One of the biggest and most difficult questions you may have as you begin your career and family, and obtaining assets is when you should start thinking about the situations that could occur in the case that something happens to you. It’s always recommended to establish a will no matter the circumstances. Here are some major life experiences that should urge you to start organizing and planning your estate for life after your death.

Close Calls

When something major happens that may threaten your life, it will likely force you to think about what will occur if you pass away. This can include things like major injury, disease, or an accident or near-accident. The realization of morality is scary but important to motivate you to begin estate planning since tragedy does not wait for a time that is convenient.

In addition to personal close calls with death or disease, it is possible someone you named in your will may pass away or otherwise become incapacitated. If this happens, you will need to revisit your estate planning documents and make changes accordingly.

Marriage

Marriage indicates a fundamental change to how you will think about your future. You are now the part of a two-person package, and many decisions you make are reflective of joint wishes.

Your new marriage will likely impact your beneficiaries, but also guardianship in the case that you have children and pass away before your spouse does. If you have recently married for the first time (or have divorced, or remarried), then you will want to revisit your previously outlined terms.

Children

The future protection of your kids is one of the most important concerns you will have. You want to ensure that your loved ones are provided for after your death by your accord, as opposed to allowing intestacy laws dictate where your assets will go, or letting the courts determine guardianship. Once you bring kids into the world, you will likely have them in mind as beneficiaries; if you have had children and have not yet established an estate plan with a Daytona Beach wills attorney, this is something you should look into with urgency. 

Asset Ownership

If you are thinking of buying a home or have recently bought a home for the first time, this is likely the most substantial asset you have and greatly changes your estate’s value. So, you will want to make sure to keep up-to-date on your estate planning to appropriately consider this asset in the case of your demise. Additionally, if you’ve come to your new Florida home from out of state, you will want to update your estate planning documents to account for its new laws regarding estate planning, since they vary from state-to-state.

Starting or owning a business will also alter your estate plans. As another substantial asset, the legacy of your business should be considered in your estate plan.

Beginning the Process

Why wait on planning your legacy? Legally, you can begin drafting your will at the age of 18; even at this age, you likely have some assets that are important enough to you to want legal provisions over. The best way to begin the process of drafting your will is by talking to an estate planning attorney in Daytona Beach, who will be familiar with the laws specific to Florida.

We’ve assisted Volusia County residents with a variety of legal needs for more than four decades. That includes estate planning, trusts and guardianships. Contact us today to learn more about starting your own will.

Many people see being named as an estate personal representative of an estate as a huge honor. Whatever your personal view, it’s important to realize that this distinction comes with express duties paramount to effectively carrying out the specific details of a friend or loved one’s estate plan.

In general terms, estate personal representative are responsible for distributing the assets of an individual who is deceased or has otherwise become mentally and/or physically incapacitated. This includes:

• payment of estate taxes and debts
• maintaining willed property
• establishing an inventory and communicating with the court
• distribution of assets
• and more

So, above any honor or privilege, being named as an estate personal representative is both an obligation and commitment to effectively carrying out the final wishes of an individual’s estate. Here, you’ll learn more about what you can expect from your role as estate personal representative.

Compile Documents and Meet with Key Players

The first step is to obtain a copy of the will. You’ll need to file this document with your local probate court. An inventory of assets will also need to be provided. It’s important that you understand the details of the will, including asset distribution and inheritance details. At this stage, it’s wise to meet with a skilled and qualified Daytona Beach probate lawyer who can help you determine your next steps.

You’ll also need to inform creditors of the new circumstances. In addition, government agencies (such as the Social Security Administration) must be notified about the individual’s death or incapacitation. It’s a good idea at this point to establish a separate bank account from which to pay bills. This account can also be used for incoming funds such as paychecks, rental income, and more.

Maintain Property

As an estate personal representative, you’re responsible for the maintenance and general upkeep of the primary residence (plus other owned properties) until such assets can be distributed to heirs or sold. This isn’t to suggest you’re required to personally perform these duties. Rather, you must ensure proper care and attention are being focused on the property or properties.

