Estate planning allows you to have a plan in place to provide for your family and loved ones in the event of incapacitation or death. Based upon your assets and your ultimate goals & wishes, we will work with you to craft a unique estate plan that will give you peace of mind for the future. No matter your age or financial situation, having an estate plan in place is essential for ensuring what you worked for during your lifetime goes to those whom you intend. Although thinking about your final wishes can be difficult, knowing your options and putting a plan in place will leave you with peace of mind that in the event of your passing, your family and loved ones can be provided for.
At the Law Office of King & Mannion, P.A., our attorneys work with you to form a custom estate plan which can include a will, trust, certain deed transfers and also advance directives.
A will allows you to designate, during your lifetime, how you want your assets distributed upon your death. A will does not become effective until your death, so you can make changes as needed over your lifetime. For example, if you have children or have recently been married or divorced, or if you want to make a special bequest/gift to a charity or friend, then you may need to update your will.
A trust is a legal agreement between three parties: the settlor (creator of the trust), the trustee (the person responsible for managing the trust) and the beneficiary (person or entity entitled to receive benefits from the trust). In some situations, a trust can be beneficial as trust property generally does not have to go through probate upon the passing of the settlor. There are several different kinds of trust and strict requirements for creating a valid trust, so hiring an experienced attorney to draft your trust is important.
A deed to your real property can be drafted in a way that legal title can pass automatically to someone else upon your death, which would eliminate the need to probate the property in order to transfer title.
LIVING WILLS DECLARATION
A living will allows a person when they are on their "death bed" to state that they do not wish to have life-prolonging procedures, such as tubes/ventilators, utilized when death is imminent.
HEALTH CARE SURROGATE DESIGNATION
Florida law allows for powers of attorney to include the right for a person to make decisions regarding another person's healthcare. This Health Care Surrogate is given the right to make medical decisions. This is very important when dealing with someone who is not married or when a spouse if not available to provide consent.
DESIGNATION OF PRENEED GUARDIAN
Although most of the Advance Directive documents generally eliminate the need for a court-supervised guardianship, certain circumstances may require the appointment of a legal guardian. This form is intended for you to indicate your preference of who the court would appoint to be named your legal guardian, should you become incapacitated and cannot tell the court yourself.
POWER OF ATTORNEY
A durable power of attorney is a document which allows a person to name another to act for them. The "durable" nature of the document means that so long as certain legal formalities are satisfied, even if a person becomes "incapacitated" as defined by law, the person named in the power can still act for a person when they are unable to act for themselves. It is incredibly important to discuss the impacts of naming a power of attorney, as this legal document can allow them to act for you and they can continue to do so until the power of attorney is revoked.
A limited power of attorney can be drafted to allow another person to act for you for a particular purpose or timeframe - such as in a real estate transaction when you would not physically be present to sign the closing documents.