Estate planning can be a daunting task, one that demands a lot of time and effort and even money. When you hire RAK Law Firm to help with your estate planning in Florida, you can rest assured that we will handle your situation in a timely and professional manner. Whether you need help establishing a will or trust, or help with general estate planning, we’re here to help.
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Estate planning refers to the legal process in which an individual creates a legal record of how they want their various assets to be handled following their death, as well as creating a plan for how medical decisions and care of minor children should be handled in the event that they pass away unexpectedly or become incapacitated.
There are several different types of estate planning documents and processes that fall under the larger estate planning umbrella. The most common include:
- Creating a will (this could also include a living will)
- Appointment of a durable power of attorney
- Designating a health care surrogate
- Creating a living trust
- Designating your beneficiaries
- Appointment of a guardian for your minor children
- Creating a letter of intent or a letter of instruction
- Compiling a list of important financial documents
- Provision of access to digital assets (i.e. online accounts)
Sometimes the words “will” and “estate plan” are used interchangeably. However, there is a slight difference between the two processes. In general, a will serves as the foundation of an estate plan. It specifically lays out where your assets should go, who your beneficiaries are, and who your executor is (the person in charge of carrying out the orders in the will). On the other hand, an estate plan can include these things but also includes details about how you want to be cared for in the event that you become very ill or incapacitated, as well as who you want to care for your spouse or minor children who are left behind in the event of your untimely death. You can read more about the differences between estate plans and written wills here.
There’s a tendency to think that it’s necessary for you to have a large sum of money or property in order for estate planning to be required. However, this isn’t true. Almost everyone has an estate, even if that just includes your car, your home and your bank account. The main purpose of estate planning is to ensure that:
- Your assets are properly handled, according to your desires, following your death
- There is no fighting or disputing over how your assets should be handled
- Your minor children or other dependents are cared for in the event that you die sooner than expected
- Your healthcare needs are met in the event of end-of-life illness
- Legal fees and probate costs are minimized for your beneficiaries following your death
There are many benefits of establishing an estate plan. If you’re ready to take steps to ensure your assets will be well handled after your death, contact our team of Florida estate attorneys at RAK Law Firm today.
If you’re asking yourself “when should I prepare an estate plan,” odds are that now is the time! As soon as you have assets that you want to protect, it’s a good idea to have a plan in place. Too many people wait until they’re retired to prepare an estate plan, which means that if they were to pass away suddenly their family would be left without guidance on how those assets should be distributed. Don’t wait! Our team can help you with going through the estate planning checklist and start planning your estate today.
Planning your estate often feels like a chore. It often feels like you’re lost, and don’t know what to do first. At RAK Law Firm, our premier Florida estate attorneys have significant litigation experience and know what it takes to defend your rights. RAK's estate planning lawyers in Florida will NOT sit on your file. They will litigate your file.
Why Choose RAK Law Firm?
Our Experienced Attorneys are trusted Civil Litigators
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Wide Range of Practice Areas
Representing Clients Statewide
Prepared To Go to trial
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