Last Will and Testament
A Last Will and Testament is a written document detailing how you would like your estate distributed to your heirs. Very often young families do not think they need a will, however this can be the most important document for a family to have and keep updated. While many believe that a will is only necessary if you have large estates, the will provides a very important function for families with young children-- it can establish Guardianship of minor children and provide a detailed and thoughtful plan for their care, education and support. This is essential for any family. If you die without a will then the state decides pursuant to Florida Statute 732 how your assets will be divided among the heirs specified by statute. Even more alarming, the state court system will also decide who will be the Guardians of your children if you fail to do so yourself.
Living Will
A Living Will is also known as an "Advanced Medical Directive" because it dictates your medical wishes in advance should you require life support or become incapacitated. This document helps avoid additional anguish and stress on your family by taking the burden of making these agonizing decisions off their shoulders.
Designation of a Health Care Surrogate
Health Care Surrogate is a written document that works hand in hand with your living will. This designation allows the person of your choice to have access to your medical records and communicate with your doctors to make medical decisions on your behalf. Without this document, Florida Statute decides who makes these all important decisions.
General Power of Attorney
Powers of Attorney (POA) is a written document in which you appoint a trusted person (called an attorney-in-fact) to manage your finances in the event that you are unable to do so. Although POAs are most utilized by people when they are unable to manage their finances due to illness, POAs are also used by military service members to empower a trusted person to manage their affairs while they fight for this country. You can decide to make your appointment effective immediately or upon the happening of a specific event such as becoming incapacitated. Either way the appointment of a POA should not be be taken lightly as this document gives the person you select control over your finances.
Trust Agreements
Living Trusts, Testamentary Trusts, Spousal A-B Trusts are just a few of the many Trust Agreements available to someone planning their estate. These agreements may or may not be appropriate for your particular estate planning needs and you should obtain the advice of an Attorney when establishing a Trust. Trusts can be very useful and may help to minimize the impact of estate tax; however, there are many factors to be considered. We can help determine whether a Trust is appropriate for you.
Your Testamentary Plan
A complete Testamentary plan may include all of these documents with additional Trust Agreements as needed depending on your financial situation and family status. While there are many do-it-yourself sites and books available, planning your estate is not an easy task. An attorney who specializes in Estate Planning can help you determine which is the correct plan for your family. We offer a complete package for both spouses including a Last Will and Testament, a Living Will, a Health Care Surrogate, and a POA, and charge fees families can afford. Contact Jennifer today to schedule an appointment and get started customizing your plan immediately.
Jennifer Cathcart, P.A.
Attorney at Law
27251 State Road 54 Suite B-14, Welsey Chapel Florida 33544
(813) 857-6109
FAX (813) 364-1748
Jennifer@CathcartLegal.com
