FORT LAUDERDALE ESTATE PLANNING
At the Law Offices of Odelia Goldberg, we approach estate planning holistically where no one part is viewed in a vacuum. We look at the “big picture” to capture the client’s goals properly. The will is not drafted without considering the overall estate tax plan; the plan for property management at death is not finalized without taking into consideration the property management plan during life in the event of a disability. For this reason, our firm considers a complete estate plan as comprising of at least these four basic documents; Powers of Attorney, Health Care Proxies, Living Wills and Wills/Trusts.
What is Estate Planning?
Estate planning is the process of preparing for the management and distribution of your assets in the event of death or incapacitation. This process involves drafting at least four basic documents that reflect your personal and financial goals, such as Powers of Attorney, Health Care Proxies, Living Wills and Wills/Trusts. We sometimes refer to these documents as advanced directives or life planning documents.
What is a Living Will?
A living will is a document that allows clients to dictate specific health care wishes if they are unable to make decisions themselves. This document attempts to anticipate possible medical circumstances and outlines what medical treatments the client would want administered or withheld under those circumstances.
What is a Last Will and Testament?
A last will and testament is a document used to direct how property should be distributed upon the testator’s death. If you die without a will, Florida Statutory law determines who inherits your assets and who would be the personal representative of your estate.
What is a Powers of Attorney?
A power of attorney is a document delegating authority from one person to another. The maker of the power of attorney (the “Principal”) grants the “Agent” the authority to act on the Principal’s behalf.
A power of attorney allows the Agent to manage business or financial matters for a busy or absentee Principal. This document minimizes disruption and ensures continuity in important transactions when the Principal cannot act personally due to incapacity or disability.
What is a Health Care Proxy?
A health care proxy is a document that allows a client to appoint someone (a “health care surrogate”) to make health care decisions in the event the client loses the ability to make those decisions themselves. This document ensures that health care providers follow the client’s wishes, particularly regarding organ and/or tissue donation. Still, a living will is preferred for providing a more complete list of instructions.
