A trust can be a helpful tool when you are creating your estate plan. Trusts do not require a judge to step in to disburse them, and they give you a lot of control over what happens after your death. The Florida Statutes lay out the rules for how to create a trust. It...
Estate Planning
How can I avoid estate planning mistakes?
You know that having an estate plan is vital to protecting your assets and heirs after you are gone. According to Kiplinger, avoiding estate planning mistakes is equally important when it comes to your assets. While professional assistance is best when estate...
How may a POA and a living will communicate my medical wishes?
A severe injury or illness may leave you unable to discuss medical issues with your health care providers. As the American Bar Association explains, a durable medical power of attorney authorizes a chosen and trusted individual to communicate for you. Doctors may...
How much control may I have with a living trust?
A revocable trust, which is also referred to as a living trust, gives you a great deal of control over your assets until your death. As noted by Bankrate.com, your trust may own your property and you may transfer assets in or out of it at any time. After creating your...
A basic estate planning checklist
Floridians who are preparing to create estate plans can follow a simple checklist to simplify the process. Estate planning should be viewed as an ongoing process instead of the creation of static documents. Preparing properly and following some simple tips can help to...
Avoid probate by registering a transfer on death
Most Florida residents have heard about using estate planning as a way to avoid probate. The probate process can take a long time and incur fees and tax consequences that chip away at an estate. One way to get assets straight to your beneficiaries and skip probate is...
Preparing for incapacity
It is a reality of life that people think that nothing bad will happen to them. This is why many Florida families end up in a lurch when a loved one ends up incapacitated. This is something that you can plan for ahead of time as part of your estate plan. You can...
What to consider before creating an irrevocable trust
An irrevocable trust may ensure that you don't lose key assets to creditors, a spouse or other parties. However, it's important to note that you'll effectively lose control over any items that are placed in such a trust. Furthermore, there is a chance that a Florida...
How do you update your estate plan after a divorce in Florida?
Estate planning can be mentally and emotionally exhausting, but it’s necessary. If you’ve already planned your estate, it’s important to keep up with it. A common life event that might require you to update your estate plans is divorce. Depending on how amicable the...
The importance of including digital assets in an estate plan
If you do your banking online, have a social media profile or receive email, you have digital assets within your Florida estate. Therefore, it is important that you account for these assets when creating your estate plan. Doing so may make it easier for your estate...