J. Kelly Kennedy, Attorney/CPA, PLLC

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Estate planning with values and ethics in Florida

Planning for estate administration after you are no longer alive is a prime concern for all Americans. People are concerned about passing their values along with their property and assets. Estate planning is not just about material possessions. It also involves giving opinions on how to bequeath your money and property to your loved ones and relatives.

In drafting estate planning documents, parents in Florida have to be aware of how to pass on the values to their children so that their hard-earned money is used wisely. Putting money in a trust for surviving relatives can prevent it from getting into the wrong hands.

Financial planners and attorneys receive frequent queries from concerned clients regarding estate planning. Some modern parents have abandoned the conservative approach of equal division of property among children, in favor of an approach that emphasizes their personal values.

However, proper and equitable estate planning is necessary to maintain harmony and goodwill among the children after the parent dies. Parents need to discuss and settle matters regarding estate planning among their children during their lifetime. It is important for parents to engage in open communication with their children regarding their future plans and desires. Taking the children and other loved ones into consideration, coupled with advice from legal professionals, leads to sensible passing of the estate to the successors.

Estate planning is a very serious and complex matter involving various laws. Consulting with a legal professional is recommended so that the person makes the right decisions. Every person planning his or her estate must base decisions on advice that will ensure that everyone receives what is rightfully theirs.

Source: Los Angeles Times, "'Spiritual' estate planning ensures values are passed with money," Donna Gehrke-White, Nov.23, 2012

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