FAQ: Learning More about What We Can Do for You!
What is a Durable Power of Attorney?
This is a legal process of designating a person/person’s of your choice to act for you in the instance of a sudden debilitating accident or death. It allows said person/person’s to avoid the legal process of petitioning the court for guardianship on your behalf.
What is a Living Will and Healthcare Surrogate Designation?
A living will is a declaration that states your wishes and intentions in the instance that you are unable to speak directly with a physician during a life-sustaining or life-threatening situation. By designating a Healthcare Surrogate you are appointing an agent to act on your behalf with your best interests in mind regarding healthcare related decisions that are outside your living will requests.
What is Probate?
Probate is a legal, court appointed process that takes place after someone dies. When single party assets are left behind a probate process must take place in order for the courts to designate which parties have legal rights to them.
What is Estate Planning?
Estate planning allows you to plan for the designation of your assets in the instance of a sudden death while you are still living. It can help your loved ones avoid probate, save on taxes and attorney’s fees, and ensure your assets are where you wish for them to be. All estate plans should include a Durable Power of Attorney, Living Will and Health Care Surrogate, and a Will or Living Trust.
What are Trusts?
A trust is a legal process that allows a third party, or trustee, to hold assets on behalf of a beneficiary. They can specify exactly when and how assets are transferred to beneficiaries and assist you in avoiding probate while giving them access to assets quicker than a Will may allow. It could also result in fewer taxes during the settlement of your estate.
Do I need a Trust?
- Trusts offer a number of important benefits including:
- Probate avoidance
- Guardianship procedures
- Undesirable allocation of assets during life and after death
- Privacy retention regarding family assets and finances
What is Medicaid Planning?
Medicaid Planning allows you to protect your assets within state and federal guidelines in the event of a sudden accident or illness. It allows you to access all available benefits without exposing family assets to nursing home costs.
Call us at (727) 362-6963 a FREE consultation today and start planning for your future!