At Fletcher & Phillips we have found that estate planning, provides an excellent complement to other Family Law endeavors. When a marriage is dissolved or a divorce is modified, property is divided and children must be provided for in new ways. When a new marriage is entered into, property and families may be blended in simple or complex ways. When grantors or beneficiaries move to Florida from another state, state laws may change the effects of their provisions. These are all opportune times to revisit or even create a Will, Trust, or other document such as Power of Attorney, Living Will, or Designation of Health Care Surrogate.
With their family law experience, the attorneys at Fletcher & Phillips have exceptional insight into the long term effects of change on families and their estates. It is this perception that guides them when assisting clients in designing what will happen to their estates, businesses, healthcare choices, etc. at the end of life or when their children reach majority, for example.
As experienced, litigators, the attorneys at Fletcher & Phillips are knowledgeable on drafting documents that withstand litigation.
A Will is one of several tools available to delineate what will happen to your property and, in many cases, to your dependents after your death. It should outline who will execute those wishes and can set up a Trust upon the event of your death.
A Living Will instructs caregivers as to your wishes if you become physically or mentally incapacitated, during surgery or in an accident, or should you later develop dementia, for example. http://www.nolo.com/legal-encyclopedia/what-is-will.html
A Trust is a way to protect or control financial assets. There are many types of Trust serving different purposes using different methods. One can have a Living Trust which goes into effect while the grantor is still alive. A grantor can choose to make it either revocable or irrevocable, usually depending on what purpose the Trust will serve. There is a Minor’s Trust which can provide for management of a minor child’s assets until the child reaches an age specified by the Trust. A “Spendthrift” Trust attempts to prevent the heir or heirs from dissipating their inheritance unreasonably. There are many other types and reasons to set up a Trust in Florida.
If you do not currently have a Will or need a Trust, or if you need your estate planning documents updated, please call the attorneys at Fletcher & Phillips at 904-353-7733.