In Coral Gables, estate planning refers to the procedure of deciding what should be done with one's assets after their death.

The problems that estate planning raises are sometimes very convoluted. Without competent legal and financial advice, many problems can pop up, which can quickly throw your entire plan into disarray, and cost your survivors a great deal of time, energy, and money.

In the process of estate planning, you'll likely also deal with issues that can affect you during life. These include issues like power of attorney (to ensure that your wishes are carried out even if you're unable to express them), as well as instructions to your doctors and family regarding medical care. A reliable estate planner can also help you achieve your goals, while minimizing the effects of expenses like court fees and taxes.

If you want to maximize the odds that your wishes will be followed after your death, you should do everything you can to make them legally binding. While this is not always possible, a Coral Gables attorney will be able to make sure that, where it is permitted, it is done.

Common Features of Coral Gables Estates

Will: This is a legal document which transfers ownership of the testator's (the person making the will) property to named beneficiaries after the testator's death. The beneficiaries can be just about anyone the testator chooses, but smaller estates, usually only include family members, and maybe very close friends. If you want, you can place conditions on gifts (say, leaving a certain amount of money to your son, but only if he graduates college before he turns 25 - this is just an example). However, a will can't actually compel anyone to do anything, and some conditional gifts won't be enforced, normally because they involve an illegal act, or require a person to marry or refrain from marrying a particular person.

Living Will: Unlike ordinary wills, a living will contains instructions regarding a person's medical care. Some recent high-profile controversies have illustrated the importance of making a living will, even for younger individuals. In a living will, you can give your family members and doctors instructions about your desired medical care, in case you become incapacitated (comatose or brain-dead, for example) and can't tell them yourself. Some people say that they would not want to be kept alive by artificial means if they are in a vegetative state, and there's no chance of recovery. If this is you, that's definitely something to include in a living will. Of course, if you would prefer the opposite, being kept alive as long as is medically permitted, you can put that in your living will, as well.

Power of Attorney: What if you become incapacitated, and can't make your own decisions? It would be nice if somebody knew what you would want in a given situation, and, on top of that, had the legal authority to make that decision for you. Power of attorney lets you do precisely that, granting a person of your choice the ability to make certain decisions for you, in case you, for whatever reason, can't (you can, of course, control the scope of power that you grant).

Funeral Arrangements: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very particular wishes regarding the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are normally not read for quite some time after a person dies, and the funeral is typically long over by then, so it will be too late to follow your instructions.

Do I Need a Coral Gables Estates Lawyer?

A poorly drafted or executed Coral Gables estate plan can have major negative consequences. For instance, it might be confusing to the people who are most directly affected by it. This confusion can frequently lead to costly litigation. For that reason, the guidance of an efficient estate planning attorney can be invaluable.

Life in Coral Gables