Estate Planning Services

It’s never too early to plan your estate and healthcare wishes. Proper estate planning ensures that your loved ones can honor your final wishes and are taken care of in your absence. At Michael R. Fried, P.A., we specialize in drafting essential estate planning documents, including Last Will and Testament, Durable Power of Attorney, Living Trusts, Health Care Surrogates, and Living Wills.

Last Will and Testament

A will, or Last Will and Testament, is a legal document that outlines how your assets will be distributed after your death and can designate guardians for minor children. It ensures your wishes are honored and helps avoid complications during probate. Without a will, Florida’s intestacy laws will dictate how your estate is distributed. To ensure your will is valid and meets state requirements, it’s important to work with an estate planning attorney. Keeping your will updated and stored securely is essential to reflect life changes.

Revocable Living Trust

A revocable trust is a flexible estate planning tool that allows the grantor to modify its terms, add or remove beneficiaries, or dissolve the trust during their lifetime. Upon the grantor’s death, assets are transferred directly to beneficiaries, bypassing probate. Revocable trusts offer control over asset distribution and adaptability to changing life circumstances, but they don’t provide tax benefits or creditor protection during the grantor’s life. For more information on how a revocable trust can benefit your estate plan, contact Michael R. Fried, P.A.

Irrevocable Trusts

An irrevocable trust is a permanent estate planning tool where the grantor transfers control and ownership of assets to the trust, offering protection from creditors and potential tax benefits. Once established, the trust cannot be altered by the grantor. Benefits include asset protection, tax savings, and controlled distribution to beneficiaries. There are various types, such as trusts for minors, spendthrift trusts, and life insurance trusts, each serving specific purposes. Setting up an irrevocable trust requires professional legal guidance to ensure it meets your goals and maximizes benefits for your estate plan.

Power of Attorney

A power of attorney (POA) allows you to appoint a trusted person to manage your financial affairs if you’re unable to do so. This can include managing bank accounts, real estate transactions, and more. There are different types of POA: Limited, for specific tasks; General, for broader authority; and Durable, which remains valid even if you become incapacitated. It must be signed, witnessed, and notarized to be legally binding. Establishing a POA is a key part of estate planning, ensuring your financial matters are handled according to your wishes.

Living Will

A living will is an important document that allows you to specify your medical treatment preferences if you’re unable to make decisions for yourself. It outlines whether you want life-sustaining measures like CPR, artificial nutrition, or respiratory support in situations such as terminal illness or being in a vegetative state. In Florida, the document must meet legal requirements to be valid. Creating a living will ensures your medical wishes are honored, reduces confusion, and relieves your loved ones from making tough decisions on your behalf.

Health Care Surrogate

A healthcare surrogate designation is a legal document that allows you to appoint someone to make medical decisions on your behalf if you’re unable to do so. It ensures that your healthcare preferences, including treatments and end-of-life care, are respected. This document must comply with Florida law and helps avoid confusion among family members. Working with an estate planning attorney ensures your designation is clear, legally sound, and aligned with your wishes.