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Everything has a cost, including peace of mind. So, what is an estate plan, and how much does it cost in Florida? Keep reading to find out!All Estate Plans Are DifferentBefore putting a price on their estate plan, its important to understand that not all estate plans are created equal. All estates are different, and you may need more or less insurance for the future, depending on the number and value of your assets.There are also no set fees for estate plans, and in most cases, the final amount is based on your attorneys rates and additional services you may require. Law firms have different programs and services to offer, so its important to research attorneys to find out which firm is right for you.Thankfully, estate plans are for everyone not just older people. Young families, single people, and high asset holders may have different needs and require a unique plan tailored to their goals. For example, a young couple with small children may need a plan that includes a guardianship clause, while an older single person may want to establish a trust for their grandchildren.Estate Planning BasicsThe purpose of an estate plan is to preserve your wishes and protect your assets after death. A basic estate plan includes a will, durable power of attorney, a living will, and a designation of health care surrogate. Depending on your unique needs, you may want to include a trust or designate specific beneficiaries to inherit your assets.WillsA will is a document detailing how and to whom your assets will be granted, in addition to naming the executor. An executor is a person selected by you who will carry out the will and act on your behalf after death. However, executors are not necessarily the same as a durable power of attorney.Executor and Power of AttorneyWhile executors handle affairs after death, the durable power of attorney handles the estate while you are alive. A power of attorney can act on behalf of the person if they cannot make decisions independently. For example, a power of attorney may make deposits or withdrawals from your bank account and make other financial decisions.Designation of a Health Care SurrogateFlorida also requires the designation of a health care surrogate. Essentially, a health care surrogate is the person you authorize to make medical decisions on your behalf. This individual can step into their role if you are no longer physically able to make crucial decisions on your own.A health care surrogate may be anyone 18 or older who is willing and able to make medical decisions for you. You must get their consent before designating them as the health care surrogate in your will. In most cases, individuals select their spouse or children as the surrogate, but parents, relatives, siblings, and close friends may also qualify for the position.Tips for Creating an Estate Plan in FloridaIf you are considering an estate plan, there are some important points to keep in mind.Tip #1: Before you get started, ask yourself, what do I want my legacy to be? This question can guide the entirety of your plan and provide a clear picture of your goals to your attorney.Tip #2: Select a person you trust as an executor/power of attorney/health care surrogate. Its crucial that you choose a person capable of making rational and ethical decisions on your behalf. Whether you choose a spouse, child, parent, friend, or social worker (in some cases), never pick a person at random or because you feel obligated to choose them.Tip #3: Provide documentation of all assets. You must provide extensive documentation of your assets to ensure that your plan covers the entirety of your estate. The more detailed the estate plan, the more efficient it will be to execute after death. Additionally, it is more difficult to argue with an estate plan that is watertight and extremely detailed.Tip #4: Ask questions! Estate plans are complex, so its important to ask big questions at the start to avoid confusion down the road. Plus, your attorney can make adjustments to your plan if things change.Tip #5: Dont wait to make a plan. Most people consider estate plans to be targeted towards older adults, but the earlier you make a plan, the more tailored it can become over time. Most estate plans are relatively flexible and can be edited as you grow older, start a family, or relocate. An estate plan that grows with you is a more accurate representation of your wishes.Never attempt to make an estate plan on your own. Wills, designations, trusts, power of attorney, and health care surrogate selections are legally binding documents that require careful oversight and knowledge of the law. Need an estate plan? Our attorneys can help.Put Your Legacy in Good HandsAt Dorcey Law Firm, we believe that you shouldnt have to be afraid of the future. We work with you to create an estate plan that incorporates what matters most and the necessities so your plan can be custom fit to your needs. Our firm also offers an Auto-Pilot Planning Program so you can put your legacy on cruise control. The Auto-Pilot Planning Program is a guiding, planning, and monitoring solution to your estate planning needs.When you join, you gain access to:Our teamEducational opportunitiesAsset review and trackingContinuous fundingCollaboration with financial advisors and insurance professionalsFamily care meetingsEstate planning document updatesYour estate plan should be an accurate representation of your wishes. With our team on your side, you can protect your legacy and provide for your loved ones even after death. Our compassionate legal team provides thorough legal counsel and guidance so you can face the future with confidence.Ready to put your future in good hands? Schedule a FREE consultation with Dorcey Law Firm today!

Trusts are valuable tools in estate planning that offer flexibility, control, and asset protection for both your beneficiaries and yourself. In this informative blog post, we will explore various types of trusts, their distinctive features, advantages, and common applications. Gaining knowledge about these trust variations will enable you to make well-informed decisions when crafting your estate plan.Revocable Living Trust:A revocable living trust grants you control over your assets throughout your lifetime, ensuring seamless management and distribution in the event of incapacity or death. It provides privacy, avoids probate, and allows for flexible adjustments to the trust provisions.Irrevocable Trust:Once established, an irrevocable trust cannot be altered or revoked without the beneficiaries' consent. It offers potential tax benefits, safeguards assets, and can serve charitable purposes or manage assets for future generations.Testamentary Trust:A testamentary trust comes into effect upon the testator's death and is created within a will. It enables asset management and distribution to designated beneficiaries, often protecting assets for minors, individuals with special needs, or controlling gradual distributions.Special Needs Trust:Designed to support individuals with disabilities without affecting their eligibility for government benefits, a special needs trust ensures that trust assets supplement public assistance programs instead of replacing them.Charitable Trust:Charitable trusts allow you to contribute to causes you care about while potentially receiving tax benefits. These trusts can provide ongoing support to charitable organizations or establish scholarships, grants, or endowments.Asset Protection Trust:An asset protection trust safeguards your assets from potential creditors, lawsuits, or financial risks. These trusts are commonly utilized in jurisdictions with favorable laws, offering an additional layer of protection for your wealth.Dynasty Trust:A dynasty trust is created to preserve wealth for multiple generations, helping to avoid estate taxes and keep assets within the family. It promotes long-term financial security and establishes a lasting legacy.Contact Our Trust LawyersUnderstanding the various types of trusts empowers you to tailor your estate plan to your unique circumstances and aspirations. It is advisable to consult an experienced estate planning attorney to determine the trust or combination of trusts that best aligns with your needs. Remember, estate planning is a complex matter, and seeking professional guidance is crucial.

