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At Bailey Legal Group, we understand the importance of safeguarding your assets and ensuring your loved ones are taken care of. Our comprehensive estate planning services provide tailored solutions to protect your legacy and honor your wishes. From wills and trusts to advanced directives, we’ll work closely with you to navigate the complexities of estate planning and create a secure foundation for the future. Trust us to guide you through every step with expertise and compassion.
Whether you are transitioning your family structure or preparing for retirement we can help you. We will provide a holistic approach to review all aspects of your estate, your concerns, answer your questions, and make informed decisions for the path ahead.
A will is a legal instrument that distributes your assets at death. It may be prepared while you are living; but typically, you will have to die in order for it to take effect. It has no power to protect you during life, like a living trust can.
In Florida we have the Florida Intestacy Statute. It dictates who will inherit your property should you die without a will. Does that sound like something you can put your trust into? Do you need an attorney so your wishes will be honored? Yes.
A will requires the assistance of a court-supervised probate to distribute assets after death. The primary reason people avoid using wills is due to time and high costs required for probate. To determine if a will may be more appropriate than a trust, you should carefully discuss your particular circumstances and preferences with your Seminole attorney, Bailey Legal Group, your estate planning attorney. Remember, if you die without a will, you will leave important decisions up to a local court and Florida’s laws. You will not have a say.
In situations where a person is no longer able to provide informed consent, a living will specifies a person’s wishes regarding their medical treatment.
Living wills are urgently needed by people who are terminally ill or about to undergo surgery. Your physicians will rely on your closest family members (spouse, children) if you become incapacitated due to illness or injury and cannot make your own decisions.
Even if you are a healthy individual with an upcoming ‘routine’ surgery, complications may arise, and don’t wait until it is too late for your wishes to be known about your medical treatment.
A living trust is not a will. A living trust allows you to transfer title to your assets to a trustee, who will then manage those assets for you during your lifetime.
By transferring title instead of outright giving the assets to someone, you maintain control over your finances while still allowing the trustee to take care of them if you become incapacitated. In the event of incapacity, a durable power of attorney is also assigned by which you can authorize another person (or persons) to handle these decisions on your behalf.
Trust administration is the management of the assets that exist within a trust. A trust is created when an individual (known as a settlor) places their assets into the care of a third party (known as the trustee) for the benefit of someone else (known as the beneficiary).
Trust administration in Florida is the legal process in which a successor trustee of a living trust carries out the trust document’s instructions after the trust maker’s death, and the tasks associated with managing the assets, distributions, and filings of a trust. The tasks can often be quite complex and time sensitive.
A Florida durable power of attorney represents a way in which an individual, or principal, can have someone act for them with regard to their finances and other areas of life.
A durable power of attorney can, in addition to handling all financial decisions, authorize medical care. That includes consent to proceed with or terminate all medical and surgical procedures on your behalf, including an agreement that falls under the Life-Prolonging Procedures Act of Florida.
Florida Statute 765.202 Designation of a health care surrogate. —
A health care surrogate designation is a legal document that appoints a person to become your “surrogate” if you become incapacitated. (Incapacity is defined as the physical or mental inability to manage your affairs.)
It’s best to consult an Attorney who specializes in these areas of the law for guidance and help in properly preparing the documents that you will need to make your end-of-life wishes known.
Florida probate is the process by which your estate is transferred to your beneficiaries and heirs after you pass away.
Our Seminole Probate Attorneys have years of experience with the probate courts in Florida. Our ability to perform critical tasks ensures your assets are distributed according to your wishes as stated in your will or trust, they can deal with banks, investment firms and other financial institutions that are not covered by a beneficiary designation and they can help with estate tax planning during this process.
Most people don’t understand that Florida law requires probate of their estate after death. If you pass away owning assets in your name individually or as a member of a certain group of people, such as a married couple, then a probate proceeding will be necessary.
If you own assets and have not designated a beneficiary on any of them, or if you pass away without a Florida Will, probate is necessary. Probate can happen in one of two ways: (1) intestate succession, which is when no distribution scheme was included in your will and there are no beneficiaries listed on your assets; or (2) under an existing valid Florida Will.
With over 30 years of experience helping injured parties, Bailey Legal Group can handle the legal elements of your
case while you focus on feeling better. Bailey Legal Group understands that auto accidents cause families enough financial hardships and because of that, we work entirely on a contingency fee basis.
We’re dedicated to providing you exceptional representation. We are here for you.
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