Robles Law P.A

What is estate planning?Estate planning is a process allowing you to arrange how you want your assets to be managed and distributed upon your death. Sometimes, if you have limited assets, limited beneficiaries, and limited instructions on how to distribute your assets to the beneficiaries, planning is pretty straightforward. On the other hand, the more assets, the more beneficiaries, and the more instructions may require an estate plan that is more complex and varied. Generally, there are two components of estate planning with one involving the legal aspects of it and the other involving the non-legal aspects of the plan. Your estate planning attorney can help with both. Legally speaking, your lawyer will review your personal and financial situation and create documents that address the latter. Non-legally speaking, your lawyer will develop an investment strategy for retirement purposes. What goes into an estate plan in Sarasota, Florida?An estate plan will include the documents that accommodate your specific needs. It may involve some or all of the following:Last will and testamentLiving trustIrrevocable trusts (e.g., life insurance trusts, gift trusts, special needs trust, charitable trust)ConservatorshipGuardianshipsAsset protection from divorce, creditors, othersHealth care directives, including medical powers of attorney, living wills, health care proxy, do not resuscitate (DNR) or do not intubate (DNI) ordersSuccession plan for businessCharitable planningWhat is probate?Probate is the legal process of transferring the property from a deceased person's estate to their heirs or beneficiaries. It is overseen by the local probate court.What happens if I die without a will in Florida?Dying without a will means you die intestate. Your assets and belongings will get passed to your heirs according to your state's intestacy laws.What happens to my will if I move to a new state?In rare cases, the differences in state laws could make it invalid. More commonly, if you moved to a state that views marital property differently from your former state of residence, the change in laws could result in complications. It is wise to revisit your will with an attorney in your new state after moving.Do I need a lawyer to write my will?While you do not need a lawyer to write a will, doing so is a considerable risk. A last will and testament that was not written by a lawyer or that was created using an online form are more likely to be challenged, deemed invalid, or leave significant assets unaccounted for, which can create confusion and unforeseen outcomes.Can you write a will if you have Alzheimer's or dementia?People need to have testamentary capacity to make a valid will. This often requires an understanding of the property being devised in the will, who is going to receive it, and the purpose and function of a will. People with Alzheimer's or dementia may struggle with testamentary capacity. The best way to make sure they have a will in place is to hire a lawyer to help.Do I need a Will if I have no children?If you die without a will, your estate will pass to others through your state's intestacy laws. If you have no children, then property will be disbursed to family members. If there are no heirs according to your state's intestacy laws, then the state may acquire the property. So, even if you do not have children, you still need a will if you do not want the state to make decisions for you about who gets what from your estate.Keep in mind you do not have to create a will to benefit only family. A will allows you to pass your estate in a way that will serve what matters most to you: this could be preserving the financial wellbeing of your partner, parents, or siblings, but also setting money aside for the care of a pet, or assisting a charitable organization aligned with your values. Does my will automatically change if I divorce?No. It is crucial to update your will after getting a divorce so that your most recent wishes are reflected in it.Does my will automatically change if I have a child?It depends on the language in the will. If your will specifies an action that will happen to unnamed offspring (for example: All of my property equally to my children), the interpretation would be different than if you made a specific bequest to a named child or children. You should always revisit your will after having a child.What is the difference between a will and a living will?A will also called a last will and testament  comes into effect when its creator dies and directs the executor on how to transfer the property in the estate. A living will, on the other hand, comes into effect when its creator is alive but incapacitated it tells others what the creator's preferences and medical decisions are regarding their healthcare.What is a trust?A trust is a pool of assets that is set aside to be managed by a trustee, for the benefit of someone else, called the beneficiary.What is the purpose of a trust in Sarasota, Florida?A trust sets aside some assets for a trustee to manage for the sake of a beneficiary. The assets set aside in the trust do not go through probate, simplifying and expediting its transfer out of the estate. The trustee must follow the instructions set out by the trust.Can I have both a will and a trust in Sarasota, Florida?Yes. Many trusts are testamentary trusts, and are created in the decedent's