You Do Need An Estate Plan
Estate planning is not just for the wealthy. Anyone who has property, wishes to protect their assets and provide for their loved ones in case of death, as well as prepare should they suffer some type of incapacity, should have a comprehensive estate plan.
Decades Of Experience With Estate Plans
I am Katherine E. Macdonald. For more than 35 years, I have helped families throughout North Central Florida achieve their estate planning needs and goals. From my office in Gainesville, I will work closely with you to understand your needs and objectives and recommend an estate planning solution to help you meet them.
What Should Be In Your Estate Plan?
Your estate plan may include some or all of the following:
A will establishes your final wishes in regard to your personal property, real property and other assets. It can also establish the guardianship of minor children and funeral arrangements. Even if most of your assets are in a trust, it is still recommended that you have a will to catch any stray assets that may come to light following your death.
Your will may also contain a testamentary trust, which can be used to leave assets to your children, and grandchildren, other loved ones, and other beneficiaries, while establishing guidelines as to when and how the assets can be distributed.
There are many types of trusts, each designed to help you meet different estate planning goals. Living trusts, irrevocable trusts, revocable trusts and Medicaid trusts are just a few of the various trusts you may use within an estate plan. I will take the time to listen to your concerns, discuss your needs and recommend the type of trust or trusts best for your specific situation.
Should you become incapacitated and unable to make decisions on your own, a living will expresses your wishes regarding medical care and end-of-life procedures. A designation of health care surrogate is often used in conjunction with a living will. This document designates a person who will make medical decisions or provide consent should you become incapacitated.
Durable Power Of Attorney
A durable power of attorney designates a person to manage your financial affairs if you are unable to do so by yourself. This person will have the authority to pay your bills, sell your assets and perform other duties on your behalf.
Start The Estate Planning Process Today
Creating an estate plan can give you the peace of mind that your wishes will be upheld in the face of death or incapacity. To discuss your needs with an experienced lawyer, contact me online or call 352-373-6323.