In Florida, property taxes can be a significant financial obligation for homeowners. Fortunately, the state offers various property tax benefits, exemptions, and discounts to eligible residents, including the elderly and disabled.Property tax benefits are designed to reduce the financial burden on eligible residents and provide them with relief. These benefits can result in significant savings on annual property tax bills. Keep reading to learn more about the different types of tax benefits available in Florida, how to qualify for property tax benefits, and how an experienced estate planning attorney can help you navigate any legal complexities throughout the process.Who Qualifies for Property Tax Benefits in Florida?How can elderly or disabled homeowners maximize their benefits and leverage property tax discounts for their Fort Myers estate? Its crucial to understand the options available for their estate to take advantage of any benefits they might be eligible for. In Florida, property tax benefits offer substantial financial relief to homeowners, especially those who may be perceived as disadvantaged or vulnerable, such as senior citizens and Floridians with permanent disabilities.In Florida, property tax exemptions and discounts can apply to the elderly and disabled populations, providing them with the deserved opportunity to live a full and comfortable quality of life. There are various key benefits and exemptions, each with its own eligibility criteria, as seen below:Florida Homestead Exemption  This is the most common exemption. It can decrease the taxable value of your primary residence by as much as $50,000, resulting in lower real estate taxes. Any person who has legal or equitable title to real property in Florida and in good faith makes it their permanent home is eligible for this exemption.Veteran's Disability Exemption  Eligible resident veterans with a VA-certified service-connected disability of 10 percent or greater are entitled to a $5,000 property tax exemption.Senior Citizen Exemption  Property tax benefits are available to persons 65 or older in Florida. Seniors may qualify for an extra exemption for an additional $50,000 of home value.Widow/Widower Exemption  Starting January 1, 2023, a $5,000 exemption is available on property owned by a widow/widower who is a permanent Florida resident.These exemptions can significantly lower the taxable value of a property, ultimately reducing the amount of property tax that needs to be paid. For elderly and disabled individuals, these benefits can make a big difference. Lower property taxes can help them maintain their homes and manage living costs, especially on fixed incomes.Property Tax Benefits for Seniors (65+) in Fort MyersTo qualify for property tax benefits based on age, individuals must meet the following criteria:Age Minimum  The homeowner must be at least 65 years old as of January 1st of the application year.Florida Residency  The homeowner must be a permanent resident of Florida.Property Ownership  The homeowner must own and occupy the property as their primary residence.To qualify for property tax benefits, elderly applicants should be prepared to provide supporting documentation or other evidence of their eligibility, including proof of age (such as valid identification documents like birth certificates, drivers licenses, or passports) and proof of residency (such as a license or voter registration card).Property Tax Benefits for the Disabled in FloridaTo qualify for property tax benefits based on disability, individuals must meet the following criteria:Have a Permanent Disability  The homeowner must meet the definition of disability under the law as determined by specific state guidelines.Florida Residency  The homeowner must be a permanent resident of Florida.Ownership  The homeowner must own and occupy the property as their primary residence.To qualify for property tax benefits based on disability, individuals must provide documentation proving their disability. While exact documentation can vary on a case-specific basis, common types of acceptable documentation include:A medical certification issued by a licensed Florida physician that certifies the disability and its permanence; andProof of Social Security Disability (SSDI) benefits.How an Experienced Estate Attorney Can HelpHiring a trusted probate and estate planning attorney can mean the difference between safeguarding your livelihood and missing out on the substantial tax benefits you rightfully deserve. A qualified lawyer can assist elderly and/or disabled Floridians with property tax benefits, discounts, and exemptions by:Clarifying legal conditions, terms, and procedures: Tax laws are complex and continually changing. A qualified lawyer stays updated with these changes and can help you understand how they apply to your situation.Identifying all tax benefits that clients may qualify for: Without a comprehensive understanding of Floridas tax laws, its easy to overlook certain benefits that may have saved you substantial costs. An experienced attorney can identify all the property tax benefits for which you may be eligible. This not only includes the well-known homestead exemption, but less commonly known benefits as well, such as those related to disability, age, and veteran status.Navigating intricate legal processes and procedures: Applying for property tax benefits involves filling out forms and providing necessary documentation. An attorney can guide you through this process, ensuring that you submit everything correctly to avoid delays or denials.Negotiating effectively if any disputes arise: If any disputes come up while applying for tax benefits that you rightfully qualify for, your legal representative negotiate effectively on your behalf and work to resolve them. A qualified attorney can communicate with opposing parties and represent your interests in court if necessary.Integrating property tax discounts into your overall estate plan: Property tax considerations can and should be integrated into your broader estate plan to avoid any hiccups later on. Your attorney can help ensure that your estate planning strategies align with your property tax situation to maximize your overall financial benefit, protecting you and your loved ones for years to come.Restoring your peace of mind: Knowing that a professional is handling your property tax matters can provide significant peace of mind. You can be confident that you're receiving all the benefits to which you're entitled, without having to navigate the complex world of tax law on your own.By hiring a trusted estate planning attorney, disabled and elderly property owners can safeguard their Fort Myers estate, simplify the legal process significantly, and ensure that theyre receiving all of the benefits theyre eligible for under the law.Compassionate Counsel for Fort Myers Estate PlanningAt Dorcey Law, our accomplished Fort Myers probate and estate planning attorneys have extensive experience representing Florida families from many diverse walks of life. From asset protection to Medicaid crisis planning, our compassionate firm has the in-depth knowledge and skillset to prioritize your unique needs and ensure that your loved ones are taken care of for years to come. Dont wait to take charge of your familys future. Reach out today to learn how we can restore your agency and peace of mind.Our firm can restore your peace of mind by ensuring that your loved ones are taken care of. Call (239) 309-2870 to request a free consultation.