will. Lots of other trusts are made during the person's life to set aside some assets outside of their will.Are trusts only for rich people in Florida with lots of assets?No, trusts can be created by anyone who wants to set aside money for someone but who does not want to give them the money in a lump sum. They are especially common when the beneficiary is underage or is unable to manage their own affairs.What happens to jointly owned property when one spouse dies?When spouses jointly own property and then one spouse passes away, the property is automatically passed to the surviving spouse. An example would be the marital home owned by both spouses.What is a guardian?A guardian is a person who is responsible for someone else's well-being. People often appoint a guardian for their underage children in their will or for their adult children with special needs. These legal guardians can make legal decisions on behalf of their charges, much like a parent.How can I designate a guardian for my children?Naming a legal guardian for your underage children is a common provision in a will. You also have the ability to appoint a conservator for adult children who may be unable to make certain decisions.If you do not appoint a legal guardian via a will, the court will appoint one upon your death. For this reason, it is important even if it seems like commonsense to make sure you designate a guardian in your will. How can we make sure our special needs child is cared for after we die? A common way to ensure a special needs child continues to receive the care they need is to appoint a guardian for them and to create a trust fund in their name. Special needs child trusts are specific for this purpose.How can I make sure my pet is cared for after I die?A common way to care for pets after their owner passes away is to state in the will who is to care for the animal and then create a testamentary trust for the benefit of the pet.How much will an Estate Planning attorney in Sarasota, Florida cost?The costs for an estate planning attorney depends on multiple factors. First, what all do you want in your estate plan? How much in the way of assets fo you have? The more complicated your estate plan, the more costs you will expend. Second, how does the attorney charge? Is it by flat fee, which is most common among estate planning attorneys, or by hourly rate? In the former, less services may be included in the fixed rate, but in the latter, hours can add up quickly. You want to be sure exactly what you are getting (and not) for the price you are paying. You may pay a couple hundred dollars, or you could pay a couple thousand dollars.When do I need a power of attorney in Florida?A power of attorney is essential for people who are unable to make important medical or financial decisions on their own behalf, usually because they are incapacitated or suffering from a medical condition. There are five types of powers of attorney, each with their own purpose:Durable power of attorneyMedical power of attorneyGeneral power of attorneyLimited (special) power of attorneySpringing power of attorneyContact an Estate Planning Lawyer in Florida TodayAt Robles Law, P.A., we know you have lots of questions about estate planning. Our estate planning lawyer in Florida is here to answer your specific questions. Contact by calling us directly at (941) 315-2114 to schedule a Free 30 Minute Consultation.

Trusts can be very useful, but they are not for everyone. Here, commonly asked questions are answered. If you are thinking about opening a trust, already have a trust and have questions, or are simply unsure of what to do about an estate plan, contact our lawyer for trusts in Sarasota to schedule a Free 30-Minute Consultation and get answers to your specific questions.What is a Trust?A Trust is a fiduciary relationship wherein one person or entity, known as the Trustee, has custody and control over certain assets. The custody and control of the assets are given to the trustee by the Settlor/Grantor. The Trustee has the responsibility of managing the assets according to the terms of the Trust and for the benefit of the person, persons, or entity the Trust was created for. The person, persons, or entity benefiting from the Trust is known as the Beneficiary.   There are different types of Trusts designed for various situations, like:Revocable TrustsIrrevocable TrustsCharitable TrustsSpecial Needs PlanningSpendthrift TrustsTestamentary TrustsGun TrustsTrusts can be very specific, or they can be broad. People opt for different ones to satisfy different purposes. When Do I Need a Trust in Florida?Trusts can be used at any age and for a variety of reasons. Some of the most common reasons people will benefit from the use of a Trust include:InheritanceIf you have inherited a large number of assets, it is a good idea to look at a trust to manage them and keep them safe. It is also beneficial to place your own assets in a Trust to protect your children's inheritance. Special Needs Family MemberIf you have a child or other member of your family who has special needs, a Trust is a common way to protect any assets they may have access to. The Trustee will ensure the proceeds of the Trust are used for the special needs family member and not for some other purpose.Privacy MattersThe terms of Trusts, unlike Wills, are not made public. Trusts are a good choice if you