Page 37 - Southern Exposure- March '20

Southern Exposure, Page 37

elder esTaTe planning

Estate Planning Is Like Building A Snowman

Submitted by Anné Desormier-Cartwright, Esq.

delays and costs that accompany the probate proceedings to make financial decisions for you even if you are fully capable
A complete estate plan required when you use a will. Trusts also provide your family of making these decisions. In other words, the documents to
must include certain essential with more privacy than a will—as your will becomes part of a appoint your agent to stand in your shoes immediately upon
parts. In fact, it is similar public record once it is admitted to probate and can be viewed signing the document. Therefore, the agent you appoint must
to building a snowman in by anyone. Certain types of trusts can also be used to protect be a trusted individual. If you do not have a financial power of
some respects. The traditional your money and property not only from being accessible to attorney, your family, including your spouse in some instances,
snowman has several critical satisfy the claims of your future creditors (including a divorcing will likely have to go to court to be granted the authority to
components: bottom, middle, spouse), but also those of your beneficiaries. These are only handle your financial affairs. The person the court appoints
and top snowballs, as well some of the benefits that a trust can provide as the bedrock of to this role may not be the person you would have chosen to
as “arms” and a “face.” If your estate plan. handle your financial matters. You can do your family and
any of these are left out, the Step 2: Form A Solid Core — The Health Care Power Of loved ones a huge favor by making sure you have named an
snowman can look a little Attorney agent to step into this role, avoiding unnecessary delays or
odd! The consequences of Additional strength and stability are provided by the disputes.
an incomplete estate plan are much more serious, however. snowman’s middle snowball. You can similarly solidify your Don’t Give Us The Cold Shoulder — Call Us Today
If you leave out important documents when you create your estate plan by executing a health care power of attorney that Without a complete estate plan, you are skating on thin
estate plan, it is unlikely to accomplish all of your goals, and names a trusted agent who can make medical decisions on your ice. Make sure your estate plan has more than a snowball’s
the benefits you thought you were gaining could melt away. behalf if you cannot make them for yourself or are unable to chance in the tropics of accomplishing your wishes. As
This article discusses the trust and health care power of communicate them to the relevant health care providers. Your experienced estate planning attorneys, we can help you create
attorney and financial power of attorney. Part 2 discusses living agent is bound, to the greatest extent possible, to make the a comprehensive plan without being snowed under by all of
will, funeral instructions and ethical will or letter of instruction. decisions you would have made if you had been able to make the details necessary to address your unique circumstances.
Step 1: Shape A Strong Foundation — The Trust them yourself. By appointing someone you trust to act on your Don’t wait for a cold day in July — call us today to set up a
The foundation of a snowman is the large snowball at the behalf and making sure they have important information, such meeting!
bottom that acts as its base. Likewise, a trust is the foundation as your preferred providers, medical conditions, treatment and If you have questions about this article or your estate plan
of your estate plan. It enables you to name a trusted individual medical history, medications, allergies, and religious beliefs, and what documents are necessary schedule a consultation
as co-trustee or successor trustee to carry out your wishes upon you can gain substantial peace of mind. A comprehensive today by calling our office at (561) 694-7827, Anné Desormier-
your death and to manage your affairs if you become so ill estate plan describes not only what happens to your money Cartwright, Esq., Elder & Estate Planning Attorneys PA, 480
you cannot do it yourself. Using a trust, you can specify that and property when you die, but also how your care should be Maplewood Drive, Suite 3, Jupiter, FL 33458.
distributions from the trust be made to your beneficiaries for handled during your lifetime. The content of this article is general and should not be
specific purposes, e.g., college tuition or health care expenses, Step 3: Cap It Off — The Financial Power Of Attorney relied upon without review of your specific circumstances by
or at a certain age. Trusts are often used to ensure that your The third step in building a snowman is adding the snowball competent legal counsel. Reliance on the information herein
money and property benefit your own family, rather than, representing the “head.” Although it is typically smaller is at your own risk, as it expresses no opinion by the firm on
e.g., the new family of a spouse who eventually remarries. In than the snowman’s middle and lower sections, it is no less your specific circumstances or legal needs. An attorney client
addition, trusts provide a means to pass on your money and important. In an estate plan, another essential document is a relationship is not created through the information provided
property to your family and loved ones without the inevitable financial power of attorney. It authorizes someone you choose herein.

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