For more information on The Dorcey Law Firm, Click here.When caring for a loved one or preparing your own plan for the future, it's important to understand what options are available to you. Keep reading to learn more.What Is a Power of Attorney?Power of Attorney or POA is a document that gives one person the legal right to oversee and act on behalf of another. POAs can make financial, medical, and property decisions depending on the document's level of authority.Most often, a power of attorney is used to help make medical decisions if a person cannot make them for themselves. It's also important to note that a POA can be terminated if necessary. There are several types of POAs beyond a traditional durable power of attorney.Limited Power of AttorneyWhen an individual needs help taking care of necessities like bills, investments, taxes, etc., a limited POA allows the caregiver to manage these matters within parameters defined in the order. Limited POAs are always limited in time and authority.For example, your grandparent is still in good physical health, but they've become more forgetful and can no longer pay bills or handle their finances. A limited POA would give you the ability to make those decisions for them. If they receive treatment or recover their cognitive abilities, the POA would end.Durable Power of Attorney (DPOA)If you need to set up a longer-lasting order, a durable power of attorney may be a better choice. DPOAs can make financial decisions and manage things on behalf of the principal, but they cannot make healthcare decisions like taking the person off of life support or agreeing to therapies, treatments, etc.You can also choose to set up a healthcare-specific DPOA or a financial DPOA where the agent only makes medical or financial decisions on behalf of the principal. In most cases, it may be beneficial to set up a medical and financial DPOA.Keeping the two matters separate ensures that the person elected to power of attorney is overwhelmed, and it's also a good idea to avoid putting your eggs in one basket. Having different people serve in a POA role can also work as a system of checks and balances. The medical DPOA can't make decisions that would take excessive funds without the permission of the financial DPOA and vice versa.General Power of AttorneyThe most versatile POA is the general power of attorney. If you're a GPOA, you can perform almost any act on behalf of the person in your care. However, it's important to understand that should the principal pass away or become incapacitated, the power is revoked.Springing Power of AttorneySome states allow you to set up a "springing" power of attorney that becomes active if a specific event occurs. For example, suppose the principal is a military service member. In that case, the springing POA agreement may state that the powers come into effect if the principle is harmed or incapacitated while deployed.Of course, there are many applications for a springing POA, so always talk to an estate planning lawyer about your options.Choosing the Right Power of AttorneySometimes having too many choices can be worse than having none at all. While it's probably overwhelming to consider the different types of POAs you can establish, speaking to an estate planning attorney can give you peace of mind.At Dorcey Law Firm, we provide trusted guidance tailored to your specific needs. From the power of attorney documents to creating an overall estate plan, our team can help.We understand how frustrating it can be to figure out the best plan for you, which is why we work with you to understand your goals, work out a plan, and draft the necessary documents that can give you peace of mind.

What Types of Senior Care is Available for Veterans?     The U.S. Department of Veterans Affairs offers some funding programs that can help offset the cost of some types of senior care.U.S. News & World Reports recent article, Veteran Benefits for Assisted Living, explains that many senior living companies try to help many veterans maximize their benefits, which in some cases can significantly reduce the cost of senior living.Note that the VA wont pay for a veterans rent in an assisted living facility. However, VA benefits may pay for some of the extra services required, like nursing assistance, help with bathing and toileting, and possibly meals.There are a variety of benefits that may help, based on a vets specific service history and eligibility. The most commonly used benefits are the Aid & Attendance Pension. Another common benefit is the Survivors Pension for spouses of a deceased veteran with wartime service.The VAs Aid & Attendance and Housebound program is part of the pension benefits paid to veterans and survivors. The VA says these benefits are paid, in addition to monthly pension. A vet must satisfy one of the potential conditions, including:Requiring the aid of another person to perform personal functions, like bathing, dressing, eating, toileting, or staying safe from hazards;Being disabled and bedridden, above what would be thought of as recovery from a course of treatment, such as surgery;Being a patient in a nursing home due to physical or mental incapacity; andHaving very poor eyesight (5/200 corrected visual acuity or less in both eyes) or a field of vision limited to five degrees or less.Vets may qualify for these benefits, which are added to the standard monthly pension, when he or she is substantially confined to your immediate premises because of permanent disability, the VA says. Eligibility for the program is based on a case by case basis and involves a review by the VA.Its important to begin the application process early, rather than waiting for a crisis to occur. Ask an experienced estate planning or elder law attorney to help you and to discuss your options.It is our goal to provide our clients with the highest level of legal services in the areas of Last Will and Testaments, Living Trust, Irrevocable Trusts, Estate Planning, Asset Protection, and complete Business Planning. If you or someone you know needs information on Florida estate planning, please contact us today at (239) 309-2870 to schedule your free consultation.Reference: U.S. News & World Report (August 12, 2019) Veteran Benefits for Assisted Living

Estate planning is complicated, but a well-thought-out plan can give your loved ones peace of mind and provide for them long after you are gone. However, there are some common mistakes families make when planning for the future. Keep reading to find out more about the 12 most common estate planning mistakes and how you can avoid them.Mistake #1: Not Having an Estate PlanThe most broad and common issue occurs when people neglect to draft a plan at all. Not only does a failure to do so jeopardize your assets, but it also can jeopardize your loved ones. A common misconception is that estate plans only protect money when in actuality they can do so much more.Mistake #2: ProcrastinatingWhile its important to start your estate plan when you can, procrastinating is a mistake. Waiting too long to establish your plan can mean that documents get lost, assets lose value, or time itself becomes a hinderance to your health and ability to complete the plan. Its imperative that you consider your future as soon as possible.Mistake #3: Attempting to Plan Around AssetsHowever, while its important to create a plan in a timely manner, its dangerous to start in the wrong place especially if you decide to shape your plan around specific assets. Getting too specific can mean that you miss the fact that those assets are temporary. For example, you may not retain season tickets for the duration of your life. That is why it is crucial to include language pertaining to a variety of assets especially those that last.Mistake #4: No Asset LiquiditySimilarly, to the importance of keeping durable assets in mind, ensuring that some or all of those assets are liquid is crucial. When assets have