Regular readers of our Brevard County legal blog know that it is important to us to help people do what they can to minimize uncertainty and to secure the future for their families. We understand that few people are eager sit down and plan their estate, but we also know that the benefits of planning far outweigh any discomfort thoughts of death might bring.
Far too many people in Cocoa, Melbourne and surrounding communities put off the planning, telling themselves that they will take care of it one day soon. The result of that procrastination can be that your wishes are never carried out.
That can mean that those who you want to inherit the assets you worked so hard for will not receive them. In other cases, the assets will be passed on, but significantly diminished by taxes and time-draining probate.
The upside of sitting down with an attorney experienced in estate planning is your doubts about your estate are removed: you will be sure that your loved ones inherit the things that are important to you. A few essential documents will enable you to pass those items on.
- Last will and testament: this fundamental estate planning tool enables to direct where your assets go when you die. Without it, your estate is distributed by a court that knows nothing of you or your wishes.
- Revocable trust: also known as a living trust, this planning tool is similar to a will, but it enables your heirs to avoid probate. That means they avoid probate court costs and the emotional strain the process can put on heirs.
- Health care surrogate: this tool allows someone you name to make medical decisions on your behalf in the event you are incapacitated.
There are a number of other estate planning documents that can protect you, your assets and your family in the days ahead. Contact Cantwell & Goldman, PA, for more information.