J. Kelly Kennedy, Attorney/CPA, PLLC

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March 2014 Archives

Delays in estate planning could be costly for loved ones

There is a common myth when it comes to estates and planning for the future. The myth is that estate planning only serves the wealthy -- those with large estates and copious assets. While estate planning can be valuable for those with many assets, it can also prove valuable for just about anyone. Any Florida residents with any amount of assets can benefit from an estate plan as they protect not only the interests of the estate planners, but the interests of their loved ones as well.

How to protect the interests of inheritors in an estate plan

Estate planning serves to protect the interests of the loved ones of Florida residents. A well-planned estate can leave loved ones with clear-instructions as to how assets should be distributed following a person's passing. In the absence of an estate plan, family members may have to involve themselves in messy court room situations. What's more, they may have to deal with unwanted tax issues that often arise when a well-prepared estate plan is not in place.

Estate planning preserves assets, protects interests

Some Florida residents may feel intimidated by the estate planning process. In many cases, this intimidation can be chocked up to a lack of knowledge regarding the various components involved in estate planning. Oftentimes, after learning of the purposes the various components of estate planning serve, many come to realize not only the benefits of drafting a solid estate plan, but the importance of doing so for both the person planning the estate and their family.

Famous actor shows the importance of estate planning

Florida residents may be aware of certain myths about estate planning. One of the more popular myths is that estate planning is only for elderly or very wealthy people. This is simply not true. Estate planning can benefit any adult who has any amount of property, loved ones and health care wishes -- which includes pretty much everyone -- and it is a process that many should consider sooner rather than later.