Estate Planning
Estate Plans Offered at Sarah Voss Law, PLLC
Amendments and Restatements to “Stale” Estate Plans
Family circumstances and changes to the law can require estate planning documents to need to be updated. There is no charge for a review consultation.
Couples Packages
Couple Trust Packet
- Joint Revocable Trust
- Pourover Will (each partner)
- Quitclaim Deed
- Durable Power of Attorney (each partner)
- Designation of Health Care Surrogate (each partner)
- Living Will (each partner)
Couple Will Packet
- Last Will and Testament (each partner)
- Quitclaim Deed
- Durable Power of Attorney (each partner)
- Designation of Health Care Surrogate (each partner)
- Living Will (each partner)
Individual Packages
Individual Trust Packet
- Individual Revocable Trust
- Pourover Will
- Quitclaim Deed
- Durable Power of Attorney
- Designation of Health Care Surrogate
- Living Will
Individual Will Packet
- Last Will and Testament
- Quitclaim Deed
- Durable Power of Attorney
- Designation of Health Care Surrogate
- Living Will
Stand Alone Documents
- Preneed Guardian Designation for Minor Child
- Revocable Trust
- Simple Last Will and Testament
- Quitclaim Deed
- Living Will, Durable Power of Attorney, and Designation of Health Care Surrogate (all three come together)
What Happens if I Pass Away Without an Estate Plan?
If you pass away without a proper estate plan, such as a Last Will and Testament or Revocable Living Trust, your assets will be distributed according to Florida’s intestate laws after such assets go through probate. The default inheritance order typically prioritizes surviving spouses, children, and other close relatives, depending on your specific family dynamic. For example, if you have a surviving spouse but no children, your spouse may inherit the entire estate. On the other hand though, if you have a blended family, your spouse may only inherit 50% of your estate. Florida intestate statute dictates this order of priority, and without a proper estate plan, you lose the ability to specify how your assets should be distributed, potentially leading to outcomes that may not align with your preferences. Creating a Last Will and Testament or a Revocable Living Trust allows you to have control over the distribution of your assets and ensures your wishes are followed.
What Does Funding a Trust Mean? Watch Video:
Estate Planning for Young Families with Minor Children
Estate planning for families with minor children is of paramount importance as it involves ensuring the well-being and financial security of the children in the event of unforeseen circumstances. A comprehensive estate plan typically includes the creation of a Last Will and Testament to designate guardians for minor children, outlining who will care for them if both parents pass away. Establishing trusts for minor children is also crucial, allowing for the controlled distribution of assets over time, often contingent on certain age milestones. Additionally, parents can designate a financial guardian or trustee to manage the children’s inheritance until they reach adulthood so that the child’s inheritance is not diminished by expensive attorney fees when a guardianship of the property (inherited money) is necessary. If a child receives a large inheritance by way of outright beneficiary designation while they are under the age of eighteen, a court process and attorney will be required until they become an adult. Building a Revocable Trust is an avoidance to this court process.
Watch Our Video on Estate Planning for Minor Children
Estate Planning for Blended Families
Estate planning holds particular significance for blended families in Florida due to the unique dynamics and potential complexities involved. Blended families often consist of stepchildren, multiple marriages, and varying degrees of financial integration.
It is important to note, that in Florida, stepchildren are not automatically included in the default estate plan for certain assets. Florida’s intestate succession law and statute dictate the distribution of assets when someone passes away without a proper estate plan. Generally, biological or legally adopted children have priority in inheritance, while stepchildren are not included in the default plan. By creating a comprehensive estate plan, you can address specific concerns related to stepchildren, provide for a surviving spouse, and clearly outline how assets should be divided. This can help avoid conflicts among family members and ensure that your wishes are carried out in a way that considers the intricacies of your blended family dynamics. Estate planning tools such as a Last Will and Testament or a Revocable Trust can be tailored to accommodate the specific needs and relationships within your blended family, providing clarity and peace of mind for everyone involved.
Types of Estate Planning Documents
Florida estate planning involves several key documents designed to address various aspects of an individual’s affairs. A Last Will and Testament is a fundamental document outlining how assets should be distributed upon death and appointing personal representative to oversee this process. A Revocable Living Trust is another essential tool that allows for the management and distribution of assets during one’s lifetime and after death, offering potential probate avoidance. Advance directives, such as a Durable Power of Attorney and a Health Care Surrogate, designate individuals to make financial and healthcare decisions if the individual becomes incapacitated or simply does not desire to act. A Living Will expresses end-of-life medical preferences regarding prolonged life support. Florida residents may also consider a Designation of Preneed Guardian to designate a guardian for themselves in case of future incapacity. Additionally, a Lady Bird Deed may be used to help transfer your homestead. Properly crafting these documents, often with the assistance of a specialized attorney, is crucial to developing a comprehensive estate plan that aligns with individual wishes and Florida’s legal requirements.
Our Estate Planning Process
1.
Initial
Consultation
Schedule free initial consultation by calling our office or by using the button above.
Meet via online meeting, phone call or in person to discuss your legal need and to prepare a legal strategy with attorney.
2.
Gather
Information
We only need address and phone number to the individuals who will make health care/financial decisions for you during your lifetime.
We do not need bank account numbers or social security numbers to beneficiaries.
3.
Review
Documents
Your documents are sent to you for review of accuracy.
A meeting is scheduled with attorney to discuss every document in detail and answer any questions you may have.
4.
Sign
Documents
Signing meeting takes place at our office where documents will be signed and notarized under proper formality.
5.
Questions
Please call with any follow up questions you may have with Trust funding, future estate planning amendments, or any big life changes.
(727) 487-9455