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  • Worley Elder Law

Four Important Florida Estate Planning Questions We Want to Answer in the New Year

Are you reviewing the New Year’s resolutions you made for 2023? Did you include creating or reviewing your estate plan? As you enjoyed being with your family during the holidays, have you started to think about what would happen to you and your family if you became incapacitated, or will your family be provided for if you pass away, or what would happen if you needed a nursing home in the future or what about the legacy you want to leave? These are all good questions and this is the year you need to get the answers. Your answers will enable you to update and create a good Florida estate plan.


A good place to start working on your Florida estate plan is with an appointment to meet and work with an experienced Florida estate planning attorney. In our office, we meet with clients and their loved ones to discuss just what is needed to ensure that they are personally protected, as well as their businesses, their family, and the legacy they want to leave behind.


We have four important Florida estate planning questions we would like to share with you and help you answer this new year. You may use these questions now, or any time throughout the year, to make sure that your estate plan reflects your goals for both the present and the future.


1. Do you currently have an estate plan? Is it a Florida estate plan or from another state? Has it been updated in the past two or three years? Do you currently not have a Florida estate plan? If you currently have an estate plan but have not updated it in years you need to be sure it reflects what you need right now. If your estate plan is from another state and Florida is now your home state, we highly recommend you create an estate plan with Florida documents. If you do not have an estate plan and have made it a New Year’s resolution to create one, now is the time to begin. To be sure your estate plan is up-to-date, think about if there have been any deaths, divorces or births in your family since you created your estate plan. Have there been any name or address changes? Small things can impact your estate plan and it is important for you to meet with your Florida estate planning attorney as soon as possible. If you do not have an estate plan at all, who would make your health decisions if you were suddenly incapacitated? Health care decision making is just one of the important legal documents in your estate plan. It is extremely important that you either update your Florida estate plan or begin creating one as soon as possible.


2. Did you know that a well crafted estate plan allows you to create a legacy for when you pass away? Estate planning is about so much more than who should inherit from you at your death. Your legacy will ensure that the assets you leave behind will help your loved ones and bring them security and peace. If you are unsure how to accomplish this task, it is time to schedule a meeting with your Florida estate planning attorney to discuss the legacy you wish to create. Your estate planning attorney will also be able to provide guidance on how to ensure that your legacy will be preserved no matter what life sends your way.


3. Did you know that a critical part of estate planning is retirement planning? Have you thought about your retirement? Do you have any goals you would like to accomplish for your retirement? Does your estate plan follow your goals for retirement? Your Florida estate planning attorney can assist you on how to attain your goals for retirement, not just financially, but with an eye on the legacy that you want to create.


4. Have you thought about a future where you might need significant long-term care? Unfortunately, Medicare will not pay for most types of long-term care. It is essential for you to consider your long-term care needs and how the financial drain on your resources could impact your estate-planning and your legacy. We highly recommend that you think about your estate plan along with your long-term care plan. Schedule a meeting with your Florida estate planning attorney to discuss how potential long-term care complications could impact how you reach your estate planning goals.


We know this topic may raise more questions that it answers and want to help you plan for the future, and the unexpected. Whether you're young and single or a married five-time great grandparent, your voice and wishes need to be known. Worley Elder Law, based in beautiful Bradenton, Florida, focuses on helping you understand your options in designing your Estate Plan or Elder Law needs. Whether it's preventative incapacity planning or establishing your legacy, we will take the time to explain every option and work with you to create a customized plan just as unique as you and your family are. Please do not hesitate to contact us to let us help you.


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