Similarly, personal belongings must be protected until future allocation. If the deceased had an on-site safe or safety deposit box, you may wish to store such items in these locations. Otherwise, you’ll need to find another appropriate area for their safekeeping.

Rather than become confused, frustrated, or overwhelmed, it’s wise to partner with a trusted and reputable estate planning attorney in Daytona Beach who can offer valuable advice and assistance in fulfilling your role as estate personal representative.

Distribute Assets

At this stage, you’ll follow the express wishes as detailed in the will to accurately distribute assets. If no will exists, intestacy laws of your state will apply. Before making any decisions, it’s best to contact a reliable attorney skilled at probate in Ormond Beach and the surrounding region.  

In the unlikely event that property exists following the payment of debts and their distribution of assets, you’ll be responsible for its proper disposal. This could occur under many different situations. Consult with the deceased’s attorney before making any decisions.

As estate personal representative you may be required to appear in court on behalf of the estate. This is no reflection on your ability to perform assigned duties, and certainly doesn’t mean you’re facing any sort of legal complication.

Enlist Expert Assistance

As mentioned, serving as an estate personal representative is not something to be taken lightly. There will be times, however, when you may feel burdened or under-qualified to accurately fulfill your duties. That’s when contacting a dependable attorney makes sense.

For more than 40 years, our law firm has assisted people across Central Florida with even the most complex legal action. That includes estate planning and guardianship. In addition, we’re known throughout the region as an outstanding real estate attorney in Daytona Beach. Contact us today with your questions about estate planning and other legal inquiries.

You’ve worked hard to get where you are in life. It’s only natural, then, that you’d want to protect your financial and other assets from being distributed in a way inconsistent with your final wishes. However, without effective estate planning, there’s a real risk that your loved ones could miss out on inheritance or otherwise be placed in an uncomfortable position.

While some people choose to overlook the importance of establishing a comprehensive estate plan, there are many reasons why doing so not only makes sense but provides valuable assurance that your explicit requirements will be carried out. Read on to discover the most popular and important reasons for estate planning.

1) End of Life Security

No one wants to think about dying. However, planning for the future is essential. When you create and implement a detailed estate plan, you can feel safe with the knowledge that your assets will be appropriately distributed upon your passing.

That includes appointing a guardian to care for minor children. The best and binding way to truly ensure the continued safety and security of youth is to make a guardianship provision in your will. Speak with an attorney expert at Volusia County guardianship to begin this important process.

2) Protecting Basic Rights

Should you or a loved one become incapacitated, financial and medical considerations will be observed based on your thorough estate plan. In addition, you can designate a trusted individual to make integral decisions on your behalf.

However, without a valid power of attorney, loved ones may be legally unable to intervene on your behalf, should you become physically and/or mentally incapacitated. For most people, avoiding conservatorship in this regard is a top priority.

3) Establishing Healthcare Directives

To that end, without documented estate planning specifications, decisions surrounding your medical care could be left up to a doctor. While well-meaning, physicians may not act according to your explicit wishes.

Detailing medical directives (similar to a living will) and establishing a health care power of attorney removes doctor-driven judgment. In addition, you can specify conditions by which life-sustaining procedures are stopped. This is especially valuable in the case of terminal illness, comas/vegetative states, and other scenarios.

4) Probate and Tax Avoidance  

Depending on the size of your estate, hefty taxes and fees could be applied. Any money paid out means less that your loved ones can be gifted. Comprehensive estate planning can help you avoid losing money.

In addition, the probate process can be lengthy and expensive. It’s not uncommon for the entire ordeal to span six months or more. Plus, a court-appointed executor may not have your best interests at heart. Avoid this scenario by contacting an attorney well-versed with probate in Daytona Beach.

