If You’re Old Enough To Plan A Vacation, You’re Old Enough For An Estate Plan
Summer fun can be had in Florida at any time of the year, but most of the time Floridians are too busy to enjoy it. You spend 51 weeks out of the year stuck in Florida’s horrendous traffic, commuting from one of your gig economy jobs to another or shuttling your children to and from extracurricular activities. This is your week to enjoy some true Floridian recreation, and in Florida, part of the fun is that danger lurks around every corner, and now it is all you can think about. In the short term, you should probably get a grip and just enjoy your vacation. Lightning probably will not strike you as you hasten from the swimming pool to the cabana at the sound of the first rumble of thunder. The chances of getting a brain eating amoeba if you swim in a lake are infinitesimal, and the chances of encountering a man-eating alligator are only slightly higher. The bungee cord probably will not snap if you go bungee jumping, even if you have been a mainstay at Buffalo Wild Wings this year. Once you get back from your vacation in one piece, though, you should revisit your awareness of your own mortality. You should, however, contact a Tampa estate planning lawyer, who will help you write an age-appropriate estate plan.
Estate Planning for the Sandwich Generation
If you are in your 50s the first time you meet with an estate planning lawyer, your impending retirement will be a major focus of the discussion. You should start on your estate plan sooner, and when you are young, your estate plan should focus on the possibility, unlikely though it may be, that you will not live long enough to see retirement. When you get closer to retirement age, you will always have a chance to update your estate plan so that it includes more details about your golden years.
For now, your will should focus on the worst-case scenario. If you died today, would you be buried or cremated, and where? Who would take care of your pets? If you and your spouse both died, who would get custody of your children? If you don’t decide these things, your grief-stricken family will have to decide, or the court will decide for them, perhaps against their wishes.
What about if you don’t die, but you become severely ill? Who should make financial decisions on your behalf? Who should be in charge of communicating with doctors about your healthcare-related wishes? It would be extremely stressful for your family to try to figure out what you would want, while they are also trying to cope with your illness.
Contact David Toback With Questions About Getting Started on Your Estate Plan
A Central Florida estate planning lawyer can help you plan for the worst now so you can come back to the fun parts of estate planning later. Contact David Toback in Tampa, Florida to set up a consultation.