Estate planning is a process, one with which you have likely been engaging for most of your adult life. Even without consulting an attorney, doing things like taking out a life insurance policy, naming a beneficiary on your retirement account, or making a carefully-labeled photo album for future generations to enjoy are all parts of the estate planning process.
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During the weeks leading up to Halloween, everywhere you look there are signs of the spooky season: ghosts, monsters, zombies, and ghouls are hanging from windows and doors throughout Coral Springs. We may even visit a haunted house or see a horror movie. But truthfully, these are not the things that scare us.
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Compared to real estate, bank and brokerage accounts, and insurance policies, family heirlooms do not generally take pride of place in the estate planning conversation. Tangible personal property (things like jewelry, furniture, art, clothing, pets, and household items) is often overlooked during the estate planning process. However, the transfer of “stuff” from the deceased to his or her loved ones can cause the most conflict because the value of the property is often more sentimental than financial.
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As an estate planning practice, we meet with a lot of individuals and families that want to focus on building wealth and developing strategies that will protect loved ones in the future.
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What can artificial intelligence (“AI”) do for you, the potential client? Some forms of AI have the ability to analyze research and provide statistical analysis, just like a lawyer does. Except these forms of AI claim to do it faster and their services are likely cheaper. Is this problematic for the lawyers of the world? Will lawyers be out of a career because of AI and other “do it yourself” websites that allow you to create legal documents at a reduced rate?
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What do you consider your greatest asset? Protect your family and your future with a proper estate plan!
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