It is extremely important that you take steps to protect your assets, especially
if you are entering the golden years of your life. Whether the elderly
need help to preserve assets for their heirs, avoid probate, or protect
themselves against scams, finding an elder law attorney is crucial. Our
firm has compiled some suggestions for Florida seniors to help guard their
finances and make sure that their wishes come to fruition upon their death.
1. Increase Your Insurance Coverage
Reassessing your insurance coverage can help protect you against life’s
various “what ifs” and help put your mind at ease knowing
that you will be financially backed in the event of an unforeseen accident.
If you are a business owner or a licensed professional of some kind, this
has even more importance.
Consider purchasing and/or increasing liability coverage for:
- Malpractice insurance
- Personal liability insurance
- Automobile insurance
- Personal disability insurance
- Homeowner’s insurance
2. Create a Revocable Trust
A revocable trust is a legal entity that allows you to make decisions regarding
the management and distribution of your assets, while you are living and/or
upon your death. This eliminates the need for probate court involvement
and avoiding costly estate administration, at the time of your passing.
A revocable trust also allows you to decide how assets will be distributed
to your heirs and other beneficiaries after your death. Due to the fact
that estate administration can be complex and costly, using a revocable
trust can be an invaluable gift to your family as it simplifies the process.
3. Contact Capital Law Group, PLLC
A Florida asset protection attorney from Capital Law Group can guide you
towards the most appropriate and effective strategy for your situation.
Our lawyers have a wide range of
elder law knowledge that can be used to shield your wealth and make sure that you
will be cared for throughout your later years.
To discuss your situation with an experienced legal professional, contact our firm
or call (561) 623-3314 today!