liquidity, they can be divided and are typically more accessible. This means that your loved ones are able to divvy up assets according to your wishes. Asset liquidity is also important for business owners.Mistake #5: Forgetting Digital AssetsIn the digital age, assets can take all shapes and forms. However, its easy to lose track of them over time. As mentioned previously, time is of the essence when drafting an estate plan to prevent this issue from occurring. Either way, you must keep careful records of all digital investments including passwords, digital wallets, and more.Mistake #6: Not Considering Tax Implications for Inherited PropertyWhen considering assets, most people forget to consider taxes. Its easy to assume that taxes you pay on property while alive simply disappear, but that could not be farther from the truth. Not only are there taxes on assets themselves, but estate taxes could also apply.Mistake #7: Failure to Consider IncapacityIts hard to imagine making a will while youre in the prime of life, but as weve mentioned previously, its crucial that you consider the future now. As we age, we become more susceptible to physical challenges incapacitating factors. If a will is drafted and signed while incapacitated, it may not be legally binding.Mistake #8: Not Planning for Disability or Long-Term CareSimilarly, many people neglect to plan for or include allowances for disability or long-term care. There are standard procedures for this including establishment of a Power of Attorney and health care representatives, but its crucial to account for end-of-life costs like disability and long-term care.Mistake #9: Neglecting to Select a Power of AttorneyAs mentioned in the previous section, many people forget to select a Power of Attorney and/or health representatives. The Power of Attorney is responsible for overseeing the execution of the will and in many cases, making critical decisions on your behalf. Healthcare representatives are chosen to make medical decisions on your behalf. Whether one person or more than one is selected for these positions, it is of vital importance that they be trusted individuals with your best interests in mind.Mistake #10: Not including Funeral and Burial WishesIn some cases, people verbally inform their loved ones of their burial wishes and consider the issue resolved. However, simply telling your wishes to a loved one may not be enough. Funerals are challenging logistically and financially and neglecting these concerns in the estate plan can create problems for family members trying to settle the estate.Mistake #11: Not Updating Your Estate PlanFor those with an existing estate plan it may seem redundant to update it. However, nearly all of the mistakes mentioned in this blog could still happen even if there is already a rudimentary plan in place. The truth is things change whether they be people or assets and the only way to soften the blow is by preparing for these changes in advance.Mistake #12: Not Hiring an AttorneyEstate planning is complicated, but it doesnt have to be. Most people turn to an attorney if theyre facing legal trouble like criminal charges or a lawsuit, but the practice of law applies to estate planning as well. An estate attorney knows how to apply the law to your specific circumstances and can guide you to the right estate planning methods for you. They can also help you keep your plan up to date.How To Avoid Estate Planning MistakesThe best way to avoid estate planning mistakes is by enlisting the help of an attorney. Its easy to forget a detail that could greatly impact you and your family. With the help of our experienced attorneys at Dorcey Law Firm, you can plan for the future with confidence. We take care of the legal complexities so you can have peace of mind.Contact our attorneys today for more information.

A living trust is a vehicle for transferring your assets to heirs and beneficiaries after your passing. You can fund your trust with various pieces of property, including your home. But is it a good idea to put your house into a trust? The answer depends on your current situation and goals for your future. That said, in this blog, we will discuss some of the advantages and disadvantages of putting your home in a trust.At Dorcey Law Firm, our Fort Myers team is here to talk in-depth about the avenues available to you for protecting your estate. Please contact us at (239) 309-2870 today.What Does a Living Trust Do?Before explaining the advantages and disadvantages of putting your home in a trust, lets first review what this vehicle is. A living trust allows you to specify to whom you want your property to be distributed after your death. It enables you to assign someone as a successor trustee who manages your assets should you become incapacitated.When you invest property into your trust, including your home, it is funded in the name of the trust, but you dont lose control over it. As a trustee, you can continue to manage your assets as you would had they not been placed in a trust.The Advantages of Putting Your Home in a Living TrustTwo significant advantages exist to putting your home in a trust. It prevents your heirs from going through the probate process when distributing the asset. It also ensures that your property is managed appropriately if you cannot do so yourself while you are living. Lets explore both of these a bit more.Avoiding ProbateProbate is a legal process through which a persons estate must pass upon their death before the property is distributed to heirs and beneficiaries. If the decedent has a valid will, their assets will be distributed accordingly. Otherwise, the distribution is done according to state laws. Probate is required when a person has a will or dies intestate (without a will). It is not necessary when a persons assets were invested into a living trust.By putting your home in a living trust, you can:Save time: Probate is lengthy. Depending on the size of the estate and whether issues arise, it can take 6 months or more. Generally, with a living trust, assets can be transferred to heirs rather quickly. It takes substantially less time than it does for property to go through probate.Save money: Because probate is a legal process, various fees may arise, such as the cost of an attorney or other experts. With your home in a living trust, you can help your heir avoid hefty legal fees.Keep your matters private: When an estate goes through probate, the process details are public record. That means anyone can get information about the size of your estate. If you have a living trust, details about your assets remain private.Protecting Your HomeWith a trust, you name a successor trustee. The individual steps in not only to pay debts and distribute your property upon your passing; they can also manage your assets if you cannot do so yourself because of incapacitation.Putting your home in a living trust gives you peace of mind knowing that someone you can depend on will take care of your house. Without a trust, the court may name a guardian to manage your estate. The individual they appoint might not be someone you feel comfortable taking care of your property.Disadvantages of Putting Your Home in a TrustPutting your home in a trust has a couple of disadvantages. You must complete paperwork and sign a new deed to ensure that your house is appropriately funded into it.Additionally, you will incur certain costs to set up and maintain your trust.What Path Should You TakeUltimately, the decision of whether to put your house in a trust depends on your goals. One of our Fort Myers attorneys can help you fully consider the pros and cons and discuss the various options for managing your estate. By answering your questions and addressing your concerns, we can help you make informed and confident decisions about your path forward.To schedule a free consultation with Dorcey Law Firm, please call (239) 309-2870 or submit an online contact form today.

