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Who Should Have an Estate Plan?
The shortest answer to this question is that every adult aged 18 or older with a sound mind should create an estate plan. Too many people think that estate plans are only for seniors, people with serious health conditions, or those with significant property and wealth. In reality, every adult in Florida can benefit from having an estate plan.
Our estate planning attorneys help clients in all types of situations, and we draft plans ranging from very simple to highly complex. Whether you are unmarried with no children or property, or you have substantial wealth, a complex family situation, and business interests, the team at Mickey Keenan P.A. can help.
Why Everyone Should Have an Estate Plan
If you are married, have children, or own property or assets, it should go without saying that you need an estate plan. However, if you have no family of your own or no property, you might wonder why you should take the time to create an estate plan.
An estate plan can do much more than distribute your property to your beneficiaries. Your estate plan serves as a roadmap for the probate process. For example, if you pass away without a last will and testament, there will be no one designated as the personal representative of your estate. Instead, the probate court will need to appoint someone to act as the representative, which can take time, put your family in limbo, and even cause conflict if family members disagree on who should serve in this role.
Having even a straightforward will in place can relieve much of the stress from your parents or other family members during probate, even if you do not have a spouse or children.
Further, an estate plan does more than plan for after your death. A comprehensive estate plan also protects you in case you suffer an incapacitating injury or illness. Such things can happen at any time, any age, and when you least expect it. If you suddenly become incapacitated without an estate plan, who will make decisions for you and handle your affairs?
Without an estate plan, the probate court will need to appoint a guardian who has the authority to take over your affairs. This can take time, and in the meantime, your bills and financial affairs can become a trainwreck. Further, if you are unmarried, no one will have the authority to make important medical decisions for you until the court appoints someone. Having an estate plan helps ensure you have proper care from the moment you are incapacitated, which protects your well-being.
Discuss Your Options With a Florida Estate Planning Attorney
Many people know they need an estate plan, but even young adults or adults without property can also greatly benefit from creating an estate plan. The estate planning lawyers at Mickey Keenan P.A. help clients from all walks of life prepare for the future, whether it is for an incapacitating condition or after your death.
Contact us to learn about how we might help with your estate planning. We have offices conveniently located in Tampa, The Villages, Largo, and Riverview, Florida.