VanNess & VanNess, P.A.

The many uses of an estate plan

Some Florida residents might think that they do not need an estate plan because they do not have many assets. However, an estate plan can be an important tool for many adults. Furthermore, it is more than just a way for a person to pass on assets to loved ones. It can also be used to make arrangements for end-of-life care. This may include a document that appoints someone to make health care decisions if a person is incapacitated as well as a power of attorney to take care of a person's finances in the same circumstances.

Long-term health care insurance may important in planning for the last part of a person's life. It could protect a person from losing all their assets after going to a nursing home. Another thing a person may want to consider is creating a trust instead of using a will to pass on assets. Trusts can have a number of uses including paying for a person's health care and donating the rest to charity. A trust also allows a person to avoid the probate process and donate assets directly to loved ones.

One difficult but important decision is choosing who will have power of attorney and other decision-making responsibilities. These responsibilities can be split among family members and even among professionals.

It may be tempting to postpone estate planning because people do not want to think about illness and death, but an estate plan takes a great burden off of loved ones. People might want to consider discussing their ideas about the estate plan with family members to reduce the likelihood that the plan will be challenged. An attorney might be able to guide them toward trusts or other vehicles that they may not realize can be useful in their situation.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Discuss Your Case With An Experienced Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Office Location

1205 N. Meeting Tree Blvd.
Crystal River, FL 34429

Toll Free: 866-697-6221
Phone: 352-436-4333
Crystal River Law Office Map

250 International Parkway
Suite 340
Lake Mary, Florida 32746

Toll Free: 866-697-6221
Phone: 352-436-4333
Map & Directions

Office Location