Keeping your estate plan current is essential. An up-to-date will, trust, or other document ensures that your wishes are articulated and can be carried out as instructed after your passing or if you become incapacitated. Updating your estate plan is especially important if you move to a new state. Estate laws vary from state to state, which means your existing plan might be invalid or delayed in your new home if it does not comply with statutes and regulations. You might want to consider reviewing your will and/or trust, Power of Attorney, and beneficiary designations. Additionally, you may need to determine how your new location handles things such as marital property.If you've just moved to Fort Myers, Florida, schedule a consultation with Dorcey Law Firm to discuss your estate plan. Call (239) 309-2870 or submit an online contact form today.Why Updating Your Estate Plan Is Important After a MoveMoving to a new state is an exciting life event, but it can come with a lot of logistical updating. One important task to attend to right away is reviewing your estate plan. This critical step should not be overlooked.Your current estate plan likely complies with your former state's laws. Although many states will generally accept the documents created in other states, to ensure that yours remain effective in your new location, you might need to do some updating. This way, you can rest assured that your assets are protected according to appropriate laws.Things to Consider When Moving to a New StateIf you've recently moved, reviewing and updating your estate plan now can save you a lot of stress if something unexpected happens. Generally, it's important to make sure wills and trusts are revised and your advance directive outlines your medical decisions. It is also a good idea to think about the person appointed as your power of attorney.Below are some of the documents and information that may need adjustments after your move:Wills and trusts: If you've changed states, make sure any new assets have been included in your will or trust. This ensures that they are distributed according to your wishes. Similarly, learn how your new state handles marital property and determine whether revisions are needed to reflect your plan for asset distribution. It is also essential to consider whether the person you have appointed as your executor is still appropriate. Would it still be practical for them to handle estate administration after your passing, and does the new state have any additional requirements for appointing executors?Advance directives: Depending on where you're moving, stricter requirements might be in place for granting authority for advance directives. If your current documents don't meet the standards of the new state, there might be delays in the process.Power of Attorney: Although most states recognize Power of Attorneys and health care directives established in other states, updating these documents after your move may be important for practical reasons. You may want to make changes to appoint someone in your new state as a power of attorney as a matter of convenience.Beneficiaries: You'll also want to consider the beneficiary information on your life insurance policies, retirement plans, and pensions. Although the move itself should not affect these details, it can be a great time to double-check that your beneficiaries are on record with your employer and that your personal information is correct.Seek Advice and Guidance from an AttorneyIf you've recently moved or are planning on moving, make sure that your estate plan is kept up to date to ensure that your wishes are properly carried out. With a little effort and research, you can bring your estate plan into compliance with the laws of your new home state. Taking the time to ensure that everything is accurate will give you and your loved ones peace of mind. An attorney can help ensure that everything is taken care of correctly, providing security and confidence in knowing that important matters have been handled appropriately.To speak with one of our Fort Myers lawyers at Dorcey Law Firm, please call us at (239) 309-2870 or contact us online today.

Guiding with Grace Through the Golden YearsA power of attorney (POA) refers to an individual that is able to make financial, legal, or medical-related decisions on behalf of another individual. The title of power of attorney is typically bequeathed upon a beneficiary by an older adult or someone who is not physically or mentally capable of making decisions on their own.A power of attorney must be selected by the individual in need, while they are of sound mind. This is important to note, as a judge may invalidate a power of attorney if undue influence is suspected in the case. As stated by the Florida Bar, two witnesses must be present when signing a power of attorney agreement, and the document must be notarized before it can be deemed valid under the laws of the state.For expert assistance regarding how to get power of attorney for aging parents, schedule a consultation with Dorcey Law Firm today at (239) 309-2870. Were here to help you guide your parents through their golden years with grace.What Type of Power of Attorney Does My Aging Parent Need?The first step before claiming power of attorney over a parent is determining what type will be necessary for your aging loved ones specific circumstances. There are several different types of power of attorney, including:Limited Power of Attorney: this allows the POA to make decisions regarding basic necessities on an individuals behalf (such as taking care of bills, filing taxes, etc.), based on the constricted parameters laid out in the written agreement.Durable Power of Attorney: this allows the DPOA to make decisions regarding finances and basic life management on an individuals behalf; however, they are not able to make life-altering medical decisions for the individual unless explicitly stated within the written agreement. If your parent needs medical and financial power of attorney, you should set up a financial-specific and a healthcare-specific DPOA.General Power of Attorney: this is the most comprehensive example of power of attorney. As a GPOA, you will be able to make almost any decision on behalf of the individual in question. If you are acting as a main caregiver or guardian for your aging parent throughout the end of their life, a GPOA is recommended.Springing Power of Attorney: this is a POA that is selected in advance, under contingencies of certain circumstances. With a springing power of attorney, the POA will only become valid if the circumstances within the written agreement occur (for example, if the individual becomes incapacitated due to injury or disease).Continued Care with Power of AttorneyThe main reason wed like to highlight regarding the importance of power of attorney is that it helps you care for your loved ones when they need you most. Once you know what type of power of attorney would be best for both the needs of your aging parent and yourself, you can begin the process of filing your POA documentation.There are certain state-specific forms that will have to be signed by both you and your parent. For additional assistance, our elder law attorneys at Dorcey Law Firm can help you navigate the process of claiming power of attorney over your loved one. To make the first steps in creating a continued care plan for your aging parent, please dont hesitate to contact us.Expert Legal Assistance When You Need ItBeing assigned as a power of attorney can be an emotional experience for all parties involved. If you have been wondering how to get power of attorney for aging parents, Dorcey Law Firm is a Fort Myers-based team here to help. Contact us at (239) 309-2870 and take the first steps in making sure your loved ones are taken care of throughout all seasons of life.