5) Peace of Mind

People who willfully overlook estate planning put their assets and the security of loved ones at risk. Some folks find this perplexing, especially since the process is simple and straight-forward. It begins by partnering with a trusted and reputable estate planning attorney in Daytona Beach. This legal advocate can help you determine integral next steps that match your unique desires and requirements.

That includes protecting your financial and other assets from creditors, ex-communicated spouses and family members, and more. In addition, when your estate plan is clearly communicated, disagreements between loved ones surrounding interpretation of your final wishes are eliminated.

We’ve assisted countless Central Florida residents with a variety of legal needs for more than four decades. That includes estate planning and guardianship. We’ve also built a solid reputation as a premier Daytona Beach real estate attorney. Contact us today to learn more about starting your own estate plan.

 

 

Often, parents assume that if something were to happen to them, a spouse would naturally step in and raise the children on their own. However, that assumption doesn’t consider scenarios where both parents are incapacitated or suffer fatal injuries. In addition, without established guardianship criteria set in place, the child’s legal surviving parent will be granted custody. This is not always the biological parent.

Children expect and deserve stability. When their lives are shaken up at an early age, it can affect future decisions and/or actions. Keep kids safe and protected by implementing detailed guardianship provisions. Here’s how to get started:

Establishes Custody Rules

As mentioned, when an incident occurs that incapacitates or kills one parent, the surviving legal parent can establish custody. This doesn’t always take into account situations involving divorce, or your specific desires. Further, if the surviving legal parent can’t be found or has otherwise disappeared, court action to determine custody could be necessary. This puts children in limbo and negatively affects their mood and general outlook on life.

By contrast, when you leave explicit custody instructions in your will and other legal documents, you get the peace of mind that your children will be financially protected and physically cared for. Begin the process by speaking with a skilled and qualified Volusia County guardianship attorney, who can help you determine the best methods to safeguard your children.

Responsibly Distributes Assets

In most situations under Florida law, a minor child can’t possess more than $15,000 unless those funds are part of guardianship of the property. However, once the child reaches their 18^th birthday, they’re typically eligible to receive full inheritance.

Some parents have reservations about the potential for unsound or unsavory purchases by youth who receive an instant financial windfall. They’re concerned about the money management decisions of young people still in their teens.

Detailing your final wishes in a comprehensive will remains the best way to determine how and when assets are distributed. Trusts are also a possibility. It’s wise to know all options available to you before making any decision. Contact a reliable wills attorney in Daytona Beach who can help you establish important protection for minor children.

Protects Property and Finances  

Along with minor child guardianship, there are various other types. That includes guardianship over the estate, where a trusted individual is tasked with making important financial decisions. This often requires a court appointment.

Guardianship over the person and the estate allows the appointed guardian to make medical, financial, and personal decisions for minor children. This is often valuable in the case of children with special needs or specific care requirements.

There are also alternatives to guardianship. That includes adoption, power of attorney, special considerations for vulnerable or incapacitated children and adults, and more. Meet with a trusted and reputable Daytona Beach wills lawyer to discuss the best options for you and your unique situation.

Determines General Care

Along with the mentioned benefits of guardianship, this designation also addresses school enrollment, psychological support, vacation, and recreation planning, and provides for the continued general welfare of minor children.

For more than 40 years, our law firm has assisted people across Central Florida with a variety of legal needs. That includes estate planning, real estate law, and guardianship. In addition, we’ve built a solid reputation as a stellar resource for probate in Holly Hill. Contact us today with your questions, and to learn more about how we can help with your current legal matters.

 

No one likes to envision passing away and leaving behind family arguments. However, while most matters involving end-of-life documents are satisfied without complication, there are times when confusion and misinterpretation demand legal intervention.

In this article, you’ll learn how to safely satisfy the estate of a departed loved one. In addition, you’ll glean novel resources to help ensure a smooth and straight-forward process.

Asset Claims

Creating a last will and testament that’s clear and comprehensive is essential to ensuring your last wishes will be carried out precisely to your instructions. Any ambiguity could entice unscrupulous relatives to take advantage of loopholes and/or argue about the meaning behind your directives. Particularly in the case of those with extensive and valuable assets, friends and loved ones with ill intent could attempt to undermine your end-of-life plans.

