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 to start arranging your final health care and property wishes. By utilizing the correct estate planning tools you can be sure that your friends and family honor your final wishes and are accommodated for after your passing. At Winston Law, P.A. we can help you to create 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 lawfully executed will to ensure that your friends and family follow your final wishes and are accommodated for in your absence. A will can no longer be modified after the death of the testator (individual who created the will). Then, the court starts to carry out the estate through a process called probate. It is essential to prepare for how your estate will be distributed before your death so as to prevent inquiries and questions concerning your propositions which can cause a troublesome and costly probate process.


Revocable Living Trusts

A revocable living trust, also known 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 allocate 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 designate yourself as the trustee and name an extra trustee in the occasion of death or inability.

Irrevocable Trusts

Irrevocable trusts are trusts that eliminate all the privileges of control and responsibility of the grantor (individual making the trust) over the trust and possessions within the trust. The trust is not able to be altered or modified 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 inside 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 enables a designated individual to handle your financial affairs, for example purchasing and selling land, signing contracts, 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 depending on the language of the document. Since a power of attorney report permits one individual to act in the lawful capacity of another individual, it is a very powerful document and ought to be composed by a proficient and knowledgeable estate planning attorney.

Living Will

A living will is a document that allows you to choose the way in which you wish to be cared for in certain medical situations. Inside a living will you can decide if you want life-sustaining measures to be taken in the event that you become debilitated and unable to settle on your own medical decisions.


Designation of Healthcare Surrogate

The designation of healthcare surrogate allows you to name an individual to settle on medical choices for your sake assuming that you become unable to make the choices for yourself. In the State of Florida it is required that a designation of a health care surrogate be made in a written document following Florida Statute 765.203.

Probate

Probate is the court administered process of dividing 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 monetary affairs. Provided that the decedent left a legitimately executed will the court will accept the will and comply with it when distributing assets. Assuming that there is no will the court will pass ownership depending on the State of Florida inheritance law.


Guardianship

If a loved one becomes temporarily or permanently unable to manage 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 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 is no longer able to 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 recommendation 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.