Estate Planning Can Give You Peace of Mind in Disaster Situations
Hurricane season always brings a sense of dread, even for the most seasoned Floridians. However, you can maintain some peace of mind by having an estate plan established long before a major storm hits.
Below are a few examples of ways in which having an estate plan helps when you’re dealing with the effects of a natural disaster:
Death or incapacitation
In a worst-case scenario involving your death or incapacitation, your estate plan will outline your wishes. Through durable power of attorney, you can give a trusted friend or relative the ability to make certain medical- and finance-related decisions on your behalf.
Wills and trusts allow you to clearly outline who will receive certain assets and property. And, living wills provide directions to your physicians on the healthcare decisions you would make in certain circumstances.
If you already have your funeral wishes outlined in your estate plan, your loved ones will not need to worry about making those plans while they’re already grieving and recovering from the disaster. Your family will greatly appreciate having one less thing on their minds.
If the worst-case scenario comes to pass, it’s important you take care of your kids. In your estate plan, you can name your children as beneficiaries to certain policies and accounts, such as life insurance and retirement plans. You may also name guardians to watch over minor children. If you do not name a guardian, the court will choose one for you based on a judge’s determination of who is best suited to handle the responsibility.
To learn more about the benefits of estate planning ahead of disaster scenarios, speak with an experienced Florida estate planning lawyer at The Charles Law Offices.