Avoid this scenario by working with a skilled and knowledgeable Daytona Beach wills lawyer who can help you draft documents free from confusion or uncertainty.

Surviving Spouse

Florida (like most U.S. states) has a wrongful death statute. This empowers a surviving spouse to recover damages (including financial considerations) that benefit the “decedent’s survivors and estate.” 

While typically straight-forward, complications arise if and when a person is married after suffering injuries, but before death. Two Florida courts have recently explored this scenario and reached different conclusions. To avoid mix-ups and legal obstacles, partnering with a reputable and trusted estate planning attorney in Daytona Beach is paramount.

Late Marriage

Love can blossom anytime, anywhere. Today, it’s not uncommon for people well into their golden years to get re-married, or even married for the first time. These unions are usually mutually beneficial. There are times, however, when late-in-life marriages can cause estate planning consternation.

For example, heirs could create obstructions if they become upset with updated allowances. While you can’t account for or alter the individual feelings of family members, it’s wise to continually keep your will and trust documentation accurate and up-to-date. Doing so will prevent potential difficulties.

Invalid Will

When you don’t leave a will or fail to go through the correct legal process, accurately determining asset distribution becomes complicated. Family conflicts can easily arise. In some cases, the probate process can drag on for years.

When no compromise can be reached, mediation or arbitration might be used to resolve such disagreements. This is often viewed as a precursor to legal action. There are times, however, when involved parties refuse to reach a middle ground.

No one wants to envision in-fighting in the wake of their death. Prevent inheritance disputes and get the peace of mind that your last wishes will be effectively carried out by working with a reliable attorney well-versed with probate in Volusia County. Doing so can also avoid a situation where your assets fall into disreputable ownership or otherwise face destruction.

Other Considerations

Attempting to account for every possible scenario is cumbersome and unrealistic. Instead, it’s best to draft and compile clear and comprehensive end-of-life documents that protect your loved ones after your passing. The process begins by partnering with a reputable wills attorney in Daytona Beach, who can help you create legally-binding information and instructions.

Along with estate planning, our firm also specializes in real estate, guardianship, and more. Our friendly and knowledgeable attorneys are always glad to answer any questions you may have. Contact us today to learn more about your legal options.

 

 

The Atlantic hurricane season began on June 1 of this year and lasts through November 30, 2018. Meteorologists expect another active season. As you recall, last year’s heightened storm activity devastated many regions across Florida — leaving death and extensive damage in its wake.

Still, severe weather isn’t the only threat to the safety and security of your property and loved ones. House fires, deaths in the family, and other unexpected events all have the potential to alter future plans.

Rather than take a dour view of what’s to come, it’s important to ensure your estate plan is up to date before and after major life occurrences. Here’s how to get started:      

Create a Detailed Strategy

Particularly following catastrophic events, it’s easy to forget material possessions and other assets. That’s why it’s essential to make an exhaustive list of physical and non-material property.

Take the opportunity to decide how these items will be allocated upon your passing. In addition, consider who will serve as executor of your estate. For many people, making such decisions is confusing and overwhelming. That’s why it’s best to work with an estate planning attorney in Daytona Beach who can help guide you through the process.

Protect Critical Documents

Ideally, this should be done well before any incident occurs. At a minimum, your plan should include a will (or living trust), a designation for the allocation of assets, and other essential documentation.

Storage options include a home safe, bank safety deposit box, or other options. It’s wise to remember, however, that in the event of catastrophic fire or flood, home-based storage setups could be irreversibly lost or compromised.

While you will still need access to the original documents, it’s a good idea to share copies with your wills attorney in Daytona Beach. This ensures the potential for recovery following a disaster.

Perform Regular Updates

As time passes, many life events take place that will require review and revision of your estate plan. That includes birth/death in the family, marriage/divorce, retirement, changes in beneficiary designations, and more.

