Estate Planning

At Clements Law, P.A., our estate planning attorneys represent clients in preparing a customized estate plan that fits their needs. Whether you need a Trust, Last Will and Testament, Durable Power of Attorney, Designation of Health Care Surrogate, Living Will, Codicil, or an Amendment to Trust, our trusted estate planning attorneys provide expert legal advice, and tailor your estate plan to what is best for you.

Estate Planning Tools:

• Wills - A Last Will and Testament, or Will, is a document that a person prepares to ensure that their property is distributed according to their wishes when they pass away. If a person dies without a Will, the Florida Statutes determine how someone's property is distributed and who receives the property. A will prevents this from happening. A Will is a flexible document that allows a person to leave their property to family, friends, charities, or trusts.


• Amendments to Wills (Codicils) - There are times in life when your situation changes, and it may be time to reevaluate your estate plan and update your will. Some life events (such as the birth of a child or grandchild, death of a family member, marriage, or divorce) can impact your estate plan. When these events occur, a will can be replaced, amended, or revoked by either replacing it in its entirety, or amending it with a codicil. A codicil is an addition or supplement to a will that explains, modifies, or revokes a particular part of a will.


• Trusts - A trust is a legal arrangement where a trustee holds legal ownership of property for the benefit of someone else. Trusts can be either revocable or irrevocable and can be created during your lifetime or created by a will. A trust is a legal entity where a person, called a grantor or settlor, transfers property to the trust, which is later distributed according to the terms of the trust. Most trusts created in Florida are revocable. One of the most common types of trusts are Revocable Living Trusts. These trusts designate the Grantor as the trustee and lifetime beneficiary, and names a successor trustee and names after death beneficiaries. This means that during your lifetime you may enjoy the benefits of your property, but upon passing, a successor trustee steps in to distribute your property according to your wishes. A Revocable Living Trust is an effective way to make sure your property is given to your loved ones without having to go through probate. For more information about probate, read here.


• Special Needs Trusts - A Special Needs Trust, or a supplemental needs trust, is a trust which supplements a beneficiary's Medicaid benefits, disability benefits, and government support without disqualifying the beneficiary from those benefits. The purpose of a special needs trust is to ensure the maximum quality of life for the beneficiary while maximizing their public benefits.


• Enhanced Life Estate Deeds/Lady Bird Deeds - An enhanced life estate deed, also known as a Lady Bird Deed, is used to transfer real estate at death while avoiding probate. Typically, real estate, either a home or other real property, is one of the most valuable assets that a person may own. An enhanced life estate deed can be a powerful estate planning tool that transfers the owner's entire interest in the property to a remainderman upon the owner's death, without a will and without probate. A remainderman is similar to a POD beneficiary named on a bank account. Once the principal owner passes away, the remainderman takes the property automatically.
  
  Another benefit of a Lady Bird Deed is that the owner keeps the right to sell, convey, mortgage, and dispose of the property without the consent of the remainderman, even though the remainderman is named on the deed. The owner may sell the property to a third party without involving the remainderman or needing their signature on any of the closing documents. The owner is also not liable to the remainderman for wasting the property. Although there are many benefits to using a Lady Bird Deed, they do have their limits. Speak with an Estate Planning Attorney to find out which estate planning options are best for you.


• Durable Power of Attorneys - An important document to have in place when you no longer have the capacity to manage your property is a Durable Power of Attorney (DPOA). This is also known as a Durable Power of Attorney for Finances. A Durable Power of Attorney names an agent, also called an attorney-in-fact, and authorizes them to take care of your financial and business affairs when you are no longer able to do so.

Advanced Directives

• Designation of Health Care Surrogate - A Designation of Health Care Surrogate, or Durable Power of Attorney for Health Care, is a document that names an agent, also known as a surrogate, to make health care decisions for you when you are not able to do so. A general misconception is that a spouse or family member can step in to make medical decisions for their loved ones without one. However, this is not the case. A designation of Health Care Surrogate ensures that your medical needs are taken care of by an agent of your choosing.


• Living Will - A Living Will is a document which specifies your wishes and instructions on how you would like to be treated in end-of-life situations. Living Wills can also include hypothetical examples of how you want to be treated. A Living Will authorizes medical personnel to remove mechanisms that are unnaturally prolonging your life. Living Wills cover situations when you have a severe and incurable or irreversible illness, a disease which is terminal in nature or injury that places you in a persistent vegetative state.

To schedule a consultation with one of our estate planning attorneys, or to discuss any of the estate planning legal matters represented above, contact us at 386-740-0037. Conveniently located in DeLand, FL, our Volusia County Law Firm represents clients in DeBary, DeLand, Deltona, Lake Helen and Orange City, FL.:

Related Articles

What's the Difference Between a Will & a Trust?

Ten Things Every Adult Should Have As Part of their Estate Plan

What is a Lady Bird Deed?