Like most people in Florida, you may have heard of a power of attorney. But, do you fully understand what it is and what it can do? This document can provide you or your loved ones with important abilities in the face of unforeseen circumstances. It essentially allows one person to make important decisions on behalf of another person when that person is unable to do so. The National Caregivers Library notes that a Read More
HOW CAN A SPECIAL NEEDS TRUST HELP YOU?
If you have a minor or adult child with a disability, you no doubt have concerns about how to provide financially for your child now and after you die. Like other Florida parents, you may have heard about special needs trusts and how they can help in these situations. Understanding how these trusts, also referred to as supplemental care trusts, work is important for you. The Pacer Center is a resource for families Read More
WHAT ARE COMMON ESTATE PLANNING MISTAKES?
If you are like many other Florida residents, you might think that having a will or a trust is not necessary if you are still relatively young. Maybe you have been meaning to draft an estate plan but just haven’t gotten around to it yet. Whatever your hurdle, it is worth making estate planning a priority. The reality is that everyone can benefit from a properly created estate plan whether your estate is large or Read More
BENEFITS OF A TRUST OVER A WILL
When it comes time to discuss estate planning options, Florida residents may wish to investigate creating either a trust or a will. Both types of documents give people the ability to stipulate in writing their wishes for how assets should be handled after they die. However, the way in which a trust does this is different than the way in which a will does this. OnTheMoneyRadio.org indicates that trusts may be more Read More
WHAT CAN A HEALTH CARE PROXY DO IN FLORIDA?
According to Florida law, you may appoint someone to make health care decisions for you in the event that you become incapacitated. The law states that if you have not completed an advanced directive to designate such a person, or if you are developmentally disabled, then one of the following may be judicially appointed to be your health care proxy: Your adult child Your spouse Your Read More
HOW TO KNOW IF A CHARITABLE TRUST IS RIGHT FOR YOU
Many people in Florida can leave a legacy through making donations to charitable organizations in their estate planning. Our attorneys at Luis E. Barreto & Associates, P.A., know that setting up a charitable trust can be a wonderful way to benefit not only the organization, but also you. Here is what you need to know about exploring this option. Florida law notes that the agency you wish to benefit must be a Read More
THE BAKER ACT AND DECLARING INCAPACITY
Estate planning involves more than just deciding who gets what after you die. It is about planning for the unexpected, whether that means death, a sudden accident that leaves you with permanent brain damage, the onset of a mental illness, or a developing addiction to alcohol and/or drugs. Our attorneys at Luis E. Barreto & Associates, P.A. are often asked by family members how incapacity is declared so that the Read More
WILLS CONTESTATION INVOLVES FRAUD ACCUSATIONS
It is not uncommon for people in Miami to believe that wills are ironclad. However, it is possible for people to initiate legal action for contesting a will. Usually, people will need to show that the will was created from an undue influence such as a manipulative family member or financial advisor, that the person who made the will was not competent to make such decisions or that there was some form of fraud. One Read More
THE BENEFITS OF CREATING A TRUST FOR PETS IN FLORIDA
While people in Florida cannot leave property to a pet, they can make provisions to ensure their animal is properly cared for in the event they become incapacitated or pass away. Under the state’s law, a pet trust can be created to outline what should be done with an animal in those circumstances. These trusts are advantageous over a will, because a will’s instructions for pet care are not legally enforceable, and a Read More
UNDERSTANDING REVOCABLE TRUSTS IN FLORIDA
A living trust, also known as a revocable trust, carries advantages that are not available in a traditional will. This type of estate plan is often considered because of its potential for avoiding probate and reducing tax implications with an estate upon one's death. However, it is important to understand this method of estate planning to ensure that it is the appropriate option based on personal needs and Read More
