Estate Planning Essentials for Residents in the Bonita Springs Area
Southwest Florida attorneys can help you gain the peace of mind you deserve
Whether they’re super-wealthy or just getting by, people want to protect their property and decide who should receive it after they’re gone. These two objectives form the core of sound estate planning. At Lyons & Lyons, P.A., we create wills, trusts and powers of attorney to help Floridians safeguard their assets and distribute those assets efficiently to their intended beneficiaries. We can develop an overall strategy tailored to your circumstances and preferences. Our firm has offices in Bonita Springs, Naples and North Port to serve clients throughout Southwest Florida.
The role and importance of a will
A will may be the first thing that comes to mind when estate planning is discussed. Your last will and testament covers any property that is not otherwise addressed and ensures that your wishes will be honored. While you might choose a different vehicle as your primary means of transferring assets, you should always have a valid will in place. Otherwise, assets will be given to family members based on Florida’s intestacy law instead of your instructions. We will guide you in designating an appropriate executor and making clear bequests so that disputes are less likely to arise among potential heirs.
How trusts can help you accomplish your goals
Trusts are versatile instruments for leaving a legacy to the people you want. Revocable living trusts are popular with people seeking to give assets to loved ones without them having to go through probate. Parents of sons and daughters with special needs might opt to place property in a trust to provide them with lasting means of financial support while maintaining their eligibility for government benefits. Our attorneys can establish an irrevocable trust based on whatever you want to achieve, from lowering your tax exposure to funding a charitable cause to protecting your assets from creditors.
Preparing for possible incapacity
Thorough estate planning involves more than dispersal of property upon one’s death. If you become incapacitated due to an injury or illness, having an enforceable plan in place can prevent emotional conflict and significant financial loss. You can execute a power of attorney to give someone you trust the legal authority to make financial and/or personal care decisions on your behalf. To plan for end-of-life situations, you can draft a living will that sets forth the types of life-prolonging measures that you want and don’t want to be taken. An advance healthcare directive can address these issues in situations where your condition is not terminal but you are unable to communicate.
The importance of updating your estate plan
Due to changes in circumstances, your original estate planning instructions might no longer reflect your current wishes. This may be because you’ve recently been married or divorced, have experienced a substantial financial shift or have become a parent. Periodic reviews of wills, trusts, powers of attorney and other documents can avoid potential problems caused by outdated language. A qualified lawyer at our firm can make sure that your estate plan continues to state your intentions accurately and that the individuals you designate as your executor, trustee or agent are still up to the job.
Contact a Florida estate planning attorney to learn how we can help you
Lyons & Lyons, P.A. advises Southwest Florida residents in a full range of estate planning matters, including the preparation of wills, trusts and power of attorney documents. Please call 239-948-1823 or contact us online to schedule a consultation at either our Bonita Springs, Naples or North Port office.
