Clients are urged to consult with their Glantzlaw attorneys to ensure that their long-term decisions are carried forward. Our attorneys are highly experienced in assisting clients with Wills, Trusts, and Estate Planning. Your will or trust helps to fulfill your wishes regarding your chosen beneficiaries and your estate planning designates your Personal Representatives, Trustees, and Guardians for minor or disabled children and can minimize estate taxes. If you die without a will, the State of Florida decides who the beneficiaries are without regard to your wishes or your heirs’ needs (also known as “intestacy”).
It is important to keep your will or trust current in the event of changes such as: financial circumstances, beneficiary financial circumstances, personal relationships, new beneficiaries, beneficiaries who may have died, tax laws and domicile (state of residence).
Estate planning often involves setting up a Trust to provide for asset management or other individualized planning. A Revocable Living Trust avoids probate, yet allows you to still retain full control of those assets and the trust can be amended or changed at your discretion.
Upon death, all assets held in a Revocable Living Trust are distributed, in the manner specified by you in the trust document, without probate expenses and with minimized delay.
As part of a comprehensive estate plan, three documents, known as “Advanced Directives,” should be carefully considered and discussed with an attorney.
A Declaration to Physicians (“Living Will”) authorizes an individual to make decisions regarding the withholding or withdrawing of medical procedures calculated to artificially prolong life, or to withdraw nutrition and hydration (food and water) administered artificially. It states your wishes for the degree of life-sustaining medical intervention you want, or don’t want, in the event you become terminally ill and unable to communicate your wishes.
A Health Care Power of Attorney allows you to designate a Health Care Surrogate, effective only if you are incapacitated, to make health care decisions during periods of incapacity.
With a Florida Durable Power of Attorney you may name someone to act as your agent in handling of financial matters. If you do become incapacitated without a Durable Power of Attorney, a Guardianship may be required.
Discuss estate planning with your Glantzlaw attorney, and we will guide you to the best options suitable for your individual needs and protection of your loved ones.