02/01/2024
I recommend that all of my clients have several documents in place at a bare minimum. These documents are needed to name their desired beneficiaries when they die, but also – and, in my opinion, more importantly - to take care of themselves while they are alive:
- Will - A Will allows you to designate the individuals or charities that you would like to receive your assets at your death. Without a Will, Florida law will determine who gets your assets.
- Durable Power of Attorney - This document names the person whom you want to handle your finances and legal matters if you are either unable to handle these matters or you just want someone else to handle them.
- Designation of Healthcare Surrogate - This document names the person whom you want to make medical decisions for you if you are unable to do so.
- Living Will if you wish to have one - This document states your end of life decisions. It names the person whom you would want to make a decision regarding withdrawing feeding tubes if two doctors advise that nothing further can be done to allow you to return to your life in any meaningful way.
If my client has a minor child(ren), the estate plan also needs to include the documents through which the client states the person the client wants to make medical decisions for the child if the parent is not available and the person the client wants to serve as the child’s guardian in case of the parent's death.
Additionally, if a client owns real estate in Florida and wishes to avoid probate, I can prepare a specialized deed that basically serves as a beneficiary designation for the client's home or other Florida property so the property does not have to go through probate.
With regards to setting up a Trust in addition to a Will, I normally recommend a Revocable Trust in 3 situations:
1. When a client has a young or irresponsible child(ren) or beneficiary(ies);
2. When a client owns property out of state; and
3. When a client owns a small business that needs to be up and running the day after death.
If none of these situations apply to my clients, I would recommend a Will-based package which includes a Will, a Durable Power of Attorney, and the following healthcare documents: Designation of Health Care Surrogate, Living Will, and HIPAA Release.
As for my process, it is not overly complicated. I email my potential clients a questionnaire that I use to gather the information necessary to determine the best estate plan for my clients and to prepare the estate planning documents.
After I review the completed - or mostly completed - questionnaire with my potential clients and we have all of the information in place, I give my potential clients my recommendation for the type of estate plan and documents that will best address their needs and accomplish their goals. Once these potential clients decide what estate planning documents that they would me to prepare for them, I send them the engagement documents so that they can officially hire me to prepare these documents for them. I will also include an invoice for my fees. I ask for half of my fee upfront, with the remainder due when you come in to sign documents. I accept checks, Zelle, and credit cards.
As for timing, once I have answered my clients’ questions and I have the information I need, we will set a date for you to come to my office to sign the documents, generally 4-5 weeks out. I email the documents to my clients approximately a week before that date so that they can review them and I can address my clients’ questions and make any needed corrections before they come in to sign the documents.
When you are ready to move forward, you can contact contact me at [email protected] or on my cell at 813-758-3492.
