An estate plan provides for the management and disposition of your property, during your lifetime as well as after your death. No matter what your net worth, it is very important to have a basic estate plan in place to ensure that your family and financial goals are met after you die.
Estate Plans can have several elements including:
- Living wills
- Life insurance trusts
- Charitable trusts
- Special “needs” trusts
- Durable powers of attorney
- Healthcare proxy (medical power of attorney)
- Elder law (long-term care planning)
- Tax planning
The process of creating an estate planning often includes inventorying your assets, making a will and/or establishing a trust, preparing a durable power of attorney and other advanced directives. Also addressed are ways to minimizing taxes on your estate, naming a guardian to care for your children and your children’s assets, identifying your charitable inclinations, preserving your assets against catastrophic illnesses, establishing who and how you will be cared for and for the management of your assets in case you are disabled by an incapacitating illness or accident, designating your preferences concerning life support and the designation of a person or persons to make health care decisions for you in the event you are unable to make them for yourself.
Estate plans can help ensure that your assets are distributed to the beneficiaries you have chosen and they can save your heirs time and money.
KALIS, KLEIMAN & WOLFE help beneficiaries, family businesses, individuals and families and professionals on a variety of lifetime planning issues, including estate planning, wills, trusts, property transfers, income, estate gift and more.
If you considering establishing an estate plan and have questions or concerns regarding the will, trusts and estates, contact the experienced Probate, Wills & Trust Attorneys at , the South Florida-based law firm today at (954) 791-0477.