do not want the details of your financial matters made public.What are the Benefits of a Trust in Sarasota?Benefits of a Trust vary, but can include:Keeping certain assets judgment-proofProviding income to a special needs family member without having that income render them unable to receive public assistanceTax benefitsAbility to avoid the probate processThere may be other benefits available to you depending on the circumstances of your situation.What are the Disadvantages of a Trust in Sarasota?Irrevocable Trusts: Some Trusts are irrevocable, meaning that once created, the Settlor/Grantor is unable to change the terms of or revoke the Trust in its entirety. This loss of control is a huge disadvantage to many. That said, the Trust may still be terminated, but it can be a lengthy process involving all parties to the Trust. Revocable Trusts: Fortunately, it is possible to create revocable trusts (Trusts that can be changed), but these types of Trusts vary in the purpose that may not reflect the reason you created an irrevocable trust.Another disadvantage is the amount of paperwork involved in setting up a Trust and the costs associated with creating and managing it.How Do I Terminate or Modify a Trust in Florida?The ability and process to terminate or modify a Trust may depend upon the terms of the Trust itself. Some make the process easy, and the Settlor/Grantor may retain the ability to terminate or amend the Trust up until the moment of their death. Others are formed in such a way that once they are formed, termination or amendments require a complex process and, in the end, may not be eligible for termination or modification. If I Make a Trust in Florida, Do I Still Need a Will?A Will is always a good idea. It may seem confusing to need a Will and a Trust, but reasons exist to have both, even though the Will may never be used. Here are two important reasons:Guardian for minor children. You cannot name a guardian for minor children in a trust. So if you have children under the age of 18 years, you should designate a guardian in a Will.Property not transferred to the trust. Trusts are created all the time, and trustors often forget to transfer assets they obtain after creating the trust. If this property is not in the trust, it will not be disbursed by the trust but through probate. A Will helps ensure everything goes where it's intended and is not challenged in probate court. How Much will Setting Up a Trust Cost?The costs to set up the Trust are minimal, but it depends on the legal services you need and the extent of those services. The more complex the Trust, the likelier the costs will increase. Plus, some estate planning lawyers charge by the hour while other charge a fixed rate. Knowing what's included and excluded in those rates will also inform what the total costs of the Trust are.Do I Need a Trusts Attorney in Florida?Setting up a Trust is a sound strategy whether doing it for financial reasons or ensuring your Beneficiaries have all the resources they will need after you are gone. For simple trusts, you might be able to use do-it-yourself software or online service, but to make sure the process is undertaken so that the Trust cannot be challenged in court, it is always a good idea to have an estate planning Attorney review the Trust and confirm it is executed properly.For more a Trust with many assets, multiple Beneficiaries, and/or complex instructions, it is always advisable to have an Attorney draft, review, and execute it. The laws can get confusing. Plus, anytime you deal with finances, it's always good to have someone with experience follow up. Also, we can help you:Choose an appropriate TrusteeUpdate documents as needed and when appropriateAvoid probateProtect assetsAchieve estate planning goalsContact a Trust Lawyer in Sarasota TodayAt Robles Law, P.A., our Trusts Attorney in Florida will help identify what trust works best in your unique circumstances. There are many types of Trusts that can be created to suit your needs, and each has their benefits and disadvantages. We can help you weigh the pros and cons against what your specific needs are. Contact us at (941) 315-2114 to schedule a Free 30-Minute Consultation and learn what type of Trust can complement your estate plan today.

For more information on the author, Robles Law, CLICK HERE!Benjamin Franklin once said, An ounce of prevention is worth a pound of cure. Before finding yourself in an emergency, there are legal documents that should be executed prior to losing capacity. Having certain documents in place would allow your family and friends to continue to care for you and your finances, while you are incapacitated. The Power of Attorney and Health Care Surrogate grants fiduciary powers to a person to act on your behalf, for finances and medical decisions. A Living Will states what your wishes are regarding life-prolonging procedures. Capacity is required at the time of execution of these documents. If you no longer have the capacity and do not have these documents in place, then guardianship would be required, leaving the decision-making process in someone else's hands, instead of your own. Your family and friends should not be burdened with the fear and anxiety of making major decisions on your behalf. It is better to provide them with the necessary tools, so that they may follow your instructions. Peace of Mind is priceless.

