Best Probate Attorneys in Hollywood, FL

The emotional definition of estate planning is putting your wishes in writing to ensure that your loved ones are taken care of when you pass away. The technical definition is organizing your assets and liabilities while you are alive to specify who gets what, how much, and who is in charge when you are no longer around. You can make provisions for charities that are meaningful to you, as well as individuals. Estate planning includes selecting guardians for your minor children, creating a Last Will and Testament or a Trust, along with a Power of Attorney and a Living Will.

A common misperception is that only wealthy individuals require estate planning but the reality is EVERYBODY needs estate planning. This includes parents, parents of children with special needs, children taking care of aging parents, the elderly population, homeowners, unmarried couples that reside together, entrepreneurs, and foreign nationals seeking to buy real estate in Florida. The list is endless. Whether you own a business, work for a company, are married or single, or have children, the way you decide to manage your estate can have an impact on your loved ones for generations.

The cost to plan a larger estate will be higher than the cost to plan a smaller estate. The costs vary depending on your individual family needs. There is no one size fits all approach to assessing fees but they are typically in proportion to the size of your estate. Estate planning is always hugely more economical that going through the probate process after a loved one passes away not having any estate planning documents in place.

Yes, yes, yes. A Power of Attorney ("POA") is a legal document that allows you to give permission to another person (your agent) to act on your behalf regarding financial and legal matters. This need can arise in emergency situations where you are incapacitated and cannot make decisions on your own. A POA legally protects your financial and health-related interests that would otherwise be appointed in court. Your appointed agent should be someone that you trust, such as a family member or close friend. The Power of Attorney document only works while you are alive and ends when a person passes away. At which point, your Trust or Will should kick in to dictate the terms of how to distribute your estate.

The benefits of a living trust include: avoiding probate (a costly court process), retaining control and exclusive use of all your assets while you are alive, and provides privacy because a trust does not get recorded into the public records.