J. Kelly Kennedy, Attorney/CPA, PLLC

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December 2013 Archives

What is the biggest estate planning blunder?

All it takes to prevent an estate planning nightmare is preparation. Many, though, make the mistake of not diligently updating their estate plans, which can be quite costly. This is, perhaps, the biggest blunder people make in regards to estate planning (besides neglecting to do it all together, of course).

The dangers of postponing estate planning

Some Florida residents may not be aware of just how devastating the postponement of an estate plan can be. Though it may not always seem so, delaying an estate plan can be detrimental to the loved ones left behind. At any point in a person's life, something unexpected may occur that puts loved ones in an undesirable place. Even if someone is young and just beginning to acquire wealth, an estate plan can help prepare for the unexpected and leave loved ones with a clear understanding of what a person's wishes are.

Divorce a perfect time to update estate planning documents

Florida residents in the middle of separations have a lot on their plates. Stock options and credit card statements fill their days as divorcees are expected to take thorough inventories of their assets for property division purposes. Though this may be the most immediately apparent necessity, divorce necessitates much more than just inventorying assets. Much needs to be updated in order to accommodate for the changes that divorce brings about. One of the more pressing and too-often-forgotten necessities is the updating of estate planning documents.

Why is a living will needed?

The thought of creating a living will has likely crossed the minds of many Floridians. But even though many have a vague sense of what a living will involves, and have maybe even considered drafting one, studies show that less than 30 percent of Americans are currently in possession of a living will. It can be deduced, then, that most Americans underestimate the importance of having a document that shows a person's desires involving medical treatment.