Orlando Estate Planning Attorney
Estate planning is a process of establishing a plan for the security and transfer of your assets in the event of your death or disability. Proper estate planning can assist with avoiding probate, nominating guardians for your minor child, or asset protection. As most people’s personal and financial lives change over time, your relationship with your estate planning lawyer is a long term relationship that must be built on a foundation of trust. Anthony J. Diaz cherishes those relationships and understand that a foundation of trust must be earned.
Last Will & Testament: A Last Will & Testament is a very critical element in the estate planning process. If a person dies without a will, they are said to have died “intestate”, therefore state law will determine how the assets will be distributed. A will can be used to nominate the guardians of your minor children in the event that they are orphaned. A will also allows you to distribute your personal property to your wishes.
A will combined with a trust is known as a pour over will, this document will assist in carrying over any assets not placed into the Trust when originally created, at the time of one’s death. These two documents work together to avoid probate and eliminate the additional stress at the time of a loved one’s death.
Trusts: A trust can be set up for many different functions such as to assist in the avoidance of a probate, to protect property from creditors, investment or tax planning purposes, or for other purposes. A trust is a legal entity used to benefit a family or person to better prepare their assets in the event of their passing. Trust can be created in many different forms and can assist people with many different situations. For example if you have children you can set up contingency trust within your trust for disbursements to the children at a required age, for specific reasons such as school, marriage, etc.
It is a much more powerful tool than a will because it can control your assets pursuant to your instructions during your lifetime and continues to control over your assets on your death, avoiding probate and maintaining confidentiality.
Durable Power of Attorney: A durable power of attorney is a legal document giving one person the legal right to perform certain acts on behalf of another person with regards to financial matters. A power of attorney can be very broad or very specific based on the powers that a person assigns to another. This document is to help designate a back up person if a person was to become incapacitated.
Health Care Surrogate: A health care surrogate, also known as an advanced directive, gives a person the authority to make medical decisions for said person, if that person becomes incapacitated or is in need of emergency medical treatment. In the event you have someone you trust to carry out your medical wishes and need to have them named as your health care surrogate this document can be completed by you easily and effectively.
Living Will: A living will is a written declaration that sets forth your intent as to whether or not you want life support systems to be discontinued once you have entered into a coma or a vegetated state. This document will assist your family in making the decision in your best interest, during this saddened time.