Through the methods mentioned above, an estate planning attorney can help you manage and structure your assets to provide for a smoother transition to your loved ones. Estate planning attorneys also help structure your estate to provide greater protection for your assets from creditors or the creditors of your beneficiaries. Finally, your attorney can help you reduce the burden on your loved ones when you are incapacitated or pass away.

When you create these documents without an attorney, you could inadvertently fail to meet a statutory requirement which could invalidate a bequest or disqualify a person you chose to represent you or your estate during incapacity or upon death. In that case, despite thinking you had a plan in place, the government could instead handle your affairs for you.

If you don’t prepare a plan for your estate, your assets will still pass to certain parties upon death. However, your estate will be passed in accordance with intestate succession. This is basically a will created by the government to determine how your assets will pass without a will. Some people do not like the idea of having the government decide how their life-long legacy will be divided and prefer to make that decision themselves. Intestate succession could cause your estate to pass to beneficiaries that you do not wish to receive your assets. You should hire an attorney to help properly arrange your estate plan to avoid intestate succession.

With advances in modern medicine, people tend to live longer and to a point their physical body out-paces their mind. A crucial part of an estate plan is planning for incapacity. You may have your estate plan in order upon your death, but what will happen to your assets when you are still living but unable to make competent decisions?

This can be detrimental to your assets, or worse, burdensome on you and your loved ones. If you fail to plan for incapacity as part of your estate plan, you could inadvertently place the burden of deciding what to do with your assets or your health on your family. In some cases, the only recourse will be to obtain a guardianship. A guardianship requires court involvement, it can be lengthy, very expensive, and can often be avoided by having the proper planning documents in place. It is a good idea to hire an attorney to help you create a plan for incapacity. An incapacity plan will permit those you designate to manage your assets without court involvement, ensure you are cared for the way you want, and alleviate the burden of making tough decisions from your family.

You might want to contact AA Law Firm, P.A. today to assist with your estate plan if you fall under the following circumstances:

• If you have never made an estate plan.
• If you don’t have an estate plan and don’t want the government to decide how your assets pass when you die through intestate succession.
• If you don’t have a will, trust or any other estate planning documents.
• If it has been several years since you have updated your estate plan.
• If you want to make changes to an existing estate planning document.
• If you have recently moved to Florida.
• If you have significant wealth and require estate tax planning.
• If you have come into possession of significant assets or wealth.
• If you are concerned and want to plan for health and asset management in case of incapacity.
• If you were recently diagnosed with a terminal illness.
• If you have a history of a mentally incapacitating illness in your family such as dementia.
• If you have concern for a loved one with ailing health.
• If you are newly married or are recently divorced.
• If you are considering getting married but want to preserve your wealth for your children or other family.
• If you are contemplating divorce and want to know how it will affect your estate plan.
• If your spouse has recently passed.
• If you or your spouse are not U.S. Citizens (to plan for tax liability).
• If you have recently had children, adopted children, had grandchildren, one of your children has passed, or your family dynamic has otherwise changed.
• If you don’t get along with family or have estranged family members.
• If you are in the military or work in a profession with a high risk of injury or death.
• If it is the year 2026 (when the increase for estate tax exemption is scheduled to expire).
• If you are thinking about traveling great distances, to a foreign country, or for a long duration.
• If you are curious about estate planning and wish to seek legal advice or more information.