Wills and Estate Planning

    The old cliché says “No one plans to fail, we only fail to plan.”  This cliché is especially true when it comes to preparing for the inevitable, death.  The preparation of a will and estate planning are important ways to insure that your family is cared for and that your good name is preserved after your death.  Drafting a will can be simple or complex depending on your assets but can hopefully eliminate questions that your loved ones might have about how to dispose of your property when you are no longer with them.
 
    A will is the written direction that controls the disposition of your property at the time of your death.  Certain requirement s must be met in order to make a will in Florida.  A will can be amended at any time before the maker’s death but amendments must also follow certain rules.  In other words, you can’t just write something in or scratch something out of the will in order to change it.  The advantage of making a will is that you decide who gets your property when you die.   

    If you die and leave minor children, a will can name a guardian for the children and establish a trust that will provide for the children’s care; and your family can potentially avoid the additional expense of custody or guardianship proceedings of your property.   A will can also direct the sale of your property without additional court proceedings and direct how creditors and taxes will be paid.
 
    If you die without a will, Florida considers you “intestate” and the State will distribute your property according to a formula that is specified by law.   If there are no heirs at law, your property can go to the State of Florida.  When there is no will, the court appoints a personal representative to manage your estate and the cost of probating your property may be greater than if there had been a will in place.

    Estate planning is an important tool for helping to determine how your property should be distributed and what potential tax consequences could result.  Careful planning and proper preparation could minimize those potential tax consequences.  While a life insurance policy and a trust is not a substitute for a will, having life insurance, health care coverage, long term care insurance, mortgage protection insurance, and funeral arrangements in place ahead of time will relieve a great deal of pressure on your family members who can better use that time to properly grieve when you are no longer there. 

    An attorney can help you review and update your current plan or create a new plan for how your family and your property will be distributed when you die.   An attorney can work with insurance counselors, financial and investment advisors, accountants and other related professionals to help develop a complete and proper estate plan for you.

    Donna M. Goerner’s undergraduate degree from the University of Florida was a Business Administration Bachelor of Science majoring in finance which was earned in only three years.  This course of study focused on strategic investment planning with courses in economics, accounting, and statistics. 

    Mrs. Goerner understands financial planning and investments and has a relationship with a financial and insurance consultant to help you plan accordingly.   As an attorney, Mrs. Goerner is available to counsel your estate planning and draft your will and other necessary legal documents to put your plan in action. 
Another cliché says: “Don’t put off until tomorrow what you can do today.”  Call for an appointment.  There is no charge for the initial consultation.