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Gainesville Florida Estate Planning & Elder Law Blog

Wednesday, September 4, 2013

Estate Planning? But I am alive and well…

In a day and age where financial decisions are treated like open-heart surgery, many people are uncertain where to begin. How about start with something you can see – your estate? This can include your home, your money, even your hobbies. I found an article recently written by professional financial planners.

 

The article talked about the top 10 mistakes that people tend to make during the process of estate planning.  The first dealt with taking the initiative to begin making your estate plan. Most of us don’t consider making a plan; after all we are so young. Why would we need to worry about death and what we leave behind?

 

We must also consider all of the “what if scenarios.” This can be the most daunting task, not many people want to think about the possibility of getting cancer or getting divorced from their spouse.

 

Don’t forget about your pet when making an estate plan. Your pet may outlive you in a sudden accident and you wouldn’t want them without a secure place to go. People rescue animals from shelters; you wouldn’t want to be the one to send a pet there.

 

Most importantly when making an estate plan you need to read all of the fine print. Analyze everything, for this is dealing with all of your belongings that you have worked so hard to get. If you don’t understand something be sure to ask. Believe me, litigation jargon can be very unclear.  


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