WHY DO YOU NEED ESTATE PLANNING?
I received a call where an aging mother passed away, leaving her five adult children and live in boyfriend to fight amongst themselves. There are many problems in this specific case. The first is her will stated the boyfriend can live in the house for life, but the boyfriend does not have the money to continue to live in the house so the children are now covering the costs to maintain their future real estate. Second, the children are all fighting about how to proceed and handle these bills. Thirdly, the children had to pay for the funeral which could have been avoided with prepaid burial or cremation. All of these problems could have been prevented with proper estate planning.
WHAT CAN ESTATE PLANNING DO FOR YOU AND YOUR LOVED ONES?
Estate planning is a choice. By doing estate planning in Miami Beach, Florida, you save your loved ones from having to make many difficult decisions that you could have made while alive and competent. You can also save money and time spent tied up in the Miami- Dade probate court process by doing a revocable trust now, preventing the need for both guardianship (if ever you become incapacitated) and probate court proceedings later to file either a will or paperwork related to intestacy, which means no will. Also, the specifics of your private wishes can be detailed in a trust created by an estate planning attorney and handled privately upon your death or incapacity.
WHAT IF MOM HAD DONE ESTATE PLANNING IN MIAMI BEACH, FLORIDA?
If the mother in the scenario above had done estate planning with me and created a revocable trust, the house would have been owned by the trust and there would be a bank account owned by the trust whereby household bills and expenses are paid even after death. Furthermore, the boyfriend’s living arrangement would be very detailed and then go to the kids upon him either moving out, moving into a nursing home (he’s over 90), or passing away. Thus, a revocable trust keeps the assets maintained and structured to avoid confusion and fighting. A will is not enough in most cases; a revocable trust and a will help to better protect both the individual and the loved ones. A revocable trust is private and a will or no will must be handled in the Miami-Dade or Broward probate court system, which causes more delays in the transfer of property as everything in probate court must be approved by a Judge.
IS ESTATE PLANNING JUST A WILL AND REVOCABLE TRUST?
No, estate planning also includes health care documents that can be used by your loved ones if you are not capable of making these decisions for yourself. These health care documents detail who is in charge of making these decisions and your wishes regarding your care in different scenarios. Aside from the two health care documents, a limited or general power of attorney is recommended for financial matters that may arise.
WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH, TRUST ADMINISTRATION, AND MIAMI-DADE AND BROWARD PROBATE MATTERS?
As a Miami Beach, Florida, Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney with over twenty years of experience and both a Psychology and Law degree, I handle these matters with care and sensitivity. I am familiar and comfortable with both the Miami-Dade and Broward County probate court system and know how to get things done. My experience on both the probate and estate planning side enhances my knowledge and allows me to assist my clients more thoroughly. Call or email me today to discuss your Miami Beach Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.