Estate Planning in Florida

Helping Clients Plan and Protect Without the Hassle

Because none of us can predict when we will die or become ill, many people look to estate planning to prepare for the unexpected. If you don’t have an estate plan, Florida state laws and courts will decide who gets your assets when you pass and who can make health care or financial decisions while you’re alive, should you become disabled or incapacitated. Decisions based on Florida state laws may or may not align with decisions you would have made for yourself.

Mombrun Law, PLLC, listens to your current and future concerns. There is a solution for every situation, from working families with minor children and caregivers of aging parents to seniors who want to age at home and avoid long-term care in nursing homes.

We take you through a personalized process to discover how you want to pass money, property, and other valued belongings to loved ones upon your death. You’ll also need to make decisions about preferred emergency medical treatments and end-of-life care. Then primary estate planning documents, including wills, trusts, advance directives, and powers of attorney, are used to achieve those goals. Once they are in place, you and your family can relax, knowing you are prepared for situations that could otherwise cause a financial and emotional crisis.

Five Documents You Should Include in Your Florida Estate Plan:

Will

A will defines the executor, or manager, of your estate who pays debts and distributes property as you have specified. The administration of assets in the will can be as broad or detailed as you like and address beneficiaries, guardians for minor children, and pets. You can also include funeral and burial wishes to avoid conflicts.

Trust

Setting up a trust also distributes assets and property. But a trust doesn’t have to go through probate if it’s well designed and routinely updated. Property is distributed at death privately, without public court interference. At Mombrun Law, PLLC, we recommend creating a trust-based estate plan.

Types of Trusts

A revocable living trust — this common trust is created and funded by the owner, who typically acts as the directing trustee during their lifetime. They may undo the trust, change its terms, and move property and assets in and out of the trust’s ownership at any time. Revocable living trusts are meant to switch to an irrevocable trust upon death.

An irrevocable trust — this trust isn’t easily changed. The trust owner funds the trust with property and assets that are then controlled by a named trustee. The trust can’t be undone, but it does have unique tax advantages and other benefits, including protecting a person’s home and savings from the high costs of long-term care.

Advance Directives

A living will outlines your wishes for end-of-life medical care. It can include instructions regarding medical treatments in specific situations so family members don’t have to stress over making difficult decisions during emotional times.

A health care power of attorney lets you choose someone you know and trust to make medical decisions for you when you are not able. It remains in effect until you recover. This person is guided by your living will and relays your wishes to your health care professionals and family.

Financial Power of Attorney

A financial power of attorney, also called a general durable power of attorney,  designates a person to manage your financial matters when you are unable to handle your affairs. A durable financial power of attorney stays in effect even if you become incapacitated. You can control and limit their authority any way you like. A financial power of attorney removes the need and expense to appoint a guardian should one become necessary.

Special Needs Planning

Special needs planning provides legal protection for any person or family member with a disability. Disabilities can be diagnosed at birth, occur in adulthood, or be caused by illness or injury. The earlier you start your special needs planning, the better, especially if you’re concerned about preserving significant government benefits such as Supplemental Security Income (SSI) or Medicaid that your loved one relies on.

The legal strategies you should consider with special needs planning include:

• Establishing a special needs or supplemental needs trust
• Appointing guardianship
• Creating a letter of intent

At Mombrun Law, PLLC, we can discuss your goals and expectations and help you decide which trust is right for you, prepare advance directives that outline your wishes to your family and medical professionals, and determine which power of attorney is best for your situation.

How we can help

The inevitable will happen one day, and you probably don’t want your loved ones to face the complicated probate system. With the help of Mombrun Law, PLLC, you can protect your loved one’s financial future, minimize taxes on your estate, and create a lasting legacy.

Mombrun Law, PLLC can provide comprehensive legal advice for families in Tampa and St. Petersburg, Florida, and the counties of Pinellas, Sarasota, Manatee, Hillsboro, and Pasco. Our firm focuses on estate planning, elder law, bankruptcy, and business. We know legal issues can be complicated, but we can explain them and help you make the best decisions for your unique situation.

Contact us today!

Reach out to Mombrun Law, PLLC, to schedule a free consultation. We look forward to hearing from you. Please feel free to call 321-216-2040 or use the form below.