Estate planning is a part of life. Though it may be unpleasant to acknowledge your mortality, preparing for your passing should be a central part of your financial planning for your future. Starting your estate planning journey sooner rather than later will give you peace of mind that your loved ones will be taken care of and your assets distributed according to your wishes when you’re gone.
As a leading Coral Springs estate planning attorney, Gary I. Handin, P.A., and his team are here to help you navigate the daunting world of wills, trusts, and health care surrogates with compassion and care. Our vast experience in estate planning matters, which spans over 50 years; our attention-to-detail; and our reputation for excellent client service make us the go-to estate planning attorneys in Coral Springs for countless families and individuals. We frequently assist clients with:
- Drafting wills and living wills
- Establishing trusts (living and testamentary)
- Coordinating the appointment of health care surrogates
- Establishing guardianship arrangements for minor children
- Drafting Durable Powers of Attorney
Wills
When you are no longer here, it is your will that will speak for you. For this reason, you want to be sure that your intentions are reflected clearly and validly in the document’s text. You also want to be sure that your estate avoids lengthy, complicated probate proceedings due to ambiguities or legal issues in your will. With an experienced estate planning attorney by your side, you won’t need to worry about these risks: they will consult with you in detail about your assets, your family situation, and any special provisions you want to include, and will ensure that your wishes are accurately and lawfully expressed in your will. At the Law Offices of Gary I. Handin, P.A., we have vast experience drafting wills both simple and complex, and will gladly assist you with drafting yours. Whether you’ve just started a family and want to draft your first will or are more senior and looking to update your existing will, our exceptional legal team is here to take care of all your estate planning needs.
Living Trusts
Trusts are a key estate planning instrument with many benefits, but establishing them can be complex. There are two types of trusts relevant to estate planning: living trusts (also known as revocable trusts) and testamentary trusts.
Living trusts are created during one’s lifetime: as the ‘grantor’ (creator) of the trust, you will place all your assets in trust while you are still alive so that at the time of your death, there are no assets in your estate requiring probate. This is one of the major advantages of living trusts – they allow your estate to avoid costly and time-consuming probate proceedings. As the grantor, you will be able to manage and administer the trust assets while you are alive, but on your passing, your co-trustee (often a spouse) or successor trustee will distribute the trust assets as per the trust deed (this is the legal document establishing the trust which you will draw up with your estate planning attorney). A further benefit of living trusts is that they are revocable, that is, they can be amended during your lifetime to reflect family and personal status changes. However, there are certain limited circumstances in which a living irrevocable (i.e. unalterable) trust may be more suitable.
Testamentary Trusts
Testamentary trusts, unlike living trusts, are established in your will and only come into existence upon your passing. The trust is funded from the proceeds of your estate and/or a life policy and is administered by a trustee for the benefit of the trust beneficiaries (often minor or disabled children), under the supervision of the court. The benefit of using a testamentary trust is that you will have peace of mind that your assets will be administered according to your wishes and for the benefit of your loved ones after your passing.
It is important that you consult with an established wills and trusts attorney if you are considering setting up a trust. You need to understand the pros and cons of the different types of trusts and the tax implications of each before you decide whether you want to proceed. For a reputable trusts and estate planning attorney in Coral Springs, look no further than the Law Offices of Gary I. Handin, P.A. With our trust law expertise to guide you, we will help you to carefully plan for the protection and distribution of your assets, and will also be able to advise you on a range of other legal mechanisms for avoiding probate.
Living Wills
Living wills are a recently developed estate planning instrument but are increasingly popular. Living wills allow you to set out your wishes for the medical treatment you want to receive should you become incapacitated through illness or an accident. They also allow you to indicate the circumstances under which you wish treatment to cease (for example, upon the cessation of brain activity). Usually, living wills should be drawn up by a qualified estate planning lawyer who has expertise in living wills.
Health Care Surrogates And Durable Powers of Attorney
Like a living will, a health care surrogate arrangement is designed to cater to circumstances in which you are incapacitated through ill-health or accident. A health care surrogate is someone who you have nominated, while still of sound mind, to make important medical decisions for you in your stead. Similarly, you may wish to grant a family member or trusted advisor durable powers of attorney, giving them the power to manage all your financial, legal and other affairs in the event that you lack the capacity to do so yourself. Powers of attorney can have varying scope depending on your specific needs, so it is important to consult with an experienced lawyer to determine what will work best for you.
Whether you require a living will, health care surrogate appointment or durable powers of attorney, Gary I. Handin, P.A. is the Coral Springs estate planning attorney for the job. With a wealth of experience in helping individuals prepare for the unfortunate possibility of their ill-health or incapacity, Gary and his highly capable team will ensure that your best interests are taken care of and that your living will, health care surrogate appointment or powers of attorney is precisely tailored to your needs.
Guardianship For Minor Children
Though it may be difficult to think about, it is important that you confront the possibility that both you and your spouse may die before your children reach majority. If you are a single parent of minor children, it is even more critical that you plan for your children’s care in the event of your passing. Your estate planning attorney can help you establish guardianship for your minor children, allowing you to appoint a trusted individual to care for them in your absence.
Probate Proceedings
Probate is a court-supervised process in terms of which a deceased person’s will is validated, their assets identified and liquidated, their debts paid and the remainder distributed to their beneficiaries in terms of their will. Probate is mandatory for most estates under Florida law. It can be an expensive process, as the personal representative (or executor) of the deceased’s estate is required to hire a probate attorney to represent them in court.
In addition to a thriving estate planning practice, the Law Offices of Gary I. Handin, P.A., also offers exceptional probate representation for its valued clients. We will help to ensure that your loved one’s estate is probated quickly, efficiently, and successfully so that you can focus on healing with your family.
A Leading Coral Springs Estate Planning Attorney
At the Law Offices of Gary I. Handin, P.A., we are proud to take care of the estate planning needs of countless families in Coral Springs. Our experienced team of professionals is here to guide you through every step of the estate planning process and comprehensively discuss your needs and concerns with you. To arrange a consultation, contact us at 1-877-815-4560 today.