The process of estate planning can easily be done correctly and for a reasonable price -- sometimes even for free. Many competent estate planning attorneys in Florida can usher someone through the process, or individuals can enlist the help of some of the endless amount of resources available online. Time and monetary commitment is no longer an excuse for putting this important chore off. Ignoring estate planning, or putting it off, will only lead to loved ones bearing additional heartache and stress.

For example, if one dies without a will, the estate will be entered into probate, where the family hardships begin. Probate court goes through the tedious process of compiling a list of assets, testing the validity of a will, appraising all assets and distributing them. Not only does this tie up an estate, keeping it out of the hands of loved ones, but the estate is also subjected to steep taxes. Sometimes, taxes can take a 5-10 percent bite of the estate's entire value if it is worth enough.

Instead, one can simply take some ultra-simple measures to make sure that it does not happen. Forming a living trust or life estate trust will automatically transfer properties to selected heirs upon death. Similarly, setting up bank or retirement accounts to be transferred to a loved one upon death is simple.

Keeping the government out of the estate planning process is in everyone's best interest. By taking a few simple steps, one can maintain the power over his or her own estate plan. Of course, these are general estate planning tips. With more assets comes more intricate planning, and it might be necessary to consult with an experienced professional to help ensure that all bases are covered.

Source: Worcester Business Telegram, "Ignore estate planning at your own peril," Jan. 8, 2012