Many senior citizens need long-term care at some point. Some senior citizens do not have family members who can give them the kind of care they need, and because of that as well as many other factors, they will need nursing home care. But nursing home care and other long-term care arrangements are expensive. Medicaid can help fund these things, but you must meet the financial qualifications. Estate planning is critical for many people to be able to qualify. At Robles Law, P.A., our estate planning attorney in Florida will walk you through the estate planning process and help you begin planning for Medicaid early so that you and your spouse will qualify if or when the time comes and you need the help. Call (941) 315-2114 to schedule a consultation today.What is Medicaid?Medicaid is a federal program that provides healthcare coverage to individuals as well as families that are low income. Costs of this program are typically covered by a combination of federal and state funding. Services are provided to those with limited financial means so that they can obtain the medical care they need with limited out-of-pocket costs. Medicaid also provides coverage to disabled people in some situations. It can assist the elderly with paying Medicare premiums. Planning for Medicaid in FloridaBefore submitting an application for Medicaid, many people go through a process known as Medicaid planning. Medicaid planning is assessing a potential applicant's ability to receive Medicaid and taking steps to improve their chances of receiving it. Why People Plan for MedicaidThere are multiple reasons why people engage in Medicaid planning in order to qualify for the program. Three common reasons are:To obtain coverage for the cost of long-term care that they would not otherwise be able to afford;To preserve assets that may otherwise become part of Medicaid's estate recovery program; andBecause the Medicaid application process can be confusing, getting assistance from someone who understands how it works can prove very beneficial in the long run.Medicaid planning benefits people who really need the services provided but fear they may not qualify. If you do not have the financial resources or family members who are able to care for you when it becomes harder for you to do it yourself, you should speak to an attorney to plan your estate. Qualifying for Medicaid can be a big help just when you need it.Medicaid Eligibility & Coverage in Florida Medicaid planning exists to provide medical coverage to those people who need it most. Following are some of the main qualifications that must be met.Income-Based EligibilityIncome is one of the primary factors considered in a Medicaid eligibility determination. For most children, pregnant women, parents, and adults, their income must be below a certain threshold. This amount is calculated using taxable income and tax filing relationships. There are cases where people who wish to qualify for Medicaid give their possessions to their children or other family members so that they may qualify for benefits. There are rules established to prevent this from happening, and it may not be in your best interest to give away your property. Thus, the reason it is important to speak with an estate planning attorney in Florida.Non-Income Based Eligibility There are ways to qualify for Medicaid even if you are unable to qualify under the income requirements. Blindness, disability, or age (over the age of 65) are other ways to qualify. Veterans may also qualify for Medicaid benefits.Coverage Services Provided by MedicaidFederal law mandates that certain services be covered by Medicaid, while other services are decided by each state. Typically, Medicaid covers the following:Inpatient and Outpatient Hospital VisitsHome Health ServicesPhysician ServicesX-Ray ServicesLaboratory ServicesYou will need to check with your state to determine what other services may be covered. How a Medicaid Attorney in Florida Can HelpIf you or a loved one is in need of the long-term care that Medicaid helps cover, but you are unsure if you will be able to qualify, a Medicaid attorney in your area can help. They will know what the threshold amount is for qualification. If your income exceeds that amount, they will be able to work with you to formulate a plan to help you become qualified. One of the ways to accomplish the latter is through shielding your assets so they are no longer considered when your financial situation is assessed to determine Medicaid eligibility. Contact an Estate Planning Lawyer in Sarasota for Medicaid Planning TodayAt Robles Law, P.A., our estate planning lawyer understands the importance of Medicaid eligibility for so many seniors who need long-term care. Unfortunately, so many people learn about estate planning for Medicaid when it is too late. Start early to avoid future problems and make sure you qualify for Medicaid when you most need it. Contact us either by calling us directly at (941) 315-2114. We will schedule a consultation and help you get started on Medicaid planning today.

