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February 2018 Archives

The importance of avoiding probate when estate planning

It should come as no surprise to citizens of California that planning one's estate is a very delicate matter, one where a single mistake can spell complications and heartache for all members involved. For instance, solely relying on a will to pass one's properties can cause two kinds of problems: On the one hand, without the use of a power of attorney, it is never certain who will end up in control of a person's assets in the event that said person suffers a debilitating accident. On the other hand, some assets such as annuities and retirement accounts are inherited outside the will.

Why business owners need an estate plan

For a Florida business owner, an estate plan can provide valuable peace of mind. At some point, the owner may pass or otherwise want to exit the business. An estate plan will also be useful if the owner of a company becomes incapacitated and someone else needs to run the organization. If an owner already has an estate plan, it's a good idea to review it from time to time.

The importance of a business estate plan

While putting a business estate plan into place can provide entrepreneurs in Florida and around the country with peace of mind, there are also a number of tangible benefits that can be reaped from addressing succession issues in a timely manner. A business estate plan can help avoid costly disruptions following the death of a principal and provide managers with a strategy for future growth. For example, drafting a buy-sell agreement could prevent bitter disputes erupting between heirs and partners and keep unqualified or unsuitable individuals away from important decisions.

Unmarried Florida couples need estate plans

Estate planning is important for everyone but especially so in the absence of children, who are natural heirs when a parent passes. For singles or couples without children, the absence of a plan can lead to unintended consequences and protracted litigation. A famous case is the estate of the musician Prince, who died without a will and whose estate is the subject of ongoing litigation that may last years.

Consult Our Florida Lawyer for Veterans Aid & Attendance

Feel free to contact us and schedule an initial consultation where we can review your circumstances in an intimate setting and discuss how our Brevard County Elder lawyer can help you. Simply call Amy B. Van Fossen, P.A., locally at 321-426-1848 or toll free at 800-495-9153. We look forward to meeting you.

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