,

A living will can become an important part of an estate plan in Florida

Port St. Lucie, FL – When someone is planning their inheritance, a basic will is often used as part of an estate plan, however there are other options as well and ways to supplement the plan. A living will is a document that allows for more versatility while the person who created the document is still alive and able to make their own healthcare decisions, as well as manage their money and assets.  

The definition of a living will

A living will is essentially a contingency plan for when someone experiences significant health issues and cannot make important decisions on their own. The living will allows the person to communicate their desires related to healthcare and treatment if they are unable to do so because of serious medical problems. Many people choose to consult with a doctor when drafting this document so they can decide in advance what type of treatment and procedures will be utilized, and they can consent to a course of treatment before it actually becomes necessary. This is in contrast to regular wills, which are only examined in a probate court after the testator has died, and a standard will only deals with issues related to property, money, and other assets. 

Advance directives are similar medical documents, and a living will is essentially a type of advance directive. This can outline the person’s final wishes regarding their medical conditions, but it does not give the power to make these decisions to another family member or trusted individual such as power of attorney or durable power of attorney documents. Anyone dealing with end of life issues should get legal help to decide which legal instruments are best for their personal situation. 

Living trusts

In addition to wills, trusts are another type of legal instrument that can accomplish some of the same goals as a will that goes through probate. Because a living will mostly deals with medical issues and care, a living trust is beneficial as part of an estate plan to handle property issues. 

A trust can be set up to distribute money, investments, assets, and property to family members, charitable organizations, or any other individuals or entities. When the testator sets up a living trust while still alive, they can make changes as necessary and set the conditions that will guide the management of the trust after their death. 

Estate planning firms in Florida

The Estate, Trust, and Elder Law Firm assists local clients in Port St. Lucie and nearby areas with estate planning, wills, and medicaid issues. Anyone who needs more information about trusts, living wills, and related matters can consult with the firm for additional help.  

Firm contact info:

The Estate, Trust, and Elder Law Firm

850 NW Federal Highway, #1004, Stuart, FL 34994

772-261-8556

www.etelf.com

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *