Estate Planning 

WHEN MIGHT I NEED ELDER LAW SERVICES?

• Parents with Minor Children: Who would have guardianship/custody of your children in the event of your death or incapacity?

• New Florida Residents: Are your estate planning documents from another state valid? Are you taking advantage of Florida’s favorable estate planning laws?

• Florida Real Estate Owners (Snowbirds):  Are you subject to Florida’s probate laws? Should you become a Florida Resident to avail yourself of the financial advantages of Florida Residency?

• Non-U.S. Citizens:  Do you have U.S. compliant documents in the case of incapacity? As a property owner, are you subject to Florida probate and other laws? Are your world-wide assets above the U.S. estate tax threshold?

• Parents With Children From a Previous Marriage:  Will you be able to preserve your assets for your children while providing for your current spouse?

• Business Owners: How can you most effectively pass your business to your loved ones? What if they want to sell? How do you ensure that you have a proper succession plan in place?

• Widows and Widowers: Have your estate planning needs changed since the passing of your spouse? Do you have an effective plan for passing your assets to your family according to your wishes?

• Assets Over $5 Million:  How can you use effective estate planning techniques and gifting to avoid estate taxes on estates over $5.43 million while still ensuring your lifestyle will be protected for as long as you live?

• Change of Life Circumstances: Have you had a birth, death, marriage, divorce, relocation, inheritance, etc. in your family that require you to re-look at your estate plan in order to make sure your plan reflects those life changes?

• Asset Protection Needs:  How can you take full advantage of Florida’s generous homestead laws? How can you maximize privacy and anonymity? How can you discourage frivolous lawsuits?

• Charitable Contributions:  How do you make sure that charities close to your heart will benefit from your assets?

• Engaged and/or Newlywed Couples: As an engaged couple, should you consider a pre-nuptial agreement in order to preserve assets and avoid disputes? As a newlywed couple, do you have an effective estate plan in case of incapacity or death that considers your spouse?

• Lesbian and Gay Couples:  Given evolving laws, do you have an effective estate plan to ensure that your assets are distributed according to your wishes?

• Unmarried Couples: Given that Florida’s special spousal provisions do not apply to unmarried couples, do you have an estate plan that effectively provides for your partner?

• Pet Owners:  What will happen to your pets if you are not able to take care of them? Who will pay for your pet’s expenses? Will your pets be separated?

• Terminal Illness: What steps should be taken upon finding out that death is imminent? How quickly can estate planning document be executed in such a situation?
  

BASIC ESTATE PLANNING DOCUMENTS

Everyone should have basic estate planning documents:

• Last Will and Testament

• Health Care Surrogate

• Living Will

• Declaration of Pre-Need Guardian

• Childcare Authorization

• Hospital Visitation

• Instructions to Loved Ones

ADDITIONAL ESTATE PLANNING TECHNIQUES

Certain situations require additional techniques:

• Revocable Trust

• Irrevocable Trust

• Special Needs Trust

• Land Trust

• Life Insurance Trust

• Asset Protection Techniques

• Estate Tax Avoidance

• Charitable Trusts

• Health Care Surrogate

• Pet Care Trusts

ALTERNATIVE ESTATE PLANNING OPTIONS

Alternatives to traditional estate planning can also be effective when appropriate:

• Lady Bird Deeds

• Payable on Death Accounts

• Retirement Account ​Beneficiary Designations

• Gifting Plans