There's a lot to know about Wills. You need to understand the difference between a Will and Living Will, how Wills should be executed, and how they can be modified, terminated, or challenged. You also need to understand the probate process and how that can affect the outcome of your estate planning goals. Here, we provide general responses to some of the most common questions we receive from clients. To get more specific information and to either create or update a Will, contact our estate planning lawyer in Florida. You can do so by calling Robles Law, P.A. at (941) 315-2114 to schedule a Free 30-minute Consultation with our Estate Planning Attorney in Sarasota. Who Should Have a Will?Many people assume that only the wealthy need to have a Will. However, the truth is that many people, with and without great wealth, need to have a Will in case the unexpected occurs. People who should have a Will include but are not limited to:Those who are marriedThose who have childrenThose who own assetsThose who have a special needs family memberOnly people who do not have assets, a spouse, and/or children may not need a Will. When Should I Make a Will in Florida?A Will needs to be created and often updated when certain events occur:When you turn 18When you marry, divorce, or remarryWhen you have childrenWhen you start a businessWhen you buy a homeWhenever you have a major life change, it is time to make or update your existing Will. What Goes into a Will in Florida?A Will states who should inherit your assets when you die. If you have children, you can designate who you want to have custody of your children if you pass away. A Will also allows you to appoint an executor (known as a personal representative in some jurisdictions) for your estate. This person will be in charge of administering your estate according to the terms of your Will when you die. What Should I Avoid in a Will?There are certain things that are best dealt with through other means rather than a Will. Things that are not appropriate and should be avoided in a Will include:Retirement plan proceedsLife InsuranceLiving trust propertyAn estate planning attorney can advise you on the best way to handle these matters. Many of them can complement your Will and work well in an estate plan. Can My Parents Leave Me Out of their Will?Whether or not your parents are able to leave you out of their Will depends on which state you live in. Most states allow this to occur, while in others a parent must leave at least a token amount, such as $1, for the Will to be considered valid. Can Someone Challenge My Will in Florida after I Die?There is always a possibility someone will challenge your Will after you pass away. Whether or not that challenge is successful is a different question. Some of the most common reasons Wills are challenged include:That the Testator was under undue influence or lacked the capacity to make a WillThat the Will is a fraud/forgedThat the Will lacks the formalities required to be valid, such as being signed and correctly witnessedHaving a lawyer help with the process of creating your Will can help prevent successful challenges. Can I Make a Will without a Lawyer in Florida?It is possible to create a Will without the assistance of a lawyer. However, states can be very specific regarding what is required for a Will to be considered valid. If you create the Will on your own, and it does not meet the legal requirements for validity, it may not be enforceable. How Much Does it Cost to Make a Will?The cost of creating a Will varies. It depends on your estate and whether you want additional estate planning tools, like Trusts and Advance Directives. Many Wills and Trusts lawyers in Florida charge a fixed rate for estate planning and other attorneys charge an hourly rate. You will want to know what is and is not included in either rates.Contact an Estate Planning Lawyer in Florida TodayDo not procrastinate another day before starting an estate plan because your loved ones are too important. Wills are often an integral part of any estate plan, and keep in mind: it really does not matter how much your estate is worth. What matters is protecting your interests and securing your heirs' futures. Contact Robles Law, P.A. today online or at (941) 315-2114 to schedule a Free 30-minute Consultation. Our estate planning attorney in Florida will guide you through the process. 

No one wants to think about their own death or dying, but it's a reality. An accident can happen any day. You could be diagnosed with a terminal illness. If you do not have a plan established on end-of-life care or medical treatment preferences for when you are incapacitated and cannot speak for yourself, decisions will have to be made by family members. That can be a source of in-fighting and guilt. You don't want that. At Robles Law, P.A., our healthcare directive lawyer in Florida can go over these sensitive matters with you and help you devise a healthcare directive that mirrors your values and beliefs. Contact us at (941) 315-2114 or online schedule a Free 30 Minute Consultation to learn more. In the meantime, below is a guide to healthcare directives that address common issues and questions that many of our clients have before coming to see us.What Can Healthcare Directives Do in Florida?A healthcare directive, also known as an advance directive, is a set of medical instructions for what to do when someone is unable to make important medical decisions on their own. Each state has its own respective forms related to healthcare directives, though many common components are present throughout each state.The underlying function of an advance directive is to make a patient's healthcare wishes known before the medical issues arise. Some examples of healthcare directives include:Living willsDo-not-resuscitate (DNR) ordersDo-not-intubate (DNI) instructionsOrgan donor registrationDesignation of a healthcare proxy, or someone else to make