Estate Planning

Estate Planning: Wills & Trusts

Many Florida residents delay creating a Florida estate plan (Last Will & Testament, Revocable Trust, Power of Attorney, Health Care Surrogate, Living Will & Pre-Need Guardian) to avoid thinking about their own mortality or incapacity. My goal is to work with my clients so that they understand the benefits of having an up-to-date Florida estate plan and walk them through the planning process.

My goal is to work with and never sell you on a particular estate planning technique. Instead, I will present options in clear, plain language and empower you to choose the best solution to protect your assets and family.

Creating an estate plan does not need to be intimidating. Having a plan in place may provide you with a great sense of security because you will know that (i) your family will be taken care of; (ii) individuals will be selected to handle your affairs should you become incapacitated or upon your death; and (iii) your assets will be distributed, after your death, as you wish. Estate planning is for everyone. Individuals who own real property, have liquid assets, own insurance, have minor children, or have other dependents, regardless of the value or size of the estate, marital status, or age, should establish an estate plan to ensure protection of their assets and peace of mind for future generations. In addition, as laws inevitably change, we encourage you to meet with an attorney annually to ensure your plan stands the test of time.

WHAT IS ESTATE PLANNING?

An estate plan is a comprehensive set of documents which creates contingencies for various types of scenarios including your incapacitation or death. An estate plan allows you to leave specific instructions about handling different situations.

This includes:

• Determining who will make health care and financial decisions for you if you’re incapacitated and what powers they will have.
• Determining how your assets will be distributed and in what manner upon your passing or incapacitation.
• Protecting your assets both during your lifetime and for your beneficiaries.
• Reducing the cost, stress, and time involved in having your assets transferred to your beneficiaries.

If you pass away without an estate plan or a will, Florida law will distribute your assets according to intestacy statute under Florida law. This can result in assets being distributed to family members in a way you never intended. If you pass away without a will, your estate will have to pass through a complicated, expensive, and long process called probate.

A good estate plan makes use of legal tools, such as Trusts, to avoid unnecessary costs and transfer your assets quickly and efficiently to your beneficiaries without involving the courts upon your passing.