WILLS, TRUSTS, AND ESTATE PLANNING
When you choose to work with Scarnecchia Mullin, PLLC you’re choosing a team dedicated to creating a unique and comprehensive Estate Plan that will help you plan for the unexpected. Our goal is to help you design an Estate Plan that covers how to handle all matters that may arise during your lifetime and after death. Our Fort Lauderdale Attorneys are available to review your existing plan or help you to create a new one.
Popular opinion dictates having an Estate Plan is only for the wealthy and elderly, but this is simply not true. Traditional Estate Planning is essential for everyone no matter what stage of life you are in. Our Estate Planning Attorneys will guide you through each component of an Estate Plan and explain the importance and impact of each document.
Last Will and Testament. The Last Will and Testament is a legally enforceable document that states how the testator (party signing the Will) wishes their affairs to be handled, and assets distributed, after their death. The Last Will and Testament will name a Personal Representative for the Estate and Guardians for any minor children.
Testamentary Trust. A Testamentary Trust is created in accordance with the instructions in a person’s Last Will and Testament and becomes effective after one’s death. A Testamentary Trust outlines when assets will be given to certain named beneficiaries. A Testamentary Trust created through a Will must go through probate before the Trust is created.
The Revocable Living Trust. A Revocable Living Trust becomes effective upon your signature and may be changed throughout your lifetime. As the trustor, you maintain ownership of your property and assets while you are alive. The Revocable Living Trust becomes operational upon your death and your assets pass immediately to your named beneficiaries. The Revocable Living Trust avoids probate and does not become part of the public record.
Durable Power of Attorney. A Durable Power of Attorney enables an individual whom you appoint to make financial decisions on your behalf in the event you become incapacitated or cannot care for yourself.
Florida Designation of Health Care Surrogate. A Florida Designation of Health Care Surrogate enables you to choose an individual to make all necessary medical decisions on your behalf in the event you become incapacitated. This individual is given the right to consult with your health care providers and make health care decisions on your behalf.
Living Will. A Living Will memorializes your wishes regarding your end-of-life care in the event you have a terminal condition. The Living Will provides your Health Care Surrogate with a roadmap of your desires as to end of life care.