medical decisions on the patient's behalfDesignation of a medical power of attorneyIn sum, healthcare directives do a lot for such a small part of an estate planthey save your family the emotional pain of making healthcare decisions for you when you no longer can, and they secure your medical treatment preferences so that care you do not want is not provided while care you want is provided.Creating a Healthcare Directive in FloridaDifferent states have very different rules regarding how healthcare directives are created and what goes in them. Some states require healthcare directives to be fairly particular and specific while others allow them to be quite vague and wide-reachingthough regardless of where you are, the more specific you are, the less confusion there will be. You can talk to your doctor about what you might want to go into the healthcare directive, and you can speak to an attorney to make sure you complete the right forms.In any event, upon creating a healthcare directive, you want to :Keep the originals in a safe, accessible place.Provide a copy to your doctor, health care agent, attorney, and/or loved ones.Be sure to log who has a copy of the directive so in case one is lost, you have a backup.Talk to family members about the decisions you made in the advance directive. It's good to establish boundaries and an understanding of your preferences.Keep with you (in your purse or wallet) and a condensed version of the directive with a note where a copy may be foundthis is important for unexpected emergencies.Changing Advance Directives in FloridaEvery few years, you should review your advance directives and make changes accordingly. This is true for all your estate plan documents. There are two events that particularly prompt a need for an update: A new diagnosis, a terminal illness or disease that will alter your way of life; andMarriage or divorce, i.e., you may want to change who you appoint as your healthcare proxy or agent.The Benefits of Having a Healthcare Directive as Part of an Estate Plan in FloridaCreating a healthcare directive is not something that people like to think aboutmost people do not want to plan for serious medical problems. However, even young and healthy people stand to benefit from having a healthcare directive in place. Like an insurance policy, a healthcare directive helps them in a time of need, foreseeable or not. It also drastically reduces confusion at a moment when quick decisions need to be made. It can also remove the uncertainty and guilt that other people can feel when they have to make important decisions on someone else's behalf.Contact a Healthcare Directive Lawyer in Sarasota, Florida TodayPlanning for your future health care is an important part of your estate plan. It is not something to be avoided. Peace comes with being prepared. At Robles Law, P.A., our estate planning lawyer will walk you through the steps of a healthcare directive and all other components of an estate plan that suit your needs and wants. Contact us by calling us directly at (941) 315-2114 to schedule a Free 30 Minute Consultation today.

What is estate planning?Estate planning is a process allowing you to arrange how you want your assets to be managed and distributed upon your death. Sometimes, if you have limited assets, limited beneficiaries, and limited instructions on how to distribute your assets to the beneficiaries, planning is pretty straightforward. On the other hand, the more assets, the more beneficiaries, and the more instructions may require an estate plan that is more complex and varied. Generally, there are two components of estate planning with one involving the legal aspects of it and the other involving the non-legal aspects of the plan. Your estate planning attorney can help with both. Legally speaking, your lawyer will review your personal and financial situation and create documents that address the latter. Non-legally speaking, your lawyer will develop an investment strategy for retirement purposes. What goes into an estate plan in Sarasota, Florida?An estate plan will include the documents that accommodate your specific needs. It may involve some or all of the following:Last will and testamentLiving trustIrrevocable trusts (e.g., life insurance trusts, gift trusts, special needs trust, charitable trust)ConservatorshipGuardianshipsAsset protection from divorce, creditors, othersHealth care directives, including medical powers of attorney, living wills, health care proxy, do not resuscitate (DNR) or do not intubate (DNI) ordersSuccession plan for businessCharitable planningWhat is probate?Probate is the legal process of transferring the property from a deceased person's estate to their heirs or beneficiaries. It is overseen by the local probate court.What happens if I die without a will in Florida?Dying without a will means you die intestate. Your assets and belongings will get passed to your heirs according to your state's intestacy laws.What happens to my will if I move to a new state?In rare cases, the differences in state laws could make it invalid. More commonly, if you moved to a state that views marital property differently from your former state of residence, the change in laws could result in complications. It is wise to revisit your will with an attorney in your new state after moving.Do I need a lawyer to write my will?While you do not need a lawyer to write a will, doing so is a considerable risk. A last will and testament that was not written by a lawyer or that was created using an online form are more likely to be challenged, deemed invalid, or leave significant assets unaccounted for, which can create confusion and unforeseen outcomes.Can you write a will if you have Alzheimer's or dementia?People need to have testamentary capacity to make a valid will. This often requires an understanding of the property being devised in the will, who is going to receive it, and the purpose and function of a