J. Kelly Kennedy, Attorney/CPA, PLLC

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January 2014 Archives

The importance of a power of attorney

Many Florida residents may have considered beginning the process of estate planning, but they may not be quite sure what exactly goes into an estate plan and what steps are necessary. This is okay -- it is to be expected. There are many who express similar concerns, but once they come to an understanding of the various components that go into an estate plan, their worries are eased. See, every part of an estate plan serves to protect both the goals of the person drafting the plan, along with the interests of their loved ones. Once a person realizes this, their initial apprehension is oftentimes quelled.

Do not forget digital assets when drafting an estate plan

Ownership can get confusing in the digital age. It is not uncommon for people to be unclear on what exactly is considered an asset and what can be passed onto heirs. With the fading of physical media, many now have vast collections of digital music, books, movies and all manner of entertainment that holds great value. Florida residents may be surprised to learn just how valuable these assets can be.

Inclusion of pets in wills becoming increasingly popular practice

Everyone has different wishes in regards to what they want to be carried out following death. Though death might not always be pleasant to think about, the assurance that people often receive when they draft a will or complete other estate planning documents in many cases makes up for the slightly uncomfortable feeling that sometimes comes with thinking of postmortem plans.

20-somethings should consider drafting estate planning documents

When it comes to estate planning, there are many excuses people employ in order to convince themselves that an estate plan is not quite necessary at whatever point in their lives. These excuses usually amount to avoidance tactics -- avoidance tactics that are used because people do not have a clear understanding of what an estate plan is and why it is important. Estate planning is important for a variety of reasons and it is a vital way to achieve a financial peace of mind.

Lower financial stress in 2014 with estate planning

Florida residents may see the new year as an opportunity to develop new habits. Perhaps this means sorting out one's finances -- starting the new year on the right foot by taking care of financial necessities in order to reduce economic stress. This is often done with a goal-based plan. For many, part of this plan may involve the diligent construction of an estate plan.