Call us today!
Call us today!
It can be difficult to think about what will happen to your assets after you die, however, your loved ones and heirs will greatly benefit from your advance planning. Estate planning not only covers what happens to your assets after you die, but it covers how your finances are managed while you are still alive in the event that you are unable to take care of yourself, such as in the event of an accident or healthcare emergency. When you contact Sonya Colon to begin the planning process, she will determine the documents that are best suited for your situation, whether it may be a will, a trust, or an enhanced life estate deed, and work with you to make sure your wishes are appropriately documented so you can have peace of mind.
A Will sets forth your wishes for distribution of your assets upon your death. However, a Will does NOT avoid probate for your estate. A Will also does not apply to those assets that are held jointly, with payable- on- death beneficiary designations, or held in trust. Under Florida law, there are special requirements in order for your Will to be considered valid. There are additional execution requirements in order that the witnesses to your will do not have to testify upon your death as to the valid execution of your will. Many times people will use a form downloaded from the internet for their Will and crucial elements are missed and the person's intentions are not carried out. We can help make sure your Will is drafted precisely and executed correctly in order for your wishes to be carried out.
We can help you determine if a Trust would be more appropriate for your estate planning needs. Some families have special situations, such as beneficiaries who have special medical needs or beneficiaries who require their inheritance to be distributed over a period of time. Additionally, a trust is an important tool for avoiding probate.
We can assist you with preparation of a deed to achieve your estate planning goals. Whether it is a deed to add your spouse to the title of your home, to transfer your property in (or out) of a trust, or a "Ladybird Deed," which may help your beneficiaries avoid the expenses of a probate when your home is your only asset.
A Durable Power of Attorney is useful for your loved ones when you are incapable of making your own financial decisions, such as in times of illness or mental incapacity. A durable power of attorney is NOT valid upon your death and therefore, you may want to consider additional estate planning. (POA's that are executed now can be used whether you are incapacitated or not)
Your medical decisions are important. You can make your wishes known in advance and choose loved ones to be in charge of making those decisions for you when you cannot using a Health Care Surrogate/Advance Directive.
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