Have you been thinking about starting the year off right by ensuring your Florida estate plan is in order? The beginning of a new year is a time for fresh starts and important decisions. It is also the perfect moment to revisit your estate planning goals to ensure you are protecting your legacy and your loved ones.
Whether you are updating an existing plan or creating one for the first time, there are steps you can take to help secure your future. Remember, this is not just about you but also your family, your business, and your legacy. Let us share with you seven practical estate planning tips you can use to make meaningful progress toward your New Year’s resolutions in 2025.
1. Review your current Florida estate plan for updates. Life is always changing, and your Florida estate plan should reflect those changes. Key events such as marriages, divorces, births, or even relocations can impact your plans. We encourage you to take time to review your estate planning documents, including your last will and testament, trust agreement, and durable powers of attorney, to ensure they reflect your current intentions. If you have experienced major changes recently, now is the time to act.
2. Prioritize your health care planning. Your health care planning is essential for protecting your medical preferences and ensuring trusted individuals can make decisions on your behalf. You want to ensure that you are working with your experienced Florida estate planning attorney to make sure your tools, such as health care planning documents and advanced health care planning instructions, align with your wishes and reflect any changes in your health or care preferences. This proactive step can provide peace of mind for you and your family.
3. Update beneficiaries and key appointments. Your beneficiary designations and key appointments, such as the agent in your durable power of attorney, should be reviewed regularly. For Older Americans, ensuring these updates are made can provide peace of mind and better reflect changing priorities. Circumstances may change, and you will want to ensure the people you have chosen still align with your goals and values. Remember, beneficiary designations are only one part of a comprehensive estate plan and should work alongside other tools to ensure your wishes are honored.
4. Plan for Florida long-term care. Long-term care planning is a critical component of estate planning, especially as you age. When you choose to proactively consider discussing care options with your attorney to prepare for potential health challenges, whether through Medicaid planning or other resources, taking these steps can help reduce stress and financial burdens for you and your loved ones in the future.
5. Discuss planning for minor children provisions. If you have minor children or other dependents, your estate plan should include updated guardianship provisions. These decisions ensure that someone you trust is caring for your loved ones’ well-being and financial needs if the unexpected happens. Reviewing these provisions annually is a good habit to adopt.
6. Consider digital estate planning. In today’s digital world, your online presence and digital assets are part of your legacy. Take inventory of your digital accounts, including email, social media, and banking, and ensure your estate plan addresses how these should be managed. Your experienced Florida estate planning attorney can help you include provisions to handle these assets appropriately.
7. Work with an Estate Planning Attorney who practices elder law as well. Navigating estate planning can be complex, but having the right guidance makes all the difference. When you choose to work with a Florida estate planning attorney who is experienced in elder law she can help ensure your plans are legally sound and align with your goals.
We know this blog may raise more questions than it answers, especially as you consider how these estate planning tips can help you achieve your goals. At Britton G. Swank, P.A., our mission is to guide you in the right direction to help you provide for yourself and your loved ones no matter what the future holds. We want to help you control the assets you have, leave them to people and causes you care about, when you want, in the way you want. We can help you take care of yourself and those you love in the event of disability due to illness, injury, or old age. No matter what risks unfold, we can help give you the comfort of knowing you are prepared. We want you to feel good about your future and the future of your loved ones. We encourage you to contact us and schedule a meeting.