COMMONLY SHARED ESTATE PLANNING GOALS OF MARRIED COUPLES
Estate planning serves a vital function for most Florida residents and married couples are no exception. Just like everyone else, married couples usually have certain goals in mind when it comes to estate planning. Though it may sometimes seem as though these goals greatly vary from couple to couple, when they are boiled down to their essences there are usually just a few basic estate planning objectives that are shared by most couples. Having a clear understanding of these objectives can be of great aid when structuring an estate plan.
The first and most obvious goal shared by nearly all married couples is to make sure that loved ones are provided for in the event that one or both spouses passes away or falls into a state of unconsciousness. According to one article, it is most common for married couples to want to protect the surviving spouse, children, grandchildren and other, more remote relatives. Sometimes, couples also desire to provide for pets.
Next, married couples also often want to minimize taxes in estate planning. Minimizing taxes allows married couples to provide loved ones with the maximum amount of assets possible. Couples may also desire to protect assets from creditors and possibly even future spouses in case the couple should divorce. Protecting assets and minimizing taxes can help couples achieve the first goal of providing for loved ones.
Though these may prove to be among the more common estate planning goals, every couple has unique objectives when it comes to structuring an estate plan. Some couples may be concerned with asset management, making sure to leave their estate in the right hands. Others may simply wish to evenly divide their assets among loved ones. Whatever one's estate planning goals may be, a well-structured plan can be of immense aid when pursuing such objectives.
Equip yourself with the support of Rignanese & Associates’ Legal Eagles Team today! Facing a legal situation in estate planning can be daunting, but you do not have to navigate it alone. Our skilled lawyer and dedicated team focus in estate planning matters, ensuring you receive the precise assistance and representation you need. Do not let uncertainty or stress hold you back any longer. Take action now and call us at 863-294-1114 to schedule your consultation. Together, we will achieve your goals.
On behalf of J. Kelly Kennedy, Attorney/CPA, PLLC posted in Estate Planning on Friday, May 23, 2014.
Source: Forbes, "Eight Common Estate Planning Objectives Of Married Couples," Lewis Saret, May 13, 2014