This also applies to the acquisition of new objects. If, for instance, you collect or otherwise come into possession of antiquities or other valuable items, be sure to document this as part of your estate plan. Failure to do so could result in item loss or hasty sale well below market value.

A reputable attorney well-versed with probate in Volusia County can help you avoid this and other unsavory scenarios.

Enlist Expert Assistance

No one wants to think about facing a disaster, and many of us are hesitant to face details of our own mortality. The reality is that proper consideration and planning for both events is essential to the financial protection of your loved ones. That’s why it’s important to connect with a Daytona Beach real estate attorney who can help you navigate a variety of legal situations.

For approximately four decades, our firm has assisted Central Florida residents with all their questions and concerns in a variety of legal matters. That includes estate planning, guardianship, real estate, and more. Contact us today to begin or update your comprehensive estate plan. 

 

 

 

For many people, estate planning is confusing, frustrating, and even overwhelming. Some of us face complicated approaches to appropriate asset distribution. Others shy from facing their own mortality, and what life for their loved ones might be like after their passing.

That could be why 52 percent of U.S. adults have not made a will or any sort of end-of-life planning, according to a 2017 report from BMO Wealth Management. Researchers also discovered only 28 percent of adult children were aware of parental last wishes.

Comprehensive estate planning is an avenue that shouldn’t be ignored. Thankfully, there are simple and straight-forward methods to approach this paramount task. Start by avoiding these common pitfalls:

1) Not Having a Plan

As mentioned, formulating a detailed estate plan is vital to guaranteeing a solid financial future for your loved ones. In addition, these plans ensure your final wishes will be carried out according to your specifications.

Some people believe end-of-life preparations are only for the very wealthy or those in a certain age bracket. In fact, estate planning can and should begin by age 30. In addition, regardless of savings or assets, everyone benefits from having a comprehensive plan.

The best way to get started is to contact an estate planning attorney in Daytona Beach who can help you navigate the process and make the best decisions for your unique desires and requirements.

2) Improper Handling of Paperwork

Especially as we get older, the years seem to pass faster. During that time, many life events occur. That includes:

• birth of grandchildren
• death of loved ones
• marriage or divorce
• new jobs and retirement
• change in living arrangements
• and more

Unfortunately, as time passes and life’s duties capture our time and attention, many people fail to examine essential documents (such as beneficiary data). Keeping this information updated and accurate is essential. In fact, your Daytona Beach wills lawyer recommends reviewing and revising these documents at least once every three years.

3) Hasty Compilation  

When drafting estate planning documents, it’s imperative that the language used is direct and easily understandable.

For example, say you have three children. You leave your estate to “my surviving offspring.” This vague statement creates many questions. Should one child pass away, will the remaining funds be distributed between the two surviving children, or will the deceased’s portion be distributed to care for grandchildren or dependents?

By contrast, a clear and comprehensive estate plan eliminates confusion and ensures your final wishes will be honored as they were intended. 

4) Making Unrealistic Demands

While a desire to provide for the financial security of loved ones upon your passing is natural, it’s important not to force stipulations that may be unrealistic or impossible to achieve.

For instance, consider the hypothetical situation that the sale of your home is contingent on family members living in their own homes close by. While family bonding and closeness may be the intention, should one family member choose to relocate, you could unwittingly jeopardize the financial future of all loved ones involved. Including very specific plans could also diminish the amount of allocated funds available for each beneficiary.

Avoid such scenarios by working with a skilled and qualified attorney well-versed with probate in Ormond Beach and the surrounding area.

5) Solo Attempts

In an era that’s seen growing popularity of do-it-yourself (DIY) projects, it’s understandable that some people would want to approach estate planning as an individual effort or challenge. Instead, it’s paramount that you work with a qualified and reputable estate planning attorney in Daytona Beach who can help you fashion detailed and legally-binding documentation.

