Your Florida Wills, Trusts, & Estates Explained Simply: Important Information You Need to Know for Florida Residents by Linda C. Ashar

Author:Linda C. Ashar
Language: eng
Format: epub
Tags: Florida, wills, trusts, estates, estate planning, beneficiary, probate, trustee, assets executor, life insurance, power of attorney, advance directives, state law
Publisher: Atlantic Publishing Group
Published: 2012-03-29T00:00:00+00:00

Details, Details

It is all about the details when it comes to any kind of insurance, so be sure to ask plenty of questions

— and be extremely clear about what can, might, should, and will not happen related to your policies. Ask the hard questions, and do not accept anything less than a full response:

• Under what circumstances will the benefit not be paid? Find out all degrees of risk, including the worst-case scenario.

• Which of my assets are at risk and from what?

• What kinds of safety nets can insurance provide?

• What kind of insurance does not have a good cost/benefit balance, considering the details of my estate?

• What amount of coverage is excessive for my situation?

• Are there varying degrees of risk among my possible choices? If so, what are they?

• Why would my estate-planning team reject your recommendation?

Policies

With so many options, selecting what you need can be difficult. Check off those you think you might like to include in your estate plan, and then work with an agent to determine whether you need this kind of coverage.

While you are alive:

_______ Medical

_______ Dental

_______ Vision

_______ Disability — long-term

_______ Disability — short-term

_______ Long-term care

_______ Homeowner’s/renter’s

_______ Car

_______ Umbrella liability

After death:

_______ Life

_______ Whole life

_______ Universal life

_______ Joint first-to-die or second-to-die

_______ Term life insurance

_______ Annual renewable

_______ Decreasing

_______ Level

_______ Group

_______ Funeral/burial

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