Estate Planning

Estate Planning

If you are thinking about writing a will or trust document, want to draft an advance directive such as a living will or designation of healthcare surrogate, need an attorney to help you through the probate process, or have a loved one who is temporarily or permanently unable to manage their own affairs, please call Winston Law, P.A. at (561) 670-9375 or email at susan@winstonlawpa.com for more information.

Estate Planning Overview

It is never too early or too soon to start arranging your last health care and property wishes. By using the right estate planning tools you can help ensure that your friends and family honor your last wishes and are accommodated in after your passing. At Winston Law, P.A. we can help you develope estate planning documents, including Last Will and Testament, Durable Power of Attorney, Living Trusts, Trusts, Health Care Surrogate and Living Wills.

Wills

A will is an authoritative document regulating the arrangement of property after death. It is very important to have a legally executed will to ensure that your friends and family honor your final wishes and are accommodated in your absence. A will can no longer be changed after the death of the testator (individual who made the will). Then, the court starts to carry out the estate through a procedure called probate. It is important to prepare for how your estate will be distributed before passing so as to prevent inquiries concerning your propositions which can cause a troublesome and costly probate process.


Revocable Living Trusts

A revocable living trust, also reffered to as a living trust or a revocable trust is an estate planning tool used to handle your property so that after your passing, court supervision is not necessary to allot your property and holdings. A trustee will not only put your possessions in a trust, but he/she will also distribute the trust. You can name yourself as the trustee and name an extra trustee in the occasion of passing or inability.

Irrevocable Trusts

Irrevocable trusts are trusts that remove all the privileges of control and responsibility of the grantor (individual making the trust) over the trust and possessions inside the trust. The trust can’t be altered or changed by the grantor, just the beneficiaries of the trust. The advantages of an irrevocable trust are that it gives asset assurance and tax reductions. All holdings within the trust are no longer a part of the grantor’s taxable estate.


Power of Attorney

A power of attorney is an estate planning tool that allows a chosen individual to handle your financial affairs, for example signing contracts, purchasing and selling land, purchasing and selling a vehicle, or signing tax and bank account records. The powers of the designated person (the individual given the power) may be narrow or wide relying on the language of the document. Since a power of attorney report permits one individual to act in the lawful capacity of another person, it is a very powerful document and should be composed by a skilled and knowledgeable estate planning attorney.

Living Will

A living will is a document that allows you to choose how you would like to be cared for in certain medical circumstances. Within a living will you can decide if you would like life-sustaining measures to be taken in the event that you become debilitated and not able to settle on your own medical decisions.


Designation of Healthcare Surrogate

The designation of healthcare surrogate permits you to name a person to settle on medical choices on your behalf assuming that you become unable to make the choices for yourself. Florida law requires that a designation of a health care surrogate be made in a written document in accordance with Florida Statute 765.203.

Probate

Probate is the court administered process of distinguishing assets, paying off debts and appropriating the remaining assets of a deceased person. Probate is necessary to pass ownership of the decedent’s possessions and belongings to the decedents beneficiaries and to wrap up the decedent’s financial affairs. Provided that the decedent left a legitimately executed will, the court will accept the will and follow it when dispersing assets. If there is no will the court will pass ownership dependent upon Florida inheritance law.


Guardianship

If a loved one becomes temporarily or permanently unable to handle their own financial or medical affairs due to mental or physical incapacity, Winston Law, P.A. can help you by filing a guardianship proceeding.

In the State of Florida, a guardianship proceeding starts with filing a Petition to Determine Incapacity. This petition informs the Court of the incapacitated person’s alleged lack of capacity and the daily activities the person no longer can perform. At the same time, a petition for appointment as guardian is filed by the person requesting to become the guardian for their loved one. The Court will then appoint a panel of medical professionals (the Examining Committee) to evaluate the capacity of the alleged incapacitated person. The Examining Committee will then make a suggestion as to guardianship. The Court will also set a hearing date to make its official finding.


If you or a loved one need a knowledgeable and experienced estate planning attorney please contact Winston Law, P.A. by calling (561) 670-9375 or by emailing susan@winstonlawpa.com for your free consultation.