For approximately 40 years, our firm has assisted Central Florida residents will many of their legal needs. From estate planning, to Volusia County guardianship, real estate law, and more, we have the experience and resources to guide you through even the most complex circumstances. Contact us today to learn more about how you can begin a comprehensive estate plan.

 

In times of loss and sorrow, thoughts and emotions are often elsewhere. Heartache makes it difficult to focus on the many financial and legal matters that must be addressed in the wake of a loved one’s passing. However, not making decisions (or making hasty and poorly-thought-out choices) can create trouble down the line.

As you plan for your immediate future and the long-term financial security of your family members, it’s important to take a comprehensive approach to details of your estate plan, including recent changes and updates. Here’s how to get started:

Make a Checklist

The first step in the process is to meet with a Daytona Beach wills lawyer, who can help you start delving into the details of the appropriate next steps in the process. While it’s important to take time for grieving, there are certain considerations (such as Social Security notification) that must be immediately addressed.

A skilled and qualified estate planning attorney can then assist you with the next steps in the process, including obtaining documentation such as multiple copies of the death certificate, letters of administration, and other important information.

Next, begin securing tangible property. Anything you can touch falls into this category, such as furniture, artwork, and even smaller items like dishes and silverware. While this step may sound mundane, it’s important to determine realistic values for each item, understanding that some material may require appraisals to reach an accurate valuation.

During this process, it’s also wise to create an inventory of other property relevant to your late spouse’s estate such as bank accounts, stocks/bonds, retirement accounts, safety deposit box contents (including jewelry), real estate, and more.

Notify Creditors and Satisfy Debts

Many people erroneously believe that all debts are forgiven upon death. However, if appropriate action and notification aren’t taken, creditors may seek to impose adverse action on surviving loved ones, including collections and in some cases litigation. Avoid this scenario by speaking with a wills attorney in Daytona Beach who can help you plan for repayment of debts and settlement of accounts.

As part of this process, it’s also wise to immediately open claims for insurance benefits. This involves gathering pertinent information regarding policies and accounts such as life insurance, health insurance, private retirement accounts, and more.

Contacting the deceased’s former employer (if applicable) is also important to determine whether benefits will still be available. In some cases, benefits are offered to both current and former employees. This is also the time to secure any employment-related financial benefits of the deceased such as 401(k) contributions, pensions, stock benefits, and other monetary perks.

Get Advice and Guidance

Administering a loved one’s estate is time and labor intensive. The process can sometimes become confusing and overwhelming. Particularly when you’re grieving, addressing the details of an estate may be the very last thing you want to do. Still, you shouldn’t overlook important considerations in this process. That’s why it’s wise to contact a skilled and qualified Daytona Beach estate planning attorney.

For nearly 40 years, we’ve helped countless Central Florida individuals and families with various estate planning needs. In addition to estate planning, our firm also specializes in guardianship and real estate law. Contact us today to learn more about how you secure a sound financial future for you and your loved ones during times of personal crisis.

 

Only four of every ten U.S. adults has a will, according to a 2017 survey conducted by Princeton Survey Research Associates International. The study found that just 36 percent of parents with children under the age of 18 have a will.

The primary reason given for not compiling this important document was simply not making the time to collect information. Survey respondents also surmised that they “don’t have enough assets.” 

In an environment of half-truths and outright misinformation, it’s important to get the facts about creating a detailed will, and why you need one in the first place. Here what you need to know about the process:

Will Basics

Prior to compiling documentation, you must name a personal representative. This could be a spouse, adult offspring, trusted friend, or relative. In some cases — particularly when the details of your estate are complicated — it’s wise to select an attorney to act as personal representative. When you work with a Daytona Beach will attorney, you have peace of mind that all the necessary documentation and processes have been covered.

Next, make a list of beneficiaries and decide how monies and property will be allocated. Some people choose to include a less formal letter of instruction along with a will.

Joint Wills Can Cause Complications

Most estate planners advise against joint wills. Some states won’t even recognize them. Since it’s unlikely that both spouses will die at the same time, individual wills are usually the wisest choice.

