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Wills Archives

Disadvantages of a do-it-yourself will

Some Florida residents might assume that a do-it-yourself will is easier and cheaper than having a lawyer help prepare an estate plan. In fact, there can be a number of disadvantages to a DIY will, and it can be more costly to family members in the long run. Furthermore, a will does not just deal with the disposition of property. It can also appoint a guardian for minor children.

Estate plans and chronic illness

Almost 157 million people around the country will have a chronic illness by 2020. Florida residents who have a chronic illness or have a loved one who is chronically ill should make sure that their estate plans include the legal documents that directly address their age-related and health-related challenges.

Planning for incapacity: why and how

Estate planning is about more than deciding what will happen after you die. You also need to decide what happens if you become incapacitated or disabled. At the Law Offices of Frye and Vazquez, we know that no one in Florida wants to think about the possibility of disability or incapacity. Nevertheless, thinking about and planning for it is an aspect of estate planning at least as important as making out a will. It may even be more important because it could affect you directly in the future, while your will only affects those you leave behind. 

Why estate planning is easier with professional help

Estate planning can be a complex endeavor for those living in Florida or anywhere else in the United States. Therefore, it is generally a good idea to create an estate plan with the help of a professional. One attorney remarked that estate planning is akin to waterproofing a basement: While an individual could learn how to do the job him or herself, that person is taking a big risk by not asking for help with such an important project.

Estate planning critical for entrepreneurs

Business owners in Florida may have particular concerns when it comes to planning for the future. Making a will and having an estate plan is essential for everyone who wants to protect their loved ones, but it can be especially crucial for business owners. In many cases, a privately held business may be a major source of family income or comprise a large portion of the owner's estate. It can be important for spouses to talk with each other and develop an understand of how the business will be handled after the owner passes away, especially if the company relies on specialized or technical knowledge.

How to avoid estate planning issues

Individuals in Florida and throughout America should have an estate plan. That plan should account for as many different scenarios that a person can think of even if not all of them are likely to occur. For instance, it can be a good idea to include a power of attorney to ensure that financial and medical decisions can be made on an incapacitated person's behalf.

The importance of passwords in estate planning

Spouses in Florida should make sure that they have a thorough understanding of the family finances and access to one another's passwords in case one of them dies. This can be particularly important for women, who are more likely to be widowed and less likely to handle the financial issues in a marriage.

Accounting for digital assets in an estate plan

Those who live in Florida or any other state will need to make sure that their estate plans account for digital assets. These assets may include bank accounts, social media accounts and anything else that is accessed by a computer or internet connection. Therefore, an email account, photos that are kept online or online subscriptions paid for with a credit card could be considered digital assets as well.

Questions to consider when creating a will

An important part of planning your estate is creating a last will and testament. This critical document is comprised of how you would like your estate handled and what you would like to happen to your assets and property after you pass. It can be difficult and overwhelming to think of such things as you are drafting your will. However, you can prepare yourself by researching what types of questions you will need to answer, as well as what will be included in the will.

The drawbacks of a handwritten will

Those who live or own property in Florida are encouraged to create an estate plan that includes a last will and testament. Ideally, it will be typed as handwritten wills may come under more scrutiny. In some cases, they may not be seen as valid. Typically, a will must be signed and dated in the presence of two witnesses, and the signatures are usually done in ink or through electronic means.

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