Law Offices of Frye & Vazquez, P.L.
Call Today. 305-508-5749 | 877-421-5473

The importance of keeping an updated estate plan

Regardless of a person’s age, he may want to give some thought to what will happen to his property and money if he is killed in an accident. Estate planning can provide some peace of mind as it presents a person with the opportunity to set up protections and guidelines regarding who will receive a part of the estate and exactly what each person will receive. For example, a will makes it easier for a surviving spouse to receive control of property and funds and can prevent siblings or parents from going after the estate.

However, a valid will can be overridden if it is outdated and therefore it is important to keep it as current as possible, as well as any other estate planning features such as trusts. The estate administration is a key element and a person should make sure that he has chosen a person who will follow his wishes. It is also important to be aware of what the law says in regards to property that a person may have inherited with another family member. For example, if a person wants to leave their share of an inheritance to a spouse, this may or may not be possible.

To plan for the financial future of children, a parent can set up a trust that prevents the money from being wasted or used up before they become of legal age. Trusts can also eliminate the necessity of going through probate.

There are many things to consider when one is planning their estate. Therefore, it may be a good idea to meet with an attorney who is experienced in estate planning. The attorney can help the person understand current law and make sure that the wishes of the person will be adhered to after their death.

Source: The Patriot Ledger, “MAKING CENTS: Review estate plans now, rest in peace later,” John Napolitano, Aug. 25, 2013

What Our Clients Are Saying

  • It is difficult enough to cope with the emotional challenges of closing a parent's estate, and when you are also faced with the issue of your parents having insufficient documentation, and being remote from your siblings… - Zara L.
  • Austin Frye provided legal services to my father while alive and to his estate after his death; when showing the EP docs his firm prepared to other professionals (lawyers, financial advisors, accountants)… - Mark S
  • I've been a client of Austin Frye's for over 10 years. In that time, he's handled my estate/trust planning and asset protection as well as complicated business deals. - Leslie
  • Mr. Frye recently set up a complicated special needs trust for my son and, as usual, did a great job explaining it and in putting our minds at ease about our son's future well-being. - Dr. Howard
Read More...
  • NYSBA
  • Massachusetts Bar Association
  • The Florida Bar 1950
  • CFP
  • Florida Bar Elder Law Member
  • Academy Of Florida Elder Law Attorneys
  • Florida bar Business law Member
  • NAELA National Academy of Elder Law Attorneys, Inc.
Email Us For a Response

Contact Us For Personal Attention To Your Legal Matter

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

Get In Touch With Us
20900 W. Dixie Highway
Aventura, FL 33180

Toll Free: 877-421-5473
Phone: 305-508-5749
Map & Directions