Lakewood Ranch, FL
(941) 928-0310
Lakewood Ranch - Bradenton Legal Services
Florida estate planning is the process of anticipating and arranging for the management and disposal of an individual's estate during his or her lifetime and at and after death, while minimizing gift, estate, generation skipping transfer, and income tax. Estate planning includes planning for incapacity as well as reducing or eliminating uncertainties over the administration of a probate estate and maximizing the value of the estate by reducing taxes and expenses. The ultimate goal of estate planning is your specific goals, and may be as simple or complex as your needs dictate. Guardians are often designated for minor children and beneficiaries in incapacity.
MARC J. SOSS, JD, LL.M.
LAKEWOOD RANCH - WILLS TRUSTS ESTATES LAW
The Estate Planning Tools
Last Will ("Will"): A classic and essential Florida estate planning tool. The instrument spells out: the individuals or charities (College, University, Cancer Research, Military Care, Church, etc..) that you desire to inherit your assets upon your death; and appoints an individual(s) or entity (Bank, Trust Company, etc..) to serve as the personal representative (administrator or executor) of your estate. A Will may be utilized to appoint a legal guardian for a minor child(ren) in the event both parents are deceased.
Power of Attorney: This Florida document designates an individual or entity to assist you with the handling of your personal financial matters. It is typically utilized when an individual becomes incapacitated or is no longer able to handle their own financial affairs, due to injury or illness.
Health Care Surrogate: This Florida document designates an individual to make health care decisions for you if you are unable due to physical or mental incapacity. A health care surrogate will have the power to decide when to withdraw medical procedures.
Living Wills: A Florida living will allows your family, doctors, and health care providers to make decisions concerning your continued medical treatment. A Living Will advises what are you desires when you are mentally and physically incapacitated.
Revocable Trust: A Florida Revocable Trust (a/k/a Living Trust) provides a method to avoid Florida probate proceedings. Like a Will, it spells out: whom you desire to inherit your assets upon your death; and appoints an individual(s) or entity (Bank, Trust Company, etc..) to serve as the Trustee (administrator) upon your death.