What is an estate plan and do I need one?

An estate plan in Florida involves certain legal documents that direct what happens to you and where your property goes after your death. Depending on your situation and circumstances, a basic estate plan can consist of the following documents: will, trust, power of attorney, health care directive, and a living will. It may seem overwhelming but a proper estate plan does not have to be complicated or expensive.

A last will and testament is a legal document that will control how your assets are distributed following your death. You get to decide and identify your beneficiaries, select a legal guardian, and choose who will administer your estate.

A trust is one of the most common ways Floridians attempt to avoid probate. A trust is a legal agreement that allows a trustee to hold and direct assets. Your assets can go into a trust while you are living and then be distributed upon death.

A power of attorney is a type of legal document known as an advanced directive. A properly drafted and executed power of attorney authorizes someone to represent you or act on your behalf. It allows someone you choose to make legal decisions about property, finances and medical affairs.

Being proactive with estate planning takes the stress and hassle away from family members or loved ones and allows you to make the necessary decisions in advance. Without a proper estate plan, your loved ones will need to navigate the probate process, which could cost thousands of dollars. Estate planning is essential, especially if you have children. Don’t be afraid to reach out and ask questions about what type of plan is right for you. We strive to ensure that everyone has a personalized estate plan to meet their situation.