While estate planning may seem a daunting task, understanding your estate planning Clearwater documents typically involved can take a lot of the mystery out of it.
Health Care Directive
One of the most important documents in your estate plan is your Advanced Health Care Directive. This document allows you to nominate agents to make health care decisions for you in the event you are unable to do so yourself. Further, it permits you to be specific as to the type of treatment you do, and do not, want. It can be clear in explaining any end-of-life treatment decisions you may choose, such as maintaining or withdrawing life support, or organ donations. Finally, it should include clear HIPPA releases which allow your agents to access your medical records and deal with health insurance issues. Consult with your Clearwater estate planning attorney to assist in drafting this important document.
Financial Power of Attorney
In the event of your incapacity, it is important that your bills continue to be paid, your assets managed, and your family provided for. This can be accomplished through the power of attorney, in which you nominate an agent to handle these matters on your behalf. The power of attorney can be effective immediately, or only upon your incapacity. Additionally, it can give limited or broad powers to your designated agent. Your Clearwater estate planning lawyer can guide you in determining how best to construct this document.
Your will designates an executor to administer your estate after your death. Your executor is empowered to pay bills of the estate and file tax returns, managing your estate until it can be properly distributed to the beneficiaries named in this document. Again, it is important to discuss your goals with your Clearwater estate planning attorney.
This is a very powerful document which nominates your successor trustees who will manage trust assets upon your incapacity or at your death. It designates beneficiaries who will inherit your estate at your death, but also ensures that you designate a professional fiduciary or trusted friends or family members to manage the estate on your behalf, during your lifetime, if you are unable to do so yourself. Again, the Clearwater estate planning attorneys at the Coleman Law Firm can assist you in preparing this document.
Contact Us for More Information on Estate Planning Clearwater Documents
Contact the Coleman Law Firm at 727.461.7474 or toll free at 866.461.7474 to prepare or review your estate plan.