Adults of all ages benefit from the creation of both a Last Will and Testament and a Living Will. These legal documents ensure the carrying out of your beliefs and values in your absence.
Usually, people create or update their Wills upon marriage, having a child, changing jobs or reaching retirement age. Having a current Last Will and Testament is extremely important, but it is only one part of your Estate Plan. An Estate Plan is a set of directions for how your money, assets and belongings are handled before and after your death.
Prenuptial agreements are a proactive way to protect your individual and marital assets. A Will ensures the proper allocation of assets. Real estate properties, investments, pensions or IRAs are examples of assets that require planning.
In short, Living Wills protect you if you are unable to make healthcare decisions for yourself. A living will designates one person, called a Health Care Surrogate, to make health and end-of-life decisions on your behalf.
Do I really need a will?
The laws of Florida direct asset management if you pass away without an estate plan. This can lead to long and difficult probate proceedings for your family, as well as potentially higher estate tax.
Keeping a list of “who gets what” is not sufficient in the eyes of the law. “Valid” wills must meet certain criteria. Reviewing and updating wills after any major life event like divorce, relocation and retirement is essential.
Having a diligent, experienced lawyer can help protect your family from undue stress and ensure your worldly possessions are taken care of. Boyer Law Firm, LLC provides Florida Estate Planning Services including Durable Powers of Attorney and Probate Management. Contact us to schedule a free, 15 minute consultation.
This article been prepared for general information purposes only to permit you to learn more about our firm and our services. The information presented is not legal advice, should not to be acted on as such, may not be current, and is subject to change without notice. If you would like legal advice, please contact us today for a legal consultation.