will work with you to make sure your estate plan will protect you and put the people who you want to be in charge of you in a crisis in place. Your attorney will also talk to you about how to create a legacy and plan for a time when you are no longer here.
  1. Yes, when you get married. Planning a life together is wonderful. However, it is also time to think about how you want to protect and provide for each other. There is no better way to do that than with a Florida estate plan.  
  1. Yes, when you have a child.  This type of planning is very critical when you have children, especially minor children. Ask yourself these questions: Who do I want to care for my children if something happens to me? When should they inherit? How can I provide for their future if I am no longer here? These are the questions your Florida estate plan can answer when you work with a Florida estate planning attorney. 
  1. Yes, when you inherit. Now, whether you are coming into a small or large inheritance, it is important to protect it. The person who left you this inheritance may have clear instructions for you that you want to copy or you may have inherited through a messy process that you do not want others to go through. Whatever your reason, this is a critical time to meet with your Florida estate planning attorney and plan forward. 
  1. Yes, when you start a business. As you start up your business process you need to consider all the ways to protect yourself, your family, and your business from what comes next.  Your Florida estate planning attorney can help you not only design your estate plan for you but may be able to advise you on the business planning too.

We know this blog may raise more questions than it answers. The experienced team of attorneys here at Hemness Faller, The Law Office formerly known as Emma Hemness, P.A., are here for you and your family and we want to be YOUR estate planning and elder law attorneys. After all, we are ordinary people, providing extraordinary guidance backed by years of experience and advocacy for the vulnerable citizens in our community. We encourage you to contact us and schedule a meeting with us.