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Estate planning helps loved ones avoid conflict

On Behalf of | Jan 20, 2021 | Estate Planning

When a Florida estate owner dies without having executed a will, it often leads to contention between loved ones, business partners or others who believe they have a right to certain assets or property belonging to the deceased. There have been many news stories about celebrities whose adult children or other relatives became entangled in lengthy court battles after their famous family member died without having gone through an estate planning process. Such discord often causes extended, if not permanent, rifts between siblings or extended members of a family, particularly spouses from a remarriage and children from a previous marriage or similar situations.

Failing to update an estate plan is a common mistake people make. They execute a solid plan that may include various documents, such as a living will, advance directive, financial power of attorney and more. However, they neglect to periodically review their plans and make changes or updates as needed, such as if there is a birth, marriage or divorce that would necessitate a change in the plan.

Whether a Florida estate owner is a person of meager assets or has an extensive financial portfolio that includes great wealth, it is always a good idea to periodically review one’s estate plan. This helps loved ones or other beneficiaries avoid confusion and conflict when the time comes to administer the plan. An experienced estate law attorney can provide ongoing support to execute an initial plan, as well as to make any changes or updates needed down the line.