Many people think about asset protection when they hear about estate planning. While that’s a critical component, there’s something else to consider – decision-making powers, especially when it comes to medical care decisions. Anyone who’s creating an estate plan...
Jacksonville Estate Planning And Elder Law Blog
What is a letter of instruction?
You can cover most of your estate planning wishes through a few legally binding documents, such as a will, powers of attorney and, perhaps, a trust. More options do exist, of course. Yet you probably have a few thoughts bouncing around in your head that you are unsure...
What’s wrong with an online will?
You can base your whole estate plan on an online will if you wish, but it is not advisable. Despite the apparent ease of creation and the attractive price, for most people, it’s just another of those internet offers that are not as good as the sellers want you to...
Considerations for selecting a fiduciary for your estate
Part of estate planning involves selecting a fiduciary, the person who will play the role of managing and distributing your assets according to your wishes after your death. Your fiduciary can be an executor, trustee, or personal representative, and their role is...
Why new parents need to make an estate plan
People sometimes assume that estate planning is an activity to engage in when they retire. They may be waiting until they are in their 60s or 70s to make a plan that passes their assets on to the next generation. But it can be risky to procrastinate estate planning,...
What are advance directives, and do my aging parents need them?
An advanced health directive can allow your aging parents to clarify their wishes about medical orders like DNR (do not attempt resuscitation) or POLST (physical orders for life-sustaining treatment). Simply put, advance directives empower older adults to make known...
5 different types of trusts
A will is a legal document that helps designate assets to beneficiaries. However, this document can also face taxes, disputes and delays. People can add trusts into their estate plans to avoid these issues. A trust allows a grantor to give assets to a trustee who is...
Understanding liability on contaminated properties in a living trust
Trusts are tricky, but once you get a good grasp of how they work and the responsibilities that come with it, you can add properties without worries. However, when the properties you want to include in your living trust are contaminated, the rules on liability are...
Tips for avoiding probate
Probate is a legal process that can be time-consuming and costly, and it often adds unnecessary stress to an already difficult situation. Fortunately, there are strategies you can employ to avoid probate and streamline the transfer of your assets to your heirs....
Do all creditors get paid during a Florida probate?
Before personal representatives distribute an estate’s assets to the decedent’s heirs and beneficiaries, they should first pay the deceased debts and obligations as part of the probate process. However, this does not mean that every creditor who makes a claim against...