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Estate planning simply allows you to decide who will or will not receive from your estate when you are gone. Of course there are more complex issues surrounding estate planning, but for this moment, we are just going to focus on this one issue; beneficiaries.

A beneficiary is any person who gains an advantage and/or profits from something. You can be the beneficiary of someone's kindness, the beneficiary of a good education, or even the beneficiary of your own hard work.  When it comes to estate planning, you can be the beneficiary of an estate plan and receive money passed down from a loved one.

There is no black and white rule that says you must make your family members your beneficiaries of your will. Yes it is true, you cannot entirely disinherit a spouse, but if you were planning to do that, why are you even married to that person?

If your children did not treat you right while you were alive, why hand them a stack of cash that you worked so hard to receive and allow them to enjoy the fruits of your labor when you are gone?

If you fail to plan or if your plan is invalid because you thought you would save a few dollars by drafting your own documents, you will pass away 'intestate' and the state will decide who will receive from your estate based on Florida Statutes.

With proper estate planning, you can name specific beneficiaries to receive from your estate. If you want to leave everything to charity, go for it. If you want to leave $1.00 to your brother to annoy him from your grave, go for it. If you want to treat your children differently and give them different amounts, go for it.

Be sure to be specific when drafting your estate planning documents to avoid challenges to your will. Challenges to wills by distant relatives are so common that lawyers have a nickname for those people: "laughing heirs"- as in they will be laughing all the way to the bank if their challenge succeeds. People tend to come out of the woodworks and believe that they're closer than they are and should have some claim.  

There is no need to worry about a guilt trip when you are gone. Remember, you are GONE. Do not worry about how you will make a family member feel when they realize they are not a named beneficiary in your estate plan.  Be selfish, do what you feel is right inside, not what you think others would expect of you.

To avoid challenges to your will and make sure the right beneficiaries receive from your estate, you will need to work with an experienced estate planning attorney.

If you live in Miami-Dade, Broward, or Palm Beach county contact an experienced estate planning attorney at The Hershey Law Firm at (954) 303-9468, to discuss your estate planning needs.

You Can't Predict The Future But You Can Plan For It.

WHEN THE SUNSHINE FADES, WHO WILL REMAIN?

When you are healthy you feel invincible, independent and less likely to feel sympathy for those that are ill. When you are healthy you go about your daily life; you work out, see your friends and family, enjoy the beautiful weather and ultimately just live.  

However when you become ill, life stops and you begin to view life through a different lens. Everything and everyone continues to move around you at their regular pace, and you are left by yourself to deal with your own misery. You might have some friends and family 'check in' on you, but the reality is, you are left to deal with the pain and the slow process of getting better all by yourself. 

It is not that your friends and family don't care about you, it's just that as humans, it is hard to put your life on hold to care for another when you yourself are healthy and have things you wish to do. Caring for another is somewhat a subconscious inconvenience. 

What if it is not simply a common cold, but something more severe where you require assistance from others on a more permanent basis. For instance, you are incapable of 2 daily acts of living and require the help of a caregiver. Or worse, you have become mentally incompetent to care for yourself. 

Don't assume that your spouse, your parents, or siblings will fill this role of caretaker for you (although you hope they would)  The reality is, just because life has stopped for you because of your illness, if they are healthy and able bodied they still have their own life to live and worry about.

This is why it is so important to make sure you have your Advanced Directives in place while you are healthy and able to make the decision for yourself. That includes your Durable Power of Attorney, Healthcare Surrogate and Living Will. You can even go so far as taking the burden away from your loved ones, by having a Long Term Care Insurance policy.

“Love me when I am healthy, but love me more when I am ill. Those that remain when the sunshine fades are the ones I want in my world”

Durable Power of Attorney: Name someone to manage your financial affairs either immediately or in the future should you become unable to do so yourself. 

Healthcare Surrogate: Name someone to act on your behalf if you become unable to make medical decisions for yourself.

Living Will: Document that will state how and if you want to prolong your life if you fall into a vegetative state

Long Term Care Insurance: Long-term care is care that you need if you can no longer perform everyday tasks (activities of daily living) by yourself due to chronic illness, injury or the aging process.  Long-term care is not only for the elderly. A large percentage of people receiving long-term care are under the age of 65.

“Caring for another is somewhat a subconscious inconvenience ”

You need to have an open discussion with whomever you wish to fill those roles and make sure they want to take on that responsibility for you. 

If you live in Miami-Dade, Broward, or Palm Beach contact an experienced estate-planning attorney at The Hershey Law Firm, in Fort Lauderdale, Florida, at (954) 303-9468 to discuss your estate planning needs.

REMEMBER: You can’t predict the future, but you can plan for it.
 

I WISH I COULD RECORD MY DREAMS AND WATCH THEM LATER

Do you ever wake up in the morning and you can vividly remember the details of a crazy dream you just woke up from? Then you get out of bed, start your day, drive to work, and make a few phone calls. By the time you get to work and want to tell your best friend about your dream, you realize you can't remember what the dream was even about. 

The dream obviously had some meaning to you, but without it being written down, it just slipped through your fingers and *poof* no longer exists.

“You may not be able to record your dreams and watch them later, but you can record your wishes and your loved ones can watch them fall into place when you are gone.”

 

People always say that they are 'thinking' about the perfect estate plan. They have it written in their head but it's not quit ready to be written down on paper.  They feel that once they have  come up with the perfect plan, they will write it down. Until then, ehh, it can wait for a rainy day.

Don't delay- start today. You may have forgotten what you want to happen.

What should an estate plan consist of in South Florida?

Last Will & Testament: State your final wishes regarding who will receive or who will not receive from your estate, name guardians for your minor children, state directions regarding organ donation and burial.

Revocable Trust (Living Trust): In depth document that will state your final wishes. You are able to place stipulations and retain control of your assets during your lifetime. 

Durable Power of Attorney: Name someone to manage your financial affairs either immediately or in the future should you become unable to do so yourself. 

Healthcare Surrogate: Name someone to act on your behalf if you become unable to make medical decisions for yourself.

Living Will: Document that will state how and if you want to prolong your life if you fall into a vegetative state

REMEMBER:  Your estate plan will never be perfect. Stop using the excuse that you will start planning once you know exactly how you want it written. There are so many moving parts in your life, that your estate plan will be consistently changing.

However, if nothing is written down, your wishes will not be known to your loved ones.

You may not be able to record your dreams and watch them later, but you can record your wishes and your loved ones can watch them fall into place when you are gone.  

If you live in Miami-Dade, Broward, or Palm Beach counties it is time to start discussing with loved ones their estate planning needs. You can’t predict the future, but you can plan for it.

Contact an experienced estate-planning attorney at The Hershey Law Firm, in Plantation, Florida, at (954) 303-9468 to discuss your estate planning needs.