Wills, Trusts and Estates Our attorneys are prepared to assist in all aspects of estate planning, including the preparation of living wills to the administration of trusts. Power of Attorney Living Will Health Care Surrogate Designation Basic Last Will & Testament Will with Trust Provision Will with Provision for Minor Children Will Disputes Probate Administration Revocable Trusts Irrevocable Trusts Asset Protection Land Trust Trust and Land Trust Administration    What is Estate Planning? Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker. Estate planning covers the transfer of property at death as well as a variety of other personal matters and may or may not involve tax planning. The core document most often associated with this process is your will.    What happens if I die without a will? If you don't make a will or use some other legal method to transfer your property when you die, state law will determine what happens to your property. Generally, it will go to your spouse and children or, if you have neither, to your other closest relatives. If no relatives can be found to inherit your property, it will go to the state. In addition, in the absence of a will, a court will determine who will care for your young children and their property if the other parent is unavailable or unfit to do so. If you are part of an unmarried couple, your surviving partner will not inherit anything in Florida unless you have a will.    What is a health care surrogate form? This is a document that designates who you want to handle your health care needs should you be unable to discuss these with your doctor. Normally, a spouse is automatically your health care surrogate, but you should always have a backup in case your spouse is unable to act in this capacity.    What is a durable power of attorney? This document allows your designated attorney in fact to make financial decisions and handle your financial needs while you are unable to do so. A durable power of attorney is very important if you are temporarily unable to pay your bills. The attorney in fact can access your bank accounts to keep your bills current until you recover. This document is terminated at the time of your death.    What is a living will? Living wills allow you to designate whether you want to be put on life support and under what terms you do not wish to be put on life support. This document helps ease the minds of your family and allows the doctors to follow your wishes. It is a very hard decision for any family to go through on whether or not life support should not continue and this document takes that decision out of their hands.    Do I need a trust? Trusts are arrangements where a trustee holds legal title to property for another person. The benefits of trusts are that you can avoid probate. Probate is the court-supervised process of paying your debts and distributing your property to the people who inherit it. Probate can take months to complete and can be expensive. There are many different types of trusts, living trusts and irrevocable trusts are just a few.    What is a living trust? You can be the trustee of your own living trust, keeping full control over all property held in trust. A "living trust" (also called an "inter vivos" trust) is simply a trust you create while you're alive, rather than one that is created at your death. Different kinds of living trusts can help you avoid probate, reduce estate taxes, or set up long-term property management.    How does a living trust avoid probate? Property you transfer into a living trust before your death doesn't go through probate. The successor trustee -- the person you appoint to handle the trust after your death -- simply transfers ownership to the beneficiaries you named in the trust. In many cases, the whole process takes only a few weeks. When all of the property has been transferred to the beneficiaries, the living trust ceases to exist.    Does a living trust protect property from creditors? No. A creditor who wins a lawsuit against you can go after the trust property just as if you still owned it in your own name. This is true even after your death. On the other hand, probate can also offer a kind of protection from creditors. During probate, known creditors must be notified of the death and given a chance to file claims. If they miss the deadline to file, they're out of luck forever.    What is an irrevocable trust? Irrevocable trusts are similar to living trusts in that your assets do not go through probate at the time of your death. However, once an asset is transferred to a revocable trust, you no longer have control over that asset. The benefit of this type of trust is that the assets are protected from creditors. Please call our office to schedule a consultation to determine if a trust is right for you and what type of trust you should have.