Having a will in place is one of the most important things you can do to provide for yourself and your loved ones. This plan gives you the clarity, peace of mind, and security needed to ensure that whatever happens in the future, your assets are taken care of and distributed properly.However, it's important to review estate documents often to ensure information is up-to-date and abides by current laws. Taking steps today to make sure all decisions are thoroughly thought out will give you greater control over how assets should be managed in the future.How Often Should a Will be Updated?Keeping your will current with the latest laws is essential for making sure your wishes are carried out. While a good rule of thumb is to review all documents every five years, this timeline should be adjusted in special circumstances. For instance, as you get older, updating your will more frequently may be necessary. Similarly, if you have a significant amount of assets or experience a major life event that could drastically affect your possible decisions down the road, it's important to adjust your will and estate plans accordingly.Life Events That Can Affect Your WillIt is important to remember that if you plan on taking advantage of the protections offered through Florida law, such as those for your children, spouse, and business, you must make sure your will is up-to-date. These protections may not be fulfilled when documents are outdated or not properly maintained because there is no way for companies or the court system to know what should be honored. As such, here are a few events that indicate its time to update your will:New family members: As new members of your family are added through birth, adoption, and marriage, you may want to update your will to accommodate these new members. Keeping this information current will help protections for children and grandchildren stay honored. These protections may include provisions for a family member with special needs or if you decide to provide for a child from a previous marriage.Marriage or divorce: If you would like your spouse to inherit your property, have access to your life insurance, and make end-of-life decisions for you, you must specifically name them in your estate plan. If you have a former spouse that you no longer wish to inherit your assets or make decisions on your behalf, it is best for you to remove them from your plan as soon as possible.Changes in health: If you have been diagnosed with a health condition that may affect your decision-making ability, consider who can care for you if you become incapacitated.Buying a home: If you buy another home, working with an estate attorney can help guide you on how to pass down your property to your loved ones. In addition, if you moved out of state or purchased real estate in another state, you should update your will as soon as possible.How Do I Change My Will in Florida?In Florida, there are two ways to change a will. They include the following methods:Write a new willAmend your current will with a codicilIf you decide to write a new will, your old will must be emphatically revoked. To do so, you must stipulate in your new will that you revoke all previous wills. Or you may also physically destroy the old will and any copies. This can involve burning, shredding, and other methods to destroy the will.Contact Our Estate Attorneys at Dorcey Law FirmAt Dorcey Law Firm, our attorneys are extensively knowledgeable when it comes to will writing and updating. We prioritize our clients concerns and wishes to ensure the well-being of their finances, assets, and personal property after death. We sincerely dedicate ourselves to providing the best service with respect and care to our clients. With Dorcey Law Firm as your partner, you can rest assured knowing that your estate matters are taken care of.Call us at (239) 309-2870 or contact us online to learn more about how to protect your wishes and loved ones.

Protecting Adult Children with Disabilities: One in four Americans has some kind of disability, and an increasing number of children are being diagnosed with some form of autism. The life expectancy for people with Down syndrome has increased from living to age 12 in the 1940s to nearly 60 today. Most children born with cerebral palsy live into their thirties. For parents of these children, it is more important than ever to create a plan and a community, says the article How to build support system for adult children with disabilities from The San Diego Union-Tribune.Financial resources and support services need to be put into place, for when parents are no longer able to provide care. Here are the key points to address:Preserving the childs eligibility for government assistance programs, including Supplemental Security Income (SSI) and Medicaid, through the use of a Special Needs trust. Any amount of money can be placed in the trust, and the funds dont count when determining eligibility. If parents leave money directly to a child, they will lose their ability to get SSI and Medicaid benefits.Start early. A Third-Party Special Needs trust should be set up before the child turns 18. It doesnt need to be funded, but it needs to be created.Be a stickler for the rules. If the child receives SSI, money from the trust may not be used for food and housing, but it can be used for other costs, like therapies that are not covered by Medicaid, or even extras, like a cellphone or vacation. An experienced elder law attorney will be able to help the family with planning and learning the intricacies of these rules.Name a trustee and a successor trustee. Selecting someone to manage the trust on behalf of the child is a critical decision, and not always an easy one. The trustee should be someone responsible who cares about your childs well-being. It could be a sibling, if the relationship is good, or a family member. The person should be younger than the parents, so they will be around after the parents have passed.Open an ABLE AccountAchieving a Better Life Experience account. These are accounts that work in much the same way as a 529 account. They can be established for a disabled person at any time, but the child must have the qualifying disability before age 26. Money from a Special Needs trust can be moved into an ABLE account, and the beneficiary can use it for any qualified disability expense.Prepare a letter of intent or guidance. This is not a legally binding document, but rather a way of sharing information with others about your child: their preferences, routines, comfort levels and wishes. It can also be used to provide information about caregivers, medical providers and others who are a good fit with your child. You may also wish to share information about what and who they dont like. Update the letter every year or two.Power of Attorney. Having a power of attorney for a disabled individual is far more flexible and less costly than a conservatorship or guardianship.Housing options. Where will your child live? That depends on what kind of disability the child has and the familys financial resources. Ideally, the child can transition from the family home to another place while the parents are still living. If feasible, the parents could leave the family home to the child in the Special Needs trust, but theyll also need to leave enough money for ongoing expenses and maintenance of the house. Some disabled adults live in group home settings, where counselors and other staffers help residents live on their own.An elder care lawyer will be able to connect the family with many different resources and help with creating a Special Needs trust.It is our goal to provide our clients with the highest level of legal services in the areas of Last Will and Testaments, Living Trust, Irrevocable Trusts, Estate Planning, Probate, Asset Protection, and complete Business Planning. If you or someone you know needs information on Florida estate planning, please contact us today at (239) 309-2870 to schedule your free consultation.Reference: The San Diego Union Tribune (Jan. 9, 2020) How to build support system for adult children with disabilities