will. People with Alzheimer's or dementia may struggle with testamentary capacity. The best way to make sure they have a will in place is to hire a lawyer to help.Do I need a Will if I have no children?If you die without a will, your estate will pass to others through your state's intestacy laws. If you have no children, then property will be disbursed to family members. If there are no heirs according to your state's intestacy laws, then the state may acquire the property. So, even if you do not have children, you still need a will if you do not want the state to make decisions for you about who gets what from your estate.Keep in mind you do not have to create a will to benefit only family. A will allows you to pass your estate in a way that will serve what matters most to you: this could be preserving the financial wellbeing of your partner, parents, or siblings, but also setting money aside for the care of a pet, or assisting a charitable organization aligned with your values. Does my will automatically change if I divorce?No. It is crucial to update your will after getting a divorce so that your most recent wishes are reflected in it.Does my will automatically change if I have a child?It depends on the language in the will. If your will specifies an action that will happen to unnamed offspring (for example: All of my property equally to my children), the interpretation would be different than if you made a specific bequest to a named child or children. You should always revisit your will after having a child.What is the difference between a will and a living will?A will also called a last will and testament  comes into effect when its creator dies and directs the executor on how to transfer the property in the estate. A living will, on the other hand, comes into effect when its creator is alive but incapacitated it tells others what the creator's preferences and medical decisions are regarding their healthcare.What is a trust?A trust is a pool of assets that is set aside to be managed by a trustee, for the benefit of someone else, called the beneficiary.What is the purpose of a trust in Sarasota, Florida?A trust sets aside some assets for a trustee to manage for the sake of a beneficiary. The assets set aside in the trust do not go through probate, simplifying and expediting its transfer out of the estate. The trustee must follow the instructions set out by the trust.Can I have both a will and a trust in Sarasota, Florida?Yes. Many trusts are testamentary trusts, and are created in the decedent's will. Lots of other trusts are made during the person's life to set aside some assets outside of their will.Are trusts only for rich people in Florida with lots of assets?No, trusts can be created by anyone who wants to set aside money for someone but who does not want to give them the money in a lump sum. They are especially common when the beneficiary is underage or is unable to manage their own affairs.What happens to jointly owned property when one spouse dies?When spouses jointly own property and then one spouse passes away, the property is automatically passed to the surviving spouse. An example would be the marital home owned by both spouses.What is a guardian?A guardian is a person who is responsible for someone else's well-being. People often appoint a guardian for their underage children in their will or for their adult children with special needs. These legal guardians can make legal decisions on behalf of their charges, much like a parent.How can I designate a guardian for my children?Naming a legal guardian for your underage children is a common provision in a will. You also have the ability to appoint a conservator for adult children who may be unable to make certain decisions.If you do not appoint a legal guardian via a will, the court will appoint one upon your death. For this reason, it is important even if it seems like commonsense to make sure you designate a guardian in your will. How can we make sure our special needs child is cared for after we die? A common way to ensure a special needs child continues to receive the care they need is to appoint a guardian for them and to create a trust fund in their name. Special needs child trusts are specific for this purpose.How can I make sure my pet is cared for after I die?A common way to care for pets after their owner passes away is to state in the will who is to care for the animal and then create a testamentary trust for the benefit of the pet.How much will an Estate Planning attorney in Sarasota, Florida cost?The costs for an estate planning attorney depends on multiple factors. First, what all do you want in your estate plan? How much in the way of assets fo you have? The more complicated your estate plan, the more costs you will expend. Second, how does the attorney charge? Is it by flat fee, which is most common among estate planning attorneys, or by hourly rate? In the former, less services may be included in the fixed rate, but in the latter, hours can add up quickly. You want to be sure exactly what you are getting (and not) for the price you are paying. You may pay a couple hundred dollars, or you could pay a couple thousand dollars.When do I need a power of attorney in Florida?A power of attorney is essential for people who are unable to make important medical or financial decisions on their own behalf, usually because they are incapacitated or suffering from a medical condition. There are five types of powers of attorney, each with their own purpose:Durable power of attorneyMedical power of attorneyGeneral power of attorneyLimited (special) power of attorneySpringing power of attorneyContact an Estate Planning Lawyer in Florida TodayAt Robles Law, P.A., we know you have lots of questions about estate planning. Our estate planning lawyer in Florida is here to answer your specific questions. Contact by calling us directly at (941) 315-2114 to schedule a Free 30 Minute Consultation.

