Estate Planning in Miami: GoFundMe is NOT an Estate Plan

lawyer signing estate planning contract

You’ve more than likely seen it all too often, a friend passes away and their loved one drops a GoFundMe link into a Facebook post. Usually, a family member or a close friend of the family volunteered to start one. The immediate family members were way too distraught to even think about funeral planning. 

How could this be? Their loved one was alive and well just the other day!!! 

You take a peek at their page to see when they made their last post. You discover it was only 2 days ago. They weren’t even sick!

So, the family member posts. Hoping that friends, family, or ANYONE at this point will contribute money to their loved one’s funeral expenses using GoFundMe. 

This is unfortunate for many families across Florida. You do what you have to do in times of financial need. It’s understandable. But, how can this be said, politely? 

GoFundMe is NOT an estate plan. It should not be an option at all. Not even a Plan ‘B’. this is why GoFundMe is not a good idea. 

Benjamin Franklin said it best: “If You Fail to Plan, You Are Planning to Fail.” 

Daymond John once quoted:

“I don’t want to leave my kids an inheritance, I want to leave them a legacy.”

Some people take his quote literally! Unfortunately.

But, in reality: “A good man leaves an inheritance to his children’s children …” — Proverbs 13:22.

The truth about GoFundMe for funeral expenses

If you truly care about your loved ones, which you do. Leave them with peace of mind, let that be the legacy. They should have peace of mind knowing that when you are gone, all they have to go through is the grieving process, not the stress and headache of trying to raise money to pay for funeral expenses, as it would be when using GoFundMe for funeral fundraising. 

If you have made it this far in reading, and you’re still not convinced that Estate Planning in Miami is truly necessary. Continue reading…

What is Estate Planning?

Estate Planning is the process of creating a plan in advance for how you want your estate to be managed in the event of your incapacity or death. Everyone should have one created by a specialized Miami estate planning attorney, regardless of the size of their estate. 

Why is estate planning important

But, why is estate planning important? Here are three good reasons why you should have an estate plan. 

#1 Reason: Estate planning can help ensure that your wishes are met. You can use estate planning tools such as a will or trust to express your wishes for how you want your assets to be distributed after your death. This can provide peace of mind knowing your loved ones will be taken care of according to YOUR wishes and not the court of law.

#1 Reason: Use Wills and Trusts to bring peace of mind

Estate planning can help ensure that your wishes are met. You can use estate planning documents such as a will or trust to express your wishes for how you want your assets to be distributed after your death. This can provide peace of mind knowing your loved ones will be taken care of according to YOUR wishes and not a court of law.

#2 Reason: Minimize conflict managing your assets with estate planning

Estate planning can help minimize the potential for conflict among your heirs. Without a plan in place, loved ones may disagree about how to best manage your estate, which can lead to costly and time-consuming litigation. By having a clear plan in place, you can keep your family out of court and out of conflict, and assuring them peace of mind

#3 Reason:  Estate plan tax strategies to save money

You can help minimize taxes and other expenses with the right estate plan tax strategies, developed by a specialized attorney. Careful estate planning can minimize estate taxes and other expenses, such as probate fees. This can ultimately save your loved ones money and stress at an already difficult time. 

For these reasons and more, you should have an estate plan in place, developed by an experienced estate planning attorney who will work hand-in-hand with you to ensure your wishes are well stated in your will and trust. 

Estate planning is one of the most important steps a person can take to protect their family and assets. While it may be challenging to think about, having an estate plan in place can provide peace of mind knowing that your loved ones are taken care of if something happens to you.

To learn more about the importance of Estate Planning read our article here. 

h2 Work with an experienced Estate Planning Attorney in Miami 

A professional estate planning attorney in Miami like Joe Pujol, at Pujol Law firm, can help you create a plan that meets your unique needs and objectives. 

If you have questions about estate planning, wills, and trusts or need help getting started, please don’t hesitate to contact our estate planning law firm or give us a call at (305) 447-0059. We would be happy to assist you in creating an estate plan that meets your needs and protects your loved ones financially.

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