What is an estate plan?
Just about everyone has an “estate” whether they realize it or not. To name a few examples, your estate includes your car, home, bank accounts, life insurance, and investments—and no matter how large or how modest—it is all part of your estate. An estate plan is a written, legally binding plan that addresses who gets your property when you pass away. But estate planning goes beyond what happens to your possessions when you pass away: it also involves steps to prepare for incapacity and illness. Estate planning is ultimately taking care of your loved ones by taking care of yourself.
Why should I have an estate plan?
If you do not have a plan, Florida law has one for you. And it may not match your wishes. A plan that avoids probate will save your family money, minimizing stress on your loved ones, preventing family disputes after your death, and ensuring your property is distributed in accordance with your wishes. Additionally, the durable power of attorney, designation of health care surrogate, and living will are important so that you have control over who is making your financial and medical decisions if you are not able to make them for yourself. Otherwise, the Court will decide in a potentially expensive and unpleasant guardianship action.
Cuturic Law offers a range of services related to wills and estate planning. To know more, contact us today at 941-441-9193 and get started.