Estate Planning Solutions in Flagler Beach

Without an estate plan, your treatment preferences or financial matters might not be handled as you would wish if you became incapacitated. For instance, if an illness leaves you in a coma with a poor prognosis, you might prefer not to be resuscitated. However, without an advance directive or medical power of attorney, doctors may follow family members' wishes, which might differ from yours.

Similarly, an illness like cancer could make it difficult for you to manage your business or pay bills. An estate plan ensures you have a power of attorney or business succession plan to address these situations proactively.

Estate planning is a proactive and strategic approach to managing your assets, affairs, and health during your lifetime and after your passing. Probably the easiest way to understand why it is so important to have an estate plan is to consider the alternative: not having one when you become incapacitated or die.

Dying without an estate plan means your assets are distributed according to state law, not your wishes. This could exclude beloved charities or non-family members you intended to benefit. Furthermore, dying intestate can cause delays and legal battles among family members during probate.

For those with minor children or special needs dependents, dying intestate leaves guardianship decisions to the court, which may not fully understand their needs. Additionally, it might increase tax liabilities for your heirs.