When it comes to estate planning, tax efficiency is a crucial aspect that can significantly impact the value of your assets and the inheritance you leave behind for your loved ones. In this blog post, we will discuss the top 5 strategies for maximizing tax efficiency in Florida estate planning. These strategies will not only help you minimize your tax liability but also ensure that your estate is distributed according to your wishes.1. Utilize the Florida Homestead ExemptionThe Florida Homestead Exemption is a valuable tool for estate planning as it can protect a significant portion of your home's value from property taxes. This exemption can be applied to your primary residence, and it can help you save thousands of dollars in property taxes each year. To qualify for the homestead exemption, you must own the property and use it as your primary residence. You can apply for this exemption through your local county property appraiser's office.2. Make Use of the Annual Gift Tax ExclusionThe annual gift tax exclusion allows you to give a certain amount of money or assets to any number of individuals each year without incurring any federal gift tax. For 2021, the annual gift tax exclusion is $15,000 per recipient. By strategically utilizing this exclusion, you can transfer assets to your loved ones without incurring any additional taxes. This strategy can be especially useful for individuals with large estates that may be subject to federal estate taxes upon their death.3. Establish a TrustEstablishing a trust is an effective way to minimize taxes and ensure that your assets are distributed according to your wishes. A trust is a legal arrangement in which a trustee holds and manages assets for the benefit of one or more beneficiaries. There are various types of trusts available, each with its own tax implications and benefits. Some common trusts used in estate planning include:Revocable Living TrustsIrrevocable TrustsCharitable TrustsSpecial Needs TrustsConsulting with an experienced estate planning attorney can help you determine the best type of trust for your specific needs and goals.4. Plan for Retirement AccountsRetirement accounts, such as IRAs and 401(k)s, can have significant tax implications when passed on to your heirs. It's essential to plan for the distribution of these accounts to minimize taxes and ensure that your beneficiaries receive the maximum benefit. Some strategies for maximizing tax efficiency with retirement accounts include:Designating beneficiaries to avoid probateStretching out distributions to reduce tax liabilityConverting traditional IRAs to Roth IRAsWorking with a knowledgeable estate planning professional can help you navigate the complex tax rules surrounding retirement accounts and implement the best strategies for your situation.5. Consider Charitable GivingCharitable giving can be an effective way to minimize taxes while supporting causes that are important to you. By donating assets to a qualified charity, you can reduce your taxable estate and potentially avoid federal estate taxes. Additionally, charitable donations can provide you with income tax deductions during your lifetime.To maximize the tax efficiency of your estate plan, it's essential to work with a knowledgeable and experienced estate planning attorney who can guide you through the process and help you implement the best strategies for your unique situation. At Dorcey Law Firm, our team of skilled estate planning professionals is dedicated to helping you protect your assets and ensure that your loved ones are taken care of. Contact us today to learn more about our comprehensive estate planning services and how we can help you maximize tax efficiency in your Florida estate plan.

When it comes to estate planning, creating a will is an essential step to ensure that your assets and property are distributed according to your wishes after your death. There are various types of wills available, each with its own unique benefits and limitations. We will explore the different types of wills and their advantages, helping you make an informed decision for your estate planning needs.Types of Wills1. Simple WillA simple will is the most basic and common type of will. It is a legal document that outlines your wishes for the distribution of your assets, property, and personal belongings after your death. A simple will also allows you to name a guardian for your minor children and an executor to manage your estate. This type of will is best suited for those with uncomplicated estates and straightforward wishes.2. Testamentary Trust WillA testamentary trust will is a more complex type of will that involves creating a trust within the will itself. Upon your death, the assets specified in the will are transferred into the trust, which is managed by a trustee. The trustee then distributes the assets to the beneficiaries according to the terms of the trust. This type of will can provide greater control over the distribution of your assets and can offer tax benefits and asset protection for your beneficiaries.3. Joint WillA joint will is a single will that is created by two individuals, typically a married couple. The will outlines the couple's wishes for the distribution of their assets upon the death of the first spouse and the eventual distribution of the remaining assets upon the death of the surviving spouse. This type of will can simplify the estate planning process for couples, but it can also be inflexible, as the surviving spouse may be unable to make changes to the will after the first spouse's death.4. Living WillA living will, also known as an advance directive, is a legal document that outlines your wishes for medical treatment and end-of-life care in the event that you become incapacitated and unable to communicate your preferences. While not directly related to the distribution of your assets, a living will is an essential part of a comprehensive estate plan, as it ensures that your healthcare wishes are respected and followed.5. Pour-Over WillA pour-over will is used in conjunction with a living trust, which is a separate legal entity that holds and manages your assets during your lifetime. Upon your death, the pour-over will directs any assets not already included in the trust to be transferred into the trust. This type of will ensures that all of your assets are ultimately distributed according to the terms of the trust, providing a seamless and efficient estate administration process.6. Holographic WillA holographic will, also known as a handwritten will, is entirely written and signed by the testator (person making the will). Unlike a typical will, it doesn't require witnesses. Its validity and enforceability vary based on local laws. To be considered valid, it must meet legal requirements like voluntary writing, clear expression of wishes, and compliance with jurisdiction laws. Holographic wills can be complex due to the absence of witnesses, raising concerns about authenticity and potential disputes. Consulting an estate planning attorney is advisable to ensure proper execution and minimize legal risks.7. Mutual WillA mutual will, like a joint will, is crafted by two individuals, often spouses. It includes an agreement that neither person can modify the will's terms without the other's consent.Contact Our Will LawyersChoosing the right type of will for your estate planning needs is crucial to ensure that your wishes are carried out and your loved ones are protected. At Dorcey Law Firm, our experienced estate planning attorneys can guide you through the process of creating a will that best suits your unique circumstances. Contact us today to discuss your estate planning needs and learn more about our Types of Wills services.Contact us online or call (239) 309-2870 to arrange a free initial consultation with a Fort Myers wills lawyer that can assist you.

