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October 2016 Archives

What is a health proxy?

Some Ft. Myers residents are familiar with the basic types of estate planning documents. They may know about the importance of a will and how a trust can also be an integral part of their estate plan. They may even know about the importance of a power of attorney (POA) and how that document can become critical if they become incapacitated. However, they may not know that another type of estate planning document, known as a health proxy, can also provide significant benefits. But what is a health proxy and what is its main purpose?

Estate planning with stepchildren: what to know

Estate planning is often a very helpful tool when it comes to making sure that any assets you have are distributed the right way after your death. However, a remarriage and stepchildren can complicate things and make estate planning more difficult. If you find yourself in that situation, though, it becomes more important than ever to make sure you have a solid plan for your estate so that all of your assets go where you want them to. That may or may not include the stepchildren, but if you die without an estate plan there are no guarantees that your assets will end up where you would have wanted them to go.

Typical functions of a will executor

An executor is an individual named in a testator's will who is charged with taking care of any legal and financial responsibilities that the deceased individual needs to settle. This can include paying any outstanding taxes for the testator's estate, settling any debts for the estate and selling off any property that is required. Because of the personal nature of this type of activity, an executor is usually either a close family relative or a close family friend of the testator.

Is it ever too late to create an estate plan?

Plan. Do you have an overall plan for your life? The dream job and how to achieve it. Your perfect home and family. Retirement, or work that dream job forever. Estate plans outline the end-game, your legacy, the gift of your life-long achievements. Who do you want to design your legacy, your life's work? If you have any future days, it's not too late.

What is a guardian and what are their duties?

Many Florida residents may know how they want their assets divided once they have passed away. They may have even developed a comprehensive will that explicitly spells out their final wishes. However, they may not know what can be done to care for a special family member once they are gone. Situations like this call for a guardianship to be set up. But what is a guardian and how can they help a special family member?

Creating a strong and robust will

With today's longer life spans, our lives get more and more complex, and having money and assets to leave behind to friends and family only adds to the confusion. Creating a will that spells out who gets what can help avoid unseemly family squabbles and can help assure that your wishes are attended to.

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