J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

A different take on estate planning

Few people relish the idea of dealing with their own mortality. On the other hand, planning ahead can help make the end of a person's life less stressful for them and for their family members. An estate plan can cover a person's wishes for a variety of situations, including the person's healthcare decisions, should they become incapacitated. Furthermore, most people think of an estate plan as a way to distribute their assets, upon their death, to the people that they care about.

A robust and well-prepared estate plan is a very valuable tool in carrying out a person's final wishes for the end of their life and beyond. Thus, Lakeland area residents should all think about whether it's time for them to move forward with putting together an estate plan. But, even the most advanced estate planning and strategies are only as good as the people who ultimately have to carry out the plans.

Recently, an author and Certified Financial Analyst shared his point of view about executing an estate plan. Charles Sizemore explained that estate plans are as much about people as they are about proper legal documents. In other words, having all of the correct filings and paperwork is no good if the people who are left to execute the plan have no idea what to do.

Sizemore noted his own estate plan and his difficulties explaining the plan to his spouse and other family members. He repeatedly attempted to explain what they needed to do if he were to die unexpectedly. But, after getting nowhere with these attempts, Sizemore decided that the best option would be to rely on his attorney. He finally turned over all documents and information related to his estate plan to his attorney.

Like Sizemore, Florida residents who are working on their estate plan can rely on an experienced attorney to maintain pertinent information related to their plans. This can help make the estate planning and execution process less daunting.

Source: Forbes, "The Single Most Important -- And Unconventional -- Estate Planning Tip You Will Ever Get," Charles Sizemore, March 19, 2015

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