Most people use wills to distribute the assets and property after death. However, sometimes a will may not have been updated to reflect changes in the person's family. In other instances, a descendant or surviving loved one may have a serious dispute with the will's instructions. States have set up a number of laws to resolve those situations. In some cases, a surviving spouse, child or grandchild may have a legal claim to property even if they were not named in a will.
People who have retired to Florida often have to make significant estate planning decisions. Those who have capital tied up in assets such as a home, IRA or business investments may feel overwhelmed when attempting to divide the estate equally among their heirs. These decisions may seem even more complicated when an heir is involved in a problematic marriage that may potentially end in divorce. Parents may also consider how well their children manage their own finances.
Florida residents with a troubled family member may be unsure of how to work out the details of their estate plan. For instance, if a child or grandchild has a drug addiction, it may not be in their best interest to leave them with a large inheritance. Likewise, leaving money or property to a family member with a gambling problem could serve to enable their addiction.
People in Florida and elsewhere who are beginning to consider how their assets should be passed along after they die often wonder who to share their thoughts with. Some people may embrace in-laws and others may only wish include children and grandchildren in their estate planning.
Florida residents may be aware that part of a successful estate plan is ensuring that adequate funds are available to provide for the rest of the grantor's life. Successfully planning a person's retirement requires assessing the situation and making changes as necessary. Some areas, such as Florida, may be more affordable for individuals to retire due to lack of income tax or other factors.