FAQ

A will directs who is to receive your property at your death. During your life, you can make changes to your will, or even cancel the will altogether. A will, however, does not avoid probate. Additionally, a will does not control the distribution of assets that are held jointly with a spouse,  or jointly with another person with a right of survivorship, or assets that have a named beneficiary.

A revocable trust is a document that creates a separate entity to hold or manage assets and directs the management of those assets during your life and after your death. A revocable trust can be changed or canceled by the person who created the trust. A revocable trust avoids probate.

A power of attorney is a crucial estate planning document, as it allows you to appoint someone to make financial and legal decisions on your behalf. Granting this authority is important preparation in the event you are not able to make your own financial and legal decisions. In Florida, a power of attorney becomes effective as soon as the document is signed. Without a power of attorney, the only way another person can make legal or financial decisions for you if you become incapacitated is by being appointed guardian by the Court.

Like the power of attorney, the designation of health care surrogate is an important estate planning document that allows you to appoint a person to make medical and health care decisions on your behalf when you cannot make those decisions for yourself. Similarly, without a designation of health care surrogate the only way another person can make medical and healthcare decisions is by being appointed guardian by the Court.

A living will allows you to make decisions about end-of-life and life-prolonging medical treatment. This document allows you to decline treatment if you have a terminal illness, are in a persistent vegetative state, or in an end-stage condition, and such treatment would only serve to prolong the process of dying.

A Lady Bird Deed (a/k/a Enhanced Life Estate Deed), allows you to transfer a property directly to a beneficiary at your death, without having to go through probate. With this type of deed, you retain full rights to manage and dispose of the property during your life, as the beneficiary’s interest in the property only commences upon your death.

Probate is the court process of gathering the assets of a deceased person, paying the decedent’s debts, and transferring assets from the decedent’s name to the beneficiaries. In Florida, there are different types of probate administration. Which type of probate administration is appropriate for a specific matter will primarily depend on the value of the decedent’s estate.