Most Floridians going through a divorce understand that the process can have a wide range of short-term financial and emotional effects. What's less apparent is how it can affect one's long-term retirement goals. According to research by the Center for Retirement Research at Boston College, households that have been through a divorce have a 7 percent greater risk of not being able to maintain their standards of living in retirement.
Florida has a large population of military veterans. When Veterans' benefits become a part of the public discourse, there is usually wide interest among this state's former military members. Sometimes, however, legislation is proposed that helps the public in general but neglects addressing the special needs of veterans.
Estate planning is important for everyone nearing retirement age or looking to prepare for the final decades of life. However, as part of a military family, there are special considerations to take into account when making arrangements for your future asset distribution.
Florida divorced parents who have custody of their children may be interested in a federal report, Custodial Mothers and Fathers and Their Child Support. While some may believe that single parents get too much support, the statistics paint a different picture.
A majority of Americans, including here in Florida, do not have a will or basic estate planning essentials. Part of the reason is the apparent urban legend that says estate planning is solely for those wealthy individuals who have substantial assets. Many people, however, forget about their family home, which can be a significant asset if the mortgage is paid down or paid off. In that event, estate planning can prevent the common discord that sometimes occurs between heirs after the parent or family member dies.
Elder law planning in Florida is a vital concern to most persons approaching their retirement years. It is a subject that is best addressed as early as possible. Adequate advance planning can allow for maximum protection against a less-than-optimal experience in one's later years. To have the most control over one's life and to assure that the most trusted family members or friends are given authority in the event of incapacity, elder law planning is the best way to prepare.