Florida Estate Planning
A will is among the most basic and essential of estate planning documents. Yet, a 2016 Gallup poll revealed that fewer than half of U.S. adults have wills. Those numbers improve among older individuals and those with more assets, but still fall short. Do not leave your loved ones vulnerable for one more day.
Many people think of trusts as something a wealthy person uses to provide for young adult children. However, trusts serve many important purposes beyond those portrayed in novels and on television. Florida law provides for the creation of many different types of trusts, to achieve many different goals. Learn more about how you may be able to use a trust to protect assets, provide for loved ones, or pass property without probate.
A durable power of attorney differs from other Florida powers of attorney in one critical way: it does not terminate if the principal becomes incapacitated. Thus, a durable power of attorney is required if the principal intends to provide a trusted person with decision-making power if the principal becomes unable to manage their own affairs. Learn more about how you a durable power of attorney can ensure that you achieve
your goals and protect your access to care.
Being a parent is a big responsibility, and that means tackling even the most unpleasant of issues. Of course, parents want to believe they’ll be there to raise their children to adulthood. And, in fact, most parents will never have need of a guardian for their children. But, responsible parenting requires preparing for the worst.
Carefully considered advance directives not only give you the power to make decisions about your own care, but can also alleviate the burden on your family. However, incomplete or unclear directives can do more harm than good. Give yourself and your loved ones the peace of mind that comes will a well-formulated healthcare plan.
Florida Estate Planning
A solid estate plan will protect you, your family, and your assets during your lifetime and beyond. Your estate plan begins with a will or a living trust to pass assets after your death, but a comprehensive estate plan includes many other elements. Some examples include advance healthcare directives, powers of attorney, and provision for guardianship of minor children. When you retain Elite Estate Planning, attorney Gary L. White will take the time to get to understand your circumstances, your goals, and your priorities so he can assist you in constructing an estate plan that benefits you and your family during your lifetime and after your death.
Protect Yourself & Your Loved Ones Against Future Unknowns.
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"My wife and I have met twice with Mr. White to initiate and complete our estate planning. He was very cordial, and his advice was clear and concise, while being comprehensive. He encouraged questions and answered them all. We definitely got "elite" service from Mr. White." - Steve Morris
Estate Planning is Essential for Everyone
If you think you’re too young, have too little income, or do not own enough assets to need an estate plan, you’re in good company. These beliefs are common, but they’re also mistaken. And, that misinformation can have serious consequences.
Your estate includes everything you currently own, as well as your future assets, whether they be significant assets such as real-estate and brokerage accounts, or, if you just own a checking account, used car and family photos. Virtually everyone has something they would like passed along to a specific person, even if those items do not have significant monetary value. And, most of us would prefer to choose the person who will inventory and distribute our belongings when we are gone, rather than leaving that task to chance. But, that’s just one reason to plan ahead. There’s much more to an estate plan than directions for passing property after your death.
Some key elements in a comprehensive estate plan include:
A will or living trust to pass property after your death
Strategic titling of property to facilitate transfer of assets and manage tax obligations
Advance healthcare directives to make your wishes known and appoint a trusted person to make medical decisions if you become incapacitated
Powers of attorney to ensure that the person you choose can manage your financial and other affairs if you become incapacitated
Provision for the care and support of your children if you pass away while they are minors
Neglecting these issues today can cause significant problems for you and your family tomorrow. For example, when you pass away without a will, intestate succession may have unexpected results, leaving your dependents in difficult circumstances. Or, failing to appoint a healthcare surrogate could mean that decision-making falls to an unqualified family member, or could cause conflict among your loved ones.
Key Elements in an Effective Estate Plan
Talk to an Estate Planning Attorney Right Away
Whatever your age or financial situation, you owe it to your loved ones not to leave the future to chance. Take the first step toward protecting them right now, by scheduling a consultation with an experienced estate planning lawyer.