It’s a morbid thing to think about, but estate planning for our eventual deaths is unfortunately a necessary evil. When someone you love has experienced a traumatic injury or illness that’s left them disabled or with a debilitating medical condition, having your estate and affairs in order is something you need to consider. Preparing for the unexpected such as an abrupt medical change is paramount and could make all the difference for your family and loved ones.
If you have blood relatives who’ve suffered from medical conditions that left them incapacitated, that’s even more of a reason to be proactive in planning your estate. Not only does it allow you to be prepared, but it also helps your family understand your wishes after you’ve passed away. Once you’ve become so ill that you cannot understand your assets, who your family members are, or sign legal documents, it’s time to consider estate planning.
Gary I. Handin, is an estate planning attorney in Coral Springs with decades of experience helping people make important decisions regarding their estate. If you need help drafting a legal incapacity estate plan, you’ve come to the right place.
What is Incapacity Planning?
Incapacity planning allows you to plan for a loved one to manage your affairs when you’re unable to due to a mental or physical disorder. It’s important to understand that without this estate plan, your property and money will be distributed upon your death in accordance with State of Florida intestacy rules, which may not be the way that you would want your assets to be distributed.
What Documents Are Needed in an Estate Plan?
Did you know that there are several legal documents that our estate planning lawyer can help you draft to secure your property if you’re diagnosed with a medical condition or get into a accident that’s left you physically or mentally crippled?
These legal estate planning documents include:
Medical Power of Attorney
A medical power of attorney, which may be contained in a durable power of attorney, designates an individual to make medical, as well as financial decisions for you when you can’t do so any longer. The person you choose becomes your surrogate and will make important medical and healthcare decisions in your favor, whether on a temporary basis or for a long-term health and medical emergency.
Revocable Living Trust
In estate planning, a revocable living trust puts all of your money and valuables into a legal trust. This means that nothing is left in your own name, individually, but a rei n your name as Trustee, which means that you still have control of your assets. You can name a Successor trustee or Co Trusteewho can manage these assets and pay creditors when it’s needed, if you are unable to do so. If you suddenly become ill or pass away, the co-trustee or successor trustee is then responsible for controlling the trust.
A Legal Will
If you don’t have a living trust, then you need a legal will that explains your wishes when you pass away. A personal representative is chosen by you to act as your legal representative and is responsible for administering the estate as defined in the legal document drafted by Gary I. Handin, P.A.
Note that in the State of Florida, they must be a resident of Florida. If they aren’t, they must be a blood relative. After you pass away, the will must be authenticated before it goes to probate court.
A will can include information on who you would like to be the guardians of your children, how your assets will be distributed, and other important details about their estate.
Why Creating an Estate Plan is Important
If you or someone you love has a disease that alters decision-making, it’s vital that you make important decisions about your future before your illness progresses. The sooner that you create these important estate planning documents, the greater the chance you can express your wishes fully. This ensures that your estate plan is worded exactly how you want it to be, and all your wishes are granted. Our experienced estate planning attorney team at Handin Law can help you make these important decisions for your future.
Learn More About Estate Planning with a Legal Consultation
When you’re interested in learning more about estate planning, our Coral Springs law office can help you. Our experienced estate planning lawyers help our clients determine what documents they need to be best prepared for their futures.
We serve all of Miami-Dade, Broward, and Palm Beach counties. If you’re looking for a Coral Springs estate planning attorney, call Handin Law at 954-796-9600 today to learn more about the legal solutions that we can offer you and your family throughout your lives.