Frequently Asked Questions about Florida Estate Planning

What is the purpose of Estate Planning?

Estate Planning in Florida enables individuals to outline directives for the distribution of assets, appoint guardians for minors, address relevant financial factors and minimize taxes and healthcare concerns in a coordinated way that aligns with their wishes.

Are there specific requirements for creating a valid will in Florida?

Yes, Florida has unique requirements for Wills, including the need for two witnesses to sign the document in the presence of the testator. Working with an Estate Planning attorney can ensure that your Will is legally valid.

Can a Durable Power of Attorney be part of a Florida Estate Plan?

A Durable Power of Attorney allows individuals to designate an agent to handle financial matters should they become incapacitated, providing continuity and protection for assets.

How does Estate Planning address healthcare decisions in Florida?

Estate planning includes documents like a Healthcare Surrogate Designation to appoint someone to make medical decisions if the individual cannot communicate them, towards ensuring that their preferences are followed.

What role does a Living Will play in Florida Estate Planning?

A Living Will, also known as an Advance Directive, outlines an individual’s preferences regarding end-of-life medical care to uphold their wishes when they cannot communicate them.

Can Trusts avoid Probate in Florida?

Estate Planning attorneys commonly use Revocable Living Trusts in Florida to transfer assets outside of Probate, providing privacy, efficiency and flexibility in estate distribution.

How can Estate Planning help minimize estate taxes in Florida?

Proper estate planning strategies such as gifting, setting up Trusts and utilizing tax exemptions, can help reduce estate tax liabilities and preserve assets for beneficiaries.