Trusts can be very useful, but they are not for everyone. Here, commonly asked questions are answered. If you are thinking about opening a trust, already have a trust and have questions, or are simply unsure of what to do about an estate plan, contact our lawyer for trusts in Sarasota to schedule a Free 30-Minute Consultation and get answers to your specific questions.What is a Trust?A Trust is a fiduciary relationship wherein one person or entity, known as the Trustee, has custody and control over certain assets. The custody and control of the assets are given to the trustee by the Settlor/Grantor. The Trustee has the responsibility of managing the assets according to the terms of the Trust and for the benefit of the person, persons, or entity the Trust was created for. The person, persons, or entity benefiting from the Trust is known as the Beneficiary.   There are different types of Trusts designed for various situations, like:Revocable TrustsIrrevocable TrustsCharitable TrustsSpecial Needs PlanningSpendthrift TrustsTestamentary TrustsGun TrustsTrusts can be very specific, or they can be broad. People opt for different ones to satisfy different purposes. When Do I Need a Trust in Florida?Trusts can be used at any age and for a variety of reasons. Some of the most common reasons people will benefit from the use of a Trust include:InheritanceIf you have inherited a large number of assets, it is a good idea to look at a trust to manage them and keep them safe. It is also beneficial to place your own assets in a Trust to protect your children's inheritance. Special Needs Family MemberIf you have a child or other member of your family who has special needs, a Trust is a common way to protect any assets they may have access to. The Trustee will ensure the proceeds of the Trust are used for the special needs family member and not for some other purpose.Privacy MattersThe terms of Trusts, unlike Wills, are not made public. Trusts are a good choice if you do not want the details of your financial matters made public.What are the Benefits of a Trust in Sarasota?Benefits of a Trust vary, but can include:Keeping certain assets judgment-proofProviding income to a special needs family member without having that income render them unable to receive public assistanceTax benefitsAbility to avoid the probate processThere may be other benefits available to you depending on the circumstances of your situation.What are the Disadvantages of a Trust in Sarasota?Irrevocable Trusts: Some Trusts are irrevocable, meaning that once created, the Settlor/Grantor is unable to change the terms of or revoke the Trust in its entirety. This loss of control is a huge disadvantage to many. That said, the Trust may still be terminated, but it can be a lengthy process involving all parties to the Trust. Revocable Trusts: Fortunately, it is possible to create revocable trusts (Trusts that can be changed), but these types of Trusts vary in the purpose that may not reflect the reason you created an irrevocable trust.Another disadvantage is the amount of paperwork involved in setting up a Trust and the costs associated with creating and managing it.How Do I Terminate or Modify a Trust in Florida?The ability and process to terminate or modify a Trust may depend upon the terms of the Trust itself. Some make the process easy, and the Settlor/Grantor may retain the ability to terminate or amend the Trust up until the moment of their death. Others are formed in such a way that once they are formed, termination or amendments require a complex process and, in the end, may not be eligible for termination or modification. If I Make a Trust in Florida, Do I Still Need a Will?A Will is always a good idea. It may seem confusing to need a Will and a Trust, but reasons exist to have both, even though the Will may never be used. Here are two important reasons:Guardian for minor children. You cannot name a guardian for minor children in a trust. So if you have children under the age of 18 years, you should designate a guardian in a Will.Property not transferred to the trust. Trusts are created all the time, and trustors often forget to transfer assets they obtain after creating the trust. If this property is not in the trust, it will not be disbursed by the trust but through probate. A Will helps ensure everything goes where it's intended and is not challenged in probate court. How Much will Setting Up a Trust Cost?The costs to set up the Trust are minimal, but it depends on the legal services you need and the extent of those services. The more complex the Trust, the likelier the costs will increase. Plus, some estate planning lawyers charge by the hour while other charge a fixed rate. Knowing what's included and excluded in those rates will also inform what the total costs of the Trust are.Do I Need a Trusts Attorney in Florida?Setting up a Trust is a sound strategy whether doing it for financial reasons or ensuring your Beneficiaries have all the resources they will need after you are gone. For simple trusts, you might be able to use do-it-yourself software or online service, but to make sure the process is undertaken so that the Trust cannot be challenged in court, it is always a good idea to have an estate planning Attorney review the Trust and confirm it is executed properly.For more a Trust with many assets, multiple Beneficiaries, and/or complex instructions, it is always advisable to have an Attorney draft, review, and execute it. The laws can get confusing. Plus, anytime you deal with finances, it's always good to have someone with experience follow up. Also, we can help you:Choose an appropriate TrusteeUpdate documents as needed and when appropriateAvoid probateProtect assetsAchieve estate planning goalsContact a Trust Lawyer in Sarasota TodayAt Robles Law, P.A., our Trusts Attorney in Florida will help identify what trust works best in your unique circumstances. There are many types of Trusts that can be created to suit your needs, and each has their benefits and disadvantages. We can help you weigh the pros and cons against what your specific needs are. Contact us at (941) 315-2114 to schedule a Free 30-Minute Consultation and learn what type of Trust can complement your estate plan today.