You want to have your affairs in order regardless of what life throws at you. Even something like the birth of a new child could spur you to make preparations for the future.
Yet, thinking about your estate, beneficiaries, and power of attorney could seem overwhelming. You may even be tempted to put these affairs off until a later date. However, the goal of estate planning is to have your assets in order in the event of a sudden death or illness.
A Titusville estate planning lawyer can help you with the following:
- Designate a power of attorney if you get sick or incapacitated.
- Outline who receives what in the event of your passing.
- Account for any disputes or issues with your will.
Bogin, Munns & Munns can help you manage your estate. We will evaluate how state and federal laws apply to your assets and help you create a plan of action accordingly. To begin a consultation with a member of our team, call (321) 415-0835.
Explaining Estate Planning and Your Situation
Many people hear the term “estate planning” and think that it has to do with creating a will. While this is true, this is not the only thing that estate planning entails.
A Titusville estate planning lawyer from Bogin, Munns & Munns can help you with the following:
Writing a Will
At its core, your will names the person you will trust with distributing your assets to your beneficiaries. This document will go into detail about how your assets will be distributed after your passing.
Some examples of assets that you may want to include in your will are:
- The ownership of pets
- Vehicles
- Jewelry
- Collectible items
- Real estate property
- Insurance money
- Funds that are in your checking or savings account
- Stocks
- Custody of children
Without a will, your loved ones may argue over who should get what. They may even take the case to probate court, which could delay how your assets are distributed. By having a lawyer help you write a will, you can avoid any complications that impede how your will is carried out.
Writing a Living Will
A living will gives instructions regarding your end-of-life care. Toward the end of your life, you may be cognitively or emotionally unable to make certain decisions. By creating a living will ahead of time, you can give clear instructions as to how your final days should be managed.
For instance, let’s say that because of an accident, you were placed on life support. By having a living will, you can give instructions for how long you should remain on life support – if at all.
This way, your surviving friends and family members do not need to argue about your last wishes. You can learn more about the details of creating a living will by reading Florida Statute § 765.302.
Giving Durable Power of Attorney
As noted above, in certain situations, you may not be able to make decisions for yourself. By designating someone as your durable power of attorney, they can make certain decisions for you in regard to your finances and wishes.
Having a power of attorney does not only apply to end-of-life situations. A power of attorney could come in handy while you recover from surgery or cannot be reached in time to make an important decision.
Creating Medical Records and Privacy Waivers
For the most part, your medical records are confidential and can only be discussed between yourself and your healthcare team. However, in certain situations, you may want to share them with other people. For instance, you may want to have your medical records released to a lawyer upon your passing.
This could be helpful if you were killed due to the wrongful actions of another party. They could use this information to help your family recover compensation for your death-related losses.
An estate planning lawyer from Bogin, Munns & Munns can help you with other obligations than those listed here. They can help you with declaring a guardian and designating a health care surrogate. To learn more about the services our Florida law firm provides, call (321) 415-0835.
The Benefits of Working With an Estate Planning Lawyer in Titusville
Everyone, regardless of their financial standing, has assets. As noted earlier, assets could include tangible things, like cars and houses. They could also include non-tangible items, like stocks and insurance benefits.
A lawyer from Bogin, Munns & Munns can help you manage your estate by:
Calculating the Value of Your Assets
You may have a general idea of what your assets are worth. However, after a lawyer reviews your affairs, you may find that they are worth more or less than you initially thought.
By having a lawyer calculate the value of your assets, benefits, and properties, you can gain more insight into your loved ones’ inheritance.
Determining How Federal and State Laws Apply to Your Case
After you pass away, the government may tax certain aspects of your affairs. As you manage your estate, you want to know that your loved ones are taken care of and get the money you want them to have. You may be surprised to learn that many aspects of your affairs may be tax-exempt. A lawyer can explain your options if this is the case.
Call Bogin, Munns & Munns Today
We understand that planning your estate can quickly become a complicated and time-consuming endeavor. Let a Titusville estate planning lawyer from our team help you name your power of attorney, write your will, and understand the value of your assets. To talk to a member of our team, call (321) 415-0835.
