Estate planning is a term loosely used to describe an range of legal services and documents that are critical for safeguarding you, your loved ones and your assets ("your stuff") in the event of a health and/or financial crisis.
and that...
Estate planning documents tend to run together in packs and, in Florida, usually include a combination of:
1. a last will
2. a durable power of attorney
3. advance healthcare directives
4. a living trust
5. guardianship declarations
and...
With the right combination of fact finding, skill and preparation, these documents they can safe guard you, your loved ones, and your business or investments.
So, we understand that.
So, the thing for you to be absolutely clear about is that depending upon the plan and documents that you choose, the level of protection will vary.
I point this out because the Florida wills plus package does NOT include a Florida living trust and I want to make sure you've considered the following and are confident that you don't need a living trust for your estate.
The benefits of a Florida living trust are generally the following:
1. The ability to avoid Florida probate of assets by titling all of the estate assets in the living trust; and
2. Flexibility for disability and pre-Medicaid planning given the amount of the discretion that your successor trustee; and
3. Options for special needs planning for the trust beneficiaries (i.e. this can be ideal for parents of adult children who are on need based (SSI) disability assistance and would otherwise be disqualified.
4. Options for providing protection for children of previous marriages in blended families.
A general rule of thumb is that if the above mentioned circumstances are present OR if you have some real property and other assets of more than a very small amount, a living trust will benefit you.
Ultimately, whether you select a trust package or will package is your decision and we will support you in preparing a high quality package, regardless of your choice.
Also, remember when I mentioned the following:
That there are circumstances that the Virtual Florida Estate Planning 5 Step Program may need to customized after some conversations such as:
1, multiple marriages with blended families
2. families with special needs situations
3. aging adult medical care concerns
4. high net worth "taxable" estates
5. non "U.S. Citizen" planning
The good news is that even if the above concerns are present, you can still move forward with confidence in selecting the package that makes the most sense to you.
The reason being, regardless of the package you select, after you complete work on the Factfinding Step of your 5 Step Process, we'll have our video conference during the Collaboration Step, during which we will discuss your estate concerns in detail and may make final recommendations accordingly. If this requires an upgrade or additional services, we will simply update your Package and proceeds accordingly.
So our shared goal is to prepare an amazing Florida estate plan that is the right one and there is absolutely no risk to getting started.
If you do have some questions prior to moving forward you can e-mail our legal team directly at info@gibbslawfl.com.