Death can be an uncomfortable and overwhelming subject to discuss, but its vitally important to plan to ensure the future of your assets. If you dont make a will before passing away, the Florida probate code will determine where your money goes after death. Hiring an estate planning attorney or using legal services like those offered at Dorcey Law Firm can help turn this difficult and complex process into a simpler and less stressful one. In this blog post, we will explore what happens to a deceased person's bank accounts in the absence of having made a will and how an attorney can help protect these assets after death.What is A Will, and Why Do People Need One?A will is an essential legal document governing how a deceased person's assets and property should be distributed upon death. It may also outline the decedents wishes regarding their funeral arrangements and property dispersal. Without a will, beneficiaries have no clear indication as to what the wishes of the deceased were. The absence of a will can leave family members or other beneficiaries vulnerable to potential disputes over an estate once its owner is gone. Furthermore, in some states, any property not specifically addressed in a will automatically goes to the state, meaning significant assets may be lost if a will isn't executed properly. To ensure that your wishes are known and respected after passing away, it is important to consider creating a will with help from an experienced probate and estate planning attorney.How to Handle Bank Accounts When Someone DiesWhen you or a loved one dies, their bank accounts and any other financial interests go into limbo until a will is produced or the legal system intervenes. Settling a person's bank account might be more complicated than expected without proper planning. The good news is the situation can easily be managed if the deceased has an up-to-date will and properly assigned beneficiary designations. Having a written document to refer to can make things much easier for family members and executors trying to unwind estate assets.Writing a will is an important step when planning the future of any assets, and allocating your personal property is a major part of your responsibility to those you love. Deciding who will inherit your assets after you have passed away can be a difficult conversation to have. An experienced attorney can help guide you through this process and ensure you have the information needed to best distribute items such as jewelry and other valuable items. Forethought and advanced planning will prevent frustration and confusion from those trying to finalize your estate after your death. When formulating your will, your attorney will help you contemplate any options available to you and help you make an informed decision to protect your assets and your loved ones peace of mind.Everyone can prepare for the inevitability of their own death by creating a will that explains how they would like their assets divided after they are gone. Planning your assets doesnt have to be especially complex. Even if you are dealing with retirement and investment accounts, an attorney can help you create a legal plan. Working with an experienced probate attorney can help ensure your belongings, including any retirement and investment accounts, go where you want them to go. An experienced attorney can provide you with will and probate services to ensure everything is in order before something unfortunate happens. A simple estate plan can prevent the emotional stress and familial turmoil associated with these types of property matters.Wills, Probate, and Estate Administration at Dorcey Law FirmWorking with an attorney to create a will can help you ensure your finances, assets, and personal property are taken care of after your death. Without a will, the court may decide where your money and other possessions go - often not to the people you would have chosen. An estate planning attorney can help you ensure that your wishes are followed as it relates to your finances, belongings, or any gifts you want to be passed down after you die. With proper estate planning from a qualified professional, you can guarantee that your loved ones will receive what you intended for them when the time comes. Death can be emotionally and financially complicated, but having a will in place can make the process much smoother. By understanding the needs of your estate, you can take action to protect it from entering probate court after you die. The attorneys at Dorcey Law Firm have years of experience in estate planning and are available to create a will tailored to your unique needs.Call today to start planning for the future or just to get more information on why having a will is important. Together, you and your attorney can work to ensure that when your time comes, everything is taken care of both quickly and elegantly. Our legal team strives to make your estate transition as simple as possible. Call today at (239) 309-2870 or request a consultation online.

Wills may seem straightforward, but it is crucial that you ensure their legality. Additionally, wills may be subject to litigation if there are reasons to doubt a wills legitimacy. There are other concerns as well including matters of ethics. So, what is an ethical will and why do you need to include one in your estate plan?Will BasicsA will is a legal document used to coordinate the distribution of assets and the future of an estate after death. Individuals can designate beneficiaries, choose a Power of Attorney, and decide how the estate will be divided.A basic will includes:Beneficiaries who will inherit certain assetsDesignation of an executor who will handle the directions in the willGuardians for minor childrenInstructions for the division of assetsWills are crucial because not only do they include provisions for beneficiaries and minors, but they also ensure that the estate is insulated from the worst of probate.Without a will, an estate could be fragmented during the probate process and beneficiaries may not receive a portion of assets that the deceased intended.Legal Will vs. Ethical WillA legal will is the most traditional will and the version that most people picture when thinking about a will. An ethical will however, is designed to pass on intangible assets.The period after a loved one passes is emotionally charged and many people feel connected to certain items. Ethical wills can resolve situations where a family member may want a specific item.Intangible assets are things that are either not physical or do not have a quantifiable value. These assets may include things like guiding principles, memories, and spiritual values. In terms of an ethical will, items with significant sentimental value.These objects may include:RecipesPhotographsClothing itemsAnd other sentimental itemsThese objects and documents can be designated to specific beneficiaries to prevent confusion or bad feelings between family members.Writing an Ethical WillWhen constructing an ethical will, timing is everything. It is important to recognize that items increase in sentiment over time while others may lose value in the same way that physical assets do. It is usually best to write your ethical will after having children or at a time in your life when you feel like there are meaningful contributions to leave behind.Ethical wills do not have a specific structure. Most wills of this type are written like a formal letter, note, or diary entry. These documents can be personalized as much as you want and may be in any format including a scrapbook, collage, video, presentation, or audio recording. In many ways, the process of drafting an ethical will is just as cathartic and therapeutic for the writer as it is for the beneficiaries.Ethical wills may be included in an estate plan but are not legal documents. If you do not have an estate plan, consider contacting our experienced attorneys at Dorcey Law Firm.