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Take all factors into consideration when planning inheritance

Florida is an extremely popular state for retirees and older individuals, so it should come as no surprise that many wills and estate plans are crafted in our state. As people age and approach the end of their lives, they want to make sure that their assets are cared for, and many want to use their final thoughts and wishes in order to help their loved ones.

One of the most common ways in which this desire manifests itself is in individuals leaving assets to their loved ones in the form of inheritance. Many parents fully expect to leave their assets to their children, but what these parents may not expect is that there is more to leaving behind an inheritance than simply signing ownership away on a piece of paper. There are issues that many people are unaware of, such as how taxes may affect inheritance.

In addition to taxes, if you have a child with a disability, you will likely wish to consider who will care for the child when you are no longer able to. A special-needs trust can allow you to provide for the child even after you are gone, designating a trustee to oversee the care of the child and a trust to provide for the child.

These are just some of the special circumstances that may affect your inheritance and how you plan for your estate. When you consider all of the different variables, it is clear to see why it behooves you to contact an attorney. If you are thinking about what will happen to your estate and you wish to plan for the inheritance you intend to leave behind, please visit our web page to learn how we can help you consider all possible angles for your estate.

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