If you have drafted a will, you may feel that you are prepared for the day you are no longer here. You may feel that your assets will be distributed to your family as necessary and that your estate is in order. It is important to remember, however, that estate planning encompasses more than having a will. Accurately and appropriately dividing assets for inheritance is a complex legal field, and there are many different factors that may affect the process.
Passing your assets to your heirs is not something that should be taken lightly, but even if you are certain that you have arranged everything in the way you wish it to be, there are some concerns that you may not have accounted for. For instance, depending on the assets you impart, the taxes of your heirs or beneficiaries could be altered, which might make their financial situation more complex. Additionally, if you have gone through multiple marriages, your estate plan will need to reflect each marriage and child appropriately.
These are just some of the issues that may have flown under the radar in your estate plan. Of course, the irony is that if there is a complex issue you are not aware of, you will not even know that you have failed to plan for it. That is why it is in your best interests to consult with an attorney and ensure that your estate plan covers all necessary areas of estate planning.
Visit our web page if you have questions or concerns about your estate planning or inheritance. We are experienced in handling all aspects of estate law and estate planning in Florida, and we can help you better understand what you can expect from your specific circumstances.