If you were to pass away without proper protection in an estate plan, then your assets are subject to probate court, which is very frustrating and often an expensive process for your loved ones. Estate planning in Boca Raton can be done with the help of a good attorney to ensure everything you want to happen in the event of your death is done according to your wishes.
What does estate planning in Boca Raton include?
Estate planning can include any or all of the following legal documents or directives that stand up in a court of law.
Estate planning includes protection for your loved ones.
Trust
A trust is not subject to probate process nor filing. Trusts specify how your assets are to be handled, invested, distributed, or utilized during the life of the trust. There are different types of trusts, and an attorney can help you decide what works best for your situation.
Will
A will designates how your personal property should be distributed after you pass away. Your last will and testament also indicates guardianship preferences for your minor children.
Estate planning in Boca Raton helps you avoid disability risks.
Living Will
In the event that you are incapacitated, a living will specifies what procedures you approve to prolong your life. This makes sure that no one else has to make the hard decisions for you.
Power of Attorney
Power of attorney gives the legal right to someone else to make decisions on your behalf if you are physically or mentally unable to make decisions.
Estate planning makes sure your money is given to charities you wish to support.
Charity
Proper planning helps ensure money you wish to go to charitable causes that hold a special place in your heart is proper allocated. This can also help reduce estate taxes.
Additionally, there are other benefits to estate planning.
Estate planning helps you plan on providing for your minor children if you should pass before they enter adulthood. It can help with personal tax planning and life insurance as well. Talk to a Boca Raton estate planning attorney to learn more about how they can help you plan for the unknown.