Your Will expresses your desire regarding the disposition of your property. If you do not have one, your estate will be distributed according to Florida law and you will lose the opportunity to choose your beneficiaries and who will serve as your personal representative.
The most popular form of trust is the Living Trust. It is one method of avoiding probate, but not the only one. It may be useful to you if you own more than one piece of real estate or if you own out of state property.
A Child's trust is necessary if you have minor children as people under the age of 18 cannot own property. This trust can be set up in your Will.
The Durable Power of Attorney, Living Will, Health Care Power of Attorney and Health Care Surrogate Designation are all Advance Directives. You name persons who could act on your behalf if you become incapacitated. It is important that these documents are completed while you are competent. Do not delay!
It is always best to be prepared and make sure your wills and trusts are set up correctly, so there is no confusion and all your wishes are carried out as planned and that your advance directives are in place before they are needed.
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