South Florida Estate Planning News
Recent Posts and Articles
Newlywed Estate Planning Essentials
When starting a new marriage, there is much to think about: communication, living conditions, holiday plans, financial stability, and the wedding itself. However, something often overlooked by new spouses is the importance of creating an estate plan. It can be hard to think about what would happen if your spouse became ill, incapacitated, or worse, but an estate plan can ease those difficult times. An estate plan typically includes a will or trust, but the most important documents for a new couple are Health Care Directives and Powers of Attorney.
Read MoreWhat You Can Learn from the Leno Conservatorship Proceedings
Here are key lessons from the Lenos’ experience: 1. Spouses Can’t Automatically Step In: Many believe that being married means their spouse can automatically manage their finances or healthcare decisions if they become incapacitated. This isn’t true. After turning 18, no one, not even a spouse, can manage these affairs without prior consent (through estate planning documents) or court involvement.
Read MorePop Quiz for August
Many folks think that the person who looks after your children must be the same person who handles their inheritance. But that’s a myth! You can pick a loving, caring guardian for your children and choose someone else entirely to manage the money side of things.
Read MoreBe Very Careful using an Online Power of Attorney
As an attorney, I make sure that these mistakes do not occur. An online form is just a piece of paper, and if any mistakes are made, the family will feel it for years to come. Take a look at my post regarding POAs and the top 10 reasons you need an attorney to prepare one!
Read MoreProtect Yourself from Fraud
Whether it’s guilting you into investing, instilling fear in you, or giving you the impression that they are professionals, con artists know exactly how to persuade you. Don’t rush yourself and don’t allow others to rush you. Take your time when making investment decisions, remain skeptical of unsolicited offers or offers that seem like they are too good to be true, and be sure that your money is always accessible.
Read MoreHow to Plan for Quarantine or extended illness
Now is the time to make sure you are protected if you are quarantined or if you get sick! You will rest easier if your basic estate planning is done. But everyone should have these three basic documents, regardless of their wealth or health.
Read MoreBank Pays Price for Failing to Honor a Power of Attorney
A durable power of attorney (POA) allows the person creating the POA, called the “principal,” to name a trusted agent who can act on his behalf in almost any situation. But because of the risk of abuse, many banks will scrutinize a POA carefully before allowing the agent to act…
Read MoreWarning: you must have a Power of Attorney!
Imagine if tomorrow you were in a car accident or overcome by an illness and unable to communicate… What would your family do? I have sat on the edge of too many hospital and/or rehab beds dealing with distraught family members. You must have someone (with alternates) to call your…
Read MoreExecute a Power of Attorney Before It’s Too Late
A durable power of attorney is an extremely important estate planning tool, even more important than a will in many cases. This crucial document allows a person you appoint — your “attorney-in-fact” or “agent” — to act in place of you — the “principal” — for financial purposes when and…
Read MoreHow to Handle Sibling Disputes Over a Power of Attorney
A power of attorney is one of the most important estate planning documents, but when one sibling is named in a power of attorney, there is the potential for disputes with other siblings. No matter which side you are on, it is important to know your rights and limitations. A…
Read More