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Estate Planning
Estate Planning Attorney
Protect your assets, estate, and legacy with Estate Planning services
from The Law Office of Charles R. Hayes, P.A.. From preparing wills and trusts to handling property settlements, he has the knowledge needed to handle all aspects of estate planning and will walk you through the complicated process.
Estate Planning is more than just wills and trusts. It is the preparation of a plan to carry out an individual's wishes as to the administration and disposition of his/her property before or after his/her death. It is a common misconception that estate planning is only for the wealthy, but here a few reasons why you may need to consider discussing a plan.
Reasons for Estate Planning
- If you have minor children. Who will care for your children if you die? If you have a plan you are able to nominate a guardian, without one the decision could be left up to a Court.
- If you have assets. Who will inherit your assets? Without a will or plan your assets will pass in accordance with State Law. Taking the time to set up a Will or Trust will allow you to determine the distribution of your assets and the manner in which they are received.
- If you are worried about the financial security of your family if something happens to you. Having a plan can help provide for income replacement through life insurance as well as retirement accounts to help your family maintain their standard of living.
- If you have a blended family, what happens to children and spouses from different marriages? Without a plan your children may not be treated in accordance with your wishes. A plan can help you provide for all of your children as you see fit.
- If you own a business. What will happen to your business if you die? If you are a business owner it is crucial that you have a plan in place to name a successor and provide direction in the event of your passing.
- If you lose the ability to speak for yourself. What happens if you become incapacitated and are unable to manage your affairs? A plan can help designate who can act on your behalf. Absent a plan you may be faced with having the Court appoint a stranger to manage your personal matters.
- If you have retirement accounts. Who is entitled to the proceeds? A plan can help designate beneficiaries and can help avoid unnecessary and unforeseen tax consequences.
- What about estate taxes? A plan may help you reduce or eliminate estate taxes.
Areas We Cover
- Trust: A trust whereby provisions can be altered or canceled dependent on the grantor trust. The trust helps you: avoid probate, minimize taxes, plan in the event of a disability, and keeps your affairs private and confidential.
- Wills: A Will is a legal document that describes your wishes for transferring of your assets upon your death. While a Will does not void significant probate costs it ensures a judge will oversee the distribution of your assets.
- Power of Attorney: This power allows your designated individual to take care of the daily responsibility of managing your financial affairs either while you are capable or in the event of a disability (as you define it).
- Health Care Directive: An HCD combines four health care documents into one document: 1) your nomination of health care agent, 2) your nomination of a conservator, 3) your wishes with regard to the continuation of medical treatment in the event you are in a persistent vegetative state with no likelihood of recovery, and 4) your wishes regarding organ donation.
- Probate: Probate is the legal process an estate goes through to ensure the proper distribution of an estate. If there is no will or trust associated with the estate, the estate will go through a distribution process in accordance with the laws of Florida.