• 15
  • September
    2010

Almost everyone has questions about estate planning. Florida estate planning lawyers hear them all the time. But, almost always, they are good questions. Here are some good examples:

1. Can't I just write my own will?

This isn't something you want to get wrong. By the time you find out if you did everything correctly or not, it will be too late. It's probably worth paying for a professional opinion. 

Think of it this way: when you go to the doctor and get a prescription, you're not just trying to get a piece of paper. You're getting the doctor's professional expertise. It's the same with a will. You can get yourself a piece of paper, and it will be a will, but it won't have an estate planning lawyer's expertise.

 

2. When should I have a will?

Once you have children the importance of having a will grows, since a will allows you to name a guardian. But anyone who has accumulated some money or other assets should have a basic will. If you don't, everything will be divided up according to the law of the land where you live, and this might not be according to your wishes or in your beneficiaries' best interests.

3. Does a will cover everything I need?

Probably not. When it comes to medical matters, an advance healthcare directive or living will describes what kind of treatment you want (or do not want) at the end of your life.

A power of attorney gives someone legal authorization to handle your financial affairs if you become unable to do it yourself.

4. Should I have a revocable living trust?

In most cases, a living trust can allow you to avoid probate, along with its costs and its public nature. A living trust is also more difficult to contest than a will. Living trusts cost more to set up and require more maintenance than a will, so they are not for everyone. A Florida living trust attorney can help you determine the best route for you. 

5. Where my will be kept?

Many experts recommend a fireproof box in your home. Whether you keep it at home or in a safe deposit box, make sure your executor knows where it is.

Source: New York Times "Getting a Will: Six Common Questions" 8/26/2010