Estate planning is a crucial part of life that many overlook. It's important to define who gets your assets when you die, who will take care of minor children, and what happens if the person named in your will becomes incapable of managing them. Estate Planning can be complex and it's difficult to know where to start—but it doesn't have to be!

If you die without planning ahead, your loved ones are left with the burden of figuring out how to untangle your affairs and distribute any assets or debts that remain after expenses. Estate Planning is a process that can take many forms; from drafting a will, establishing trusts and other legal entities, naming beneficiaries and executors for these trusts, executing powers of attorney so someone else can manage your financial affairs if you're unable to do so yourself - even choosing an appropriate funeral service provider.

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A proactive approach to estate planning can help safeguard assets from taxation and effectively transfer wealth to intended beneficiaries.

Unfortunately, recent political developments and retirement trends are expected to render estates vulnerable to higher taxation, raising concerns among individuals and estate planners.

In response, Florida estate planning attorneys share insights about the important new role of life insurance in estate planning.
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Florida law controls how a person can revoke a power of attorney. It is essential to follow the rules and take additional practical steps to protect your rights when revoking a power of attorney. A Florida estate planning attorney can advise you on the specific things that you need to do in your situation.

How to Revoke a Power of Attorney in Florida

Let’s say that you signed a power of attorney, but you later change your mind and no longer want the document to give the person that legal authority. Section 709.
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Every year during the Open Enrollment period, you have the opportunity to make changes to your Medicare plan. If you have a qualifying event, like a loss of your current coverage or got married, you might be able to make changes to your Medicare plan even if it is not during the open enrollment time.

It can cost you plenty if you do not have the right Medicare coverage to meet your needs. Massive medical bills are a prime reason why many people file for bankruptcy. A Read more . . .

The death of a spouse can be emotionally overwhelming. In addition to the grief, the surviving spouse may be overwhelmed by the financial decisions and requirements of handling an estate. When a deceased spouse handled all the family finances, it can be difficult for a surviving spouse to take over this role. If a person did not have an estate plan, it could make the job much more complicated and stressful.

You can spare your spouse some of this worry and stress by creating an estate plan.
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Have you considered buying life insurance but simply haven’t made it a priority? It’s understandable. Shopping for life insurance, particularly when you’re young and healthy, doesn't seem all that important. But delaying coverage may not be the best idea.

Even among vibrant, active adults, tragedies can happen. Life insurance offers peace of mind to you and your loved ones of a financial safety net upon your passing.
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Special needs trusts allow a person to set up a trust for a person with physical or mental disabilities without endangering the disabled person’s eligibility for government assistance like Supplemental Security Income (SSI) or Medicaid, but only if the trustee follows the strict rules set up for these trusts. Even if the special needs trust was flawless in its creation, the trustee could cause the beneficiary to lose government benefits by making prohibited distributions of income or assets from the trust.

A trustee needs to know how funds can be spent with a special needs trust in Florida without inadvertently costing the disabled person much-needed benefits. It would be best to work with a Read more . . .

A real estate agent and title officer may be all you need to walk through the process of selling your Florida home. However, real estate transactions are cumbersome to navigate. Pages of reports, disclosures, and contracts can unsettle the best of us, often making it a wise choice to engage legal counsel when selling your home.

So, how do you know who to hire? And, do you find yourself questioning, “Should I hire a real estate attorney to sell my Florida home?” Let’s examine circumstances that support hiring Read more . . .

Parents of children with special needs have many extra responsibilities, whether the child is a minor or an adult. All parents are mortal, but when you have a child with special needs, you think about the fact that one day you will not be here to take care of your child.

A Florida special needs estate planning attorney can walk you through your options and evaluate the special considerations for parents of special needs children.
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Revocable living trusts have become a popular estate planning tool among Floridians. What are they and do you need one?

Revocable living trusts are not standardized estate planning options that suit every person’s needs. Rather, they are complex documents individualized to address a person’s specific estate planning goals, assets, and tax liabilities. As experienced Read more . . .

Assuming guardianship over another person and their affairs is a big undertaking. Before acting to become someone’s guardian, it’s wise to educate yourself about the responsibilities and legal obligations of guardianship in your state.

If you are a Floridian seeking guardianship of a minor child or incapacitated adult, there are things you may not know about guardianship in Florida. Engaging a Read more . . .