Elite Estate Planning
A solid estate plan will protect you, your family, and your assets during your lifetime and beyond. Your estate plan begins with a will or a living trust to pass assets after your death, but a comprehensive estate plan includes many other elements. Some examples include advance healthcare directives, powers of attorney, and provision for guardianship of minor children.
When you retain Elite Estate Planning, attorney Gary L. White will take the time to get to understand your circumstances, your goals, and your priorities so he can assist you in constructing an estate plan that benefits you and your family during your lifetime and after your death.
Estate Planning is Essential for Everyone
If you think you’re too young, have too little income, or do not own enough assets to need an estate plan, you’re in good company. These beliefs are common, but they’re also mistaken. And that misinformation can have serious consequences.
Your estate includes everything you currently own and your future assets, whether they be significant assets such as real estate and brokerage accounts, or if you just own a checking account, used car, and family photos.
Virtually everyone has something they would like passed along to a specific person, even if they do not have a significant monetary value. And, most of us would prefer to choose the person who will inventory and distribute our belongings when we are gone, rather than leaving that task to chance. But that’s just one reason to plan. There’s much more to an estate plan than directions for passing property after your death.
Key Elements in an Effective Estate Plan
Some key elements in a comprehensive estate plan include:
- A will or living trust to pass property after your death
- Strategic titling of property to facilitate the transfer of assets and manage tax obligations
- Advance healthcare directives to make your wishes known and appoint a trusted person to make medical decisions if you become incapacitated
- Powers of attorney to ensure that the person you choose can manage your financial and other affairs if you become incapacitated
- Provision for the care and support of your children if you pass away while they are minors
Neglecting these issues today can cause significant problems for you and your family tomorrow. For example, when you pass away without a will, intestate succession may have unexpected results, leaving your dependents in difficult circumstances. Or, failing to appoint a healthcare surrogate could mean that decision-making falls to an unqualified family member, or could cause conflict among your loved ones.
There is no one-size-fits-all estate planning solution. Though filling out a form may seem like a quick and easy way to protect your family, it is easy to overlook critical issues. The best way to ensure that your wishes are carried out is to work with an experienced estate planning attorney to draft a will that is customized to your circumstances, goals, and priorities.
Many people think of trusts as something a wealthy person uses to provide for young adult children. However, trusts serve many important purposes beyond those portrayed in novels and on television. Florida law provides for the creation of many different types of trusts, to achieve many different goals.
Durable Power of Attorney
A Durable Power of Attorney empowers a trusted person to manage your finances and other affairs if you become unable.
Nomination Of Guardians For Minor Children
Igniting the people who will protect and care for your children if you are unable is one of the most important decisions you’ll ever make. An experienced guardianship lawyer can help you determine the most effective type of guardianship for your family and secure your children’s future. You can get started right now—just contact Elite Estate Planning to schedule a consultation.
Advance Healthcare Directives
When a serious accident or illness strikes, you may be unable to make or voice decisions about your medical care. At that point, it is typically too late to appoint someone to make those decisions for you or to execute directives that will guide your medical team.