Every Adult Should Have An Estate Plan. Do You?
While every adult should have some form of an estate plan, many do not realize the importance of the various documents that comprise an estate plan. Without a health care directive, for example, you risk your physician not following your wishes for end-of-life medical treatment if you become incapacitated and cannot speak for yourself. If you are unable to communicate and you have not executed a power of attorney designating an individual to manage your personal business, your family may have to seek the court’s assistance to handle your financial affairs while you are alive. Dying without a will or trust could result in unintended heirs receiving your assets and frustrating family conflict.
Attorney Eric S. Kane can help you avoid frustration and help you to organize and navigate your affairs. He will help you understand the important process of estate planning and guide you through the sometimes daunting process of selecting an executor (in Florida referred to as a personal representative) or successor trustee you can count on to honor your final wishes.
Assessing Your Family’s Future Needs And Thorough Estate Planning
A will or trust is integral to estate planning. The internet provides a constellation of forms for Florida wills and trusts, but the problem of completing these legal instruments without the assistance of an attorney is that your internet form may be missing vital legal language that assures your will or trust is enforceable and stands the test of time. Only with the guidance of an experienced lawyer will you have the peace of mind that your estate plan will provide for the unique needs of your family or charitable organization as you intend.
A basic estate plan may include the use of the following documents:
- Revocable living trust and pour-over will or
- Durable general power of attorney
- Designation of health care surrogate with HIPAA provisions
- Living will
- Pre-need guardianship designation (if necessary)
- Assignment of Personal Property
If you have minor children or children with special needs, estate planning is essential to determine who will provide care for your loved ones if something happens to you.
For large estates, Mr. Kane will provide the information you need to make informed decisions for maximizing asset protection, tax benefits, gifts, and generation-skipping tax planning. Sophisticated estate planning may include creating legal instruments such as an irrevocable life insurance trust (ILIT) or qualified personal residence trust (QPRT), among others. There are many considerations that need to be addressed before creating these types of trusts.
Mr. Kane frequently represents clients with complex estate planning needs and has experience representing professionals such as attorneys, accountants, financial planners, physicians, dentists, and business owners who may require specialized planning pertaining to wealth protection.
Mr. Kane also frequently represents Florida residents who have recently moved from other states. The laws of each state are different, and Mr. Kane assists these new residents with updating their estate planning documents to comply with the laws of Florida.
Call Now For A Consultation
Call Eric S. Kane, P.L., in Aventura at 305-937-7280 for a consultation to learn more about tailoring your estate plan to meet your objectives.