There are many different reasons why an adult in Florida may require a guardian to help manage his or her affairs. Therefore, it stands to reason that what a ward needs from his or her guardian may vary. If your ward is only slightly incapacitated, it does not necessarily make sense for you to assume complete authority.
Trusts can be an extremely powerful and useful tool for estate planning, potentially saving your surviving family members from the lengthy and often expensive process of probate. However, you may be reluctant to create a trust because of a perceived stigma. At the Law Offices of Frye & Vazquez, we believe that the stigma may stem from a lack of understanding that causes misconceptions in the public.
As a resident of Florida, you have multiple options available for how you can have your assets handled after your passing. Naturally, you wish to ensure that your loved ones have as little trouble as possible when dealing with matters of said assets. We at the Law Offices of Frye & Vazquez, P.L., are here to help by explaining some of the benefits a living trust may provide you with.
Many people in Florida do not need to worry about their survivors paying estate tax after they die because they do not possess property/assets of sufficient value. However, if you are someone whose family members may be subject to an estate tax after you are gone, you need to understand how the Internal Revenue Service classifies your assets.
If you suspect that an elderly loved one in Florida is enduring abuse at the hands of a guardian, it is important to take action right away. Unfortunately, the signs of mistreatment can be very subtle and difficult to spot. They may take the form of behavioral changes, especially if the abuse is not physical in nature.
A diagnosis of dementia limits your ability to make an estate plan in Florida. Your estate planning documents are likely to face a challenge if there is a question of whether or not you were of sound mind at the time that you drafted them. For this reason, it is a good idea to start your estate planning early.
Estate planning is about more than deciding what will happen after you die. You also need to decide what happens if you become incapacitated or disabled. At the Law Offices of Frye and Vazquez, we know that no one in Florida wants to think about the possibility of disability or incapacity. Nevertheless, thinking about and planning for it is an aspect of estate planning at least as important as making out a will. It may even be more important because it could affect you directly in the future, while your will only affects those you leave behind.