Your Legacy, Your Rules Strategies to Keep the Peace After You’re Gone
When we pass away, we want our loved ones to have time to grieve and reflect on all our shared experiences together. This can be a difficult time for families, and emotions can run high. You may have heard horror stories about Probate from a friend or watched a TV program showing family members fighting over who gets what. We all want to avoid this situation when we pass away, but how can you prevent family infighting if you’re no longer around? It all starts with some vital Estate Planning strategies. ESTABLISH AN ESTATE PLAN. If you pass away without an active Will, Trust, or any other Estate Planning documents, your Estate will be subject to Probate. At Probate Court, an estate administrator will identify assets, pay off debts, and distribute assets according to the state’s intestacy laws. This means you will have no say in who receives what, which can lead to frustration from loved ones.
You need to establish a clear Estate Plan that includes a Will, Trusts, and Powers of Attorney. Every document you include in your Estate Plan should help eliminate ambiguity so your loved ones know this is what you want. HAVE AN OPEN CONVERSATION WITH THOSE INVOLVED. One primary reason family infighting is so common after a loved one passes away is that the family doesn’t know the plan. They may have assumed they would receive a specific asset, but you left it for someone else for a particular reason. After establishing your Estate Plan, sit your family down and discuss it. Set expectations, offer reassurance, answer questions, and explain your decisions. You can also include a letter of explanation in your Estate Plan. While this isn’t a legally binding document, it does give you a chance to reaffirm your intentions and provide further reasoning behind your decisions. KEEP YOUR PLAN UPDATED. Life changes, and we need to ensure our Estate Plan reflects every change. You should make an effort to update your plan every three years, or whenever you experience a significant life change, such as the death of a loved one, divorce, a life-altering disability, a move to a new home, or the birth of a new descendant.
Sudoku
Check Out Our Seminars
Boca (Location for all dates: Spanish River Library, 1501 NW Spanish River Blvd., Boca Raton )
Living Trust • Thursday, Nov. 6, 10 a.m. • Tuesday, Dec. 9, 10 a.m. Medicaid Planning • Thursday, Nov. 6, 2 p.m. • Tuesday, Dec. 9, 2 p.m. Wellington (Location for all dates: Fairfield Inn: 10616 Forest Hill Blvd, Wellington )
Living Trust • Tuesday, Nov. 4, 10 a.m. • Thursday, Nov. 20, 2 p.m. • Thursday, Dec. 18, 2 p.m. Medicaid Planning • Thursday, Nov. 13, 2 p.m.
Naples (Location for all dates: Naples Bay Resort & Marina, 1500 Fifth Avenue South, Naples )
Living Trust • Tuesday, Nov. 18, 10 a.m. • Tuesday, Dec. 9, 10 a.m.
To reserve a spot, call us at 561-955-8515 ! For more information scan the QR code above or visit our website SiegelLawGroup.com/events !
3 561-955-8515
Made with FlippingBook Ebook Creator