This option is particularly useful when each spouse must address unique issues such as ex-spouses, children from previous relationships, privately-held property, and other scenarios.

 

What Happens Without a Will

In legal circles, the term for a person who dies without leaving a valid will is ‘intestate.’ It means the estate will be settled depending on laws of the state where the person lived.

When you don’t leave a will, there’s a chance your loved ones will be denied assets. Rather than operating with your best interests at heart, this administrator will be legally bound by the state’s probate laws. We can help you fashion comprehensive and legally-binding documents that will protect your loved ones in the event of incapacitation or death.  

Assistance is Available

Many people opt to create wills and compile legal documents on their own. However, working with an experienced and knowledgeable will attorney ensures your detailed wishes will be honored. In addition, we provide valuable insight and assistance into the best estate-planning strategies, including living trusts and more.

While it’s possible that your will won’t ever require updating, the fact is that life events often require revisions. Marriages, divorces, new children or grandchildren, and deaths in the family all warrant an update. When you work with an attorney to draft your will, future updates are simple.

Offering nearly four decades of experience in estate planning, real estate law, and more, we have the knowledge and expertise to help create your will and organize your estate plans. Contact us today to get started.

 

 

Estate planning is no easy task. For many, just getting started can be overwhelming and emotionally-taxing. Yet a sound estate plan is essential to ensuring your or a loved one’s wishes are accurately carried out in the event of incapacitation or death.

Effective planning follows a step process. Once you’re aware of the steps — and with assistance from a qualified estate planning attorney — your plan will come together in no time. Here’s how to get started:

Prepare and Create Personal Documents

As you begin the process, it’s important to have all necessary information in one place. Printed (“hard copy”) documents are preferable over those stored on a USB device or by other digital means (cloud computing).

At the least, your estate plan should include the following:

• a will detailing your desires for distribution of physical and financial assets. Include an appointed personal representative. If you have children under the age of 18, you should name a guardian for them.
• a power of attorney, which is a trusted person authorized to make decisions on your behalf if you’re unable to do so.
• advanced directives, which details end-of-life preferences.
• health care surrogate, enabling the release and discussion of your medical information and treatment, and the power to make your medical decisions.
• up-to-date beneficiaries. Life circumstances often change. Marriage, divorce, untimely death of a loved one, new children and grandchildren, and other factors affect the status of your beneficiaries.

During this process, it’s also wise to ensure you have adequate life insurance, particularly if you have minor children (under the age of 18) or others who depend on you financially to survive. According to the American Insurance Association (AIA), it’s best to have life insurance that equals ten times your annual salary. 

Discuss and Detail Your Wishes

Make sure your family members and loved ones are aware of your intentions. Also inform a trusted individual where they can locate your important documents in the event of your incapacitation or death. In times of crisis, forcing loved ones to sift through minutiae to locate the information they seek is detrimental to efficiently carrying out your final wishes.  

The following information should be kept in one easily-accessible location:

• mortgage documents
• tax returns
• insurance policies
• investment information
• Social Security and health insurance cards
• contact information for doctors, accountants, and attorneys

You may also wish to set up a trust. There are many reasons why doing so is a good idea. Speak with your knowledgeable Daytona Beach estate planning attorney to determine if including a trust is the right option for you.

In addition, it’s wise to review designations (as well as the entire package of estate planning details) at least once every two years. However, life updates (marriage, divorce, birth of children or grandchildren, death of a loved one) should be made immediately.

Ask Questions and Get Assistance

Establishing a comprehensive estate plan doesn’t have to be a daunting or overwhelming task. While it’s possible to create and compile much of the material mentioned on your own, securing the services of a qualified Daytona Beach estate planning attorney will provide you with valuable assistance and peace of mind.

Offering nearly four decades of expertise in estate planning and real estate law, we provide legal service with honesty, integrity, and compassion. Contact us today to get started on your unique estate plan.