Is it time to talk to a lawyer about preparing an estate plan? It’s a simple “yes or no” question, but many people struggle with the answer. They assume that that estate planning is only for the elderly (and the wealthy), and they question whether it is worth the cost to go through the process. They worry that their circumstances could change, and they don’t know what would happen if they got married, got divorced, had children or lost a loved one after putting an estate plan in place.
While many of these are legitimate considerations, the reality is that the answer to the question is indeed very simple: If you do not have an estate plan, it is time to talk to a lawyer. Everyone should have an estate plan, and a well-crafted estate plan will provide the flexibility you need to make changes as the circumstances in your life change over time.
Let’s Talk about Your Estate Plan
Attorney Emmanuel Miguelez is an experienced estate planning lawyer who focuses on advising and representing clients in the Miami area. He works closely with individuals and families to develop estate plans that are custom-tailored to their individual, and has particular experience working with blended families and others with unique personal and family circumstances. Mr. Miguelez is sensitive to the financial considerations involved in hiring an attorney, and they offer simple, straightforward solutions designed to cost-effectively meet their clients’ needs.
Preliminary Considerations When Preparing an Estate Plan
While there are several different estate planning tools available – wills, revocable and irrevocable trusts, and powers of attorney to name a few – when approaching the estate planning process, it is important not to focus on one particular solution. At some law firms, if you say, “I need a will,” they will prepare you a will. If you say, “I want to establish a revocable living trust,” they will help you put a trust in place.
At Miguelez Law, we take a different approach. We will ask you questions, actually listen to your answers and get to know you personally so that we can offer an estate planning solution that best fits your individual needs. Our goal is to provide you with an enduring estate plan that will be there when you and your loved ones need it—without imposing unnecessary burdens and limitations during your lifetime and after you pass away.
When we sit down with you for your free initial consultation, we will begin the process of gathering the information we need in order to recommend the estate planning tools that are right for your personal situation. Some of the types of questions we will ask include:
• Do you want to make any pre-arrangements for your funeral or burial?
• How do you want your assets to be distributed after your death?
• Who do you want to be responsible for managing your final affairs?
• Who do you want to make medical decisions on your behalf (if you are unable to make them independently)?
• Who do you want to care for your children and any adults with incapacities in your care?
For example, for many of our clients a revocable trust, also commonly referred to as a living trust, is the ideal estate planning solution because of the privacy and efficiency it affords to families. The privacy and efficiency aspects of the trust are directly tied to the trust’s ability to help the Settlor (the person making the trust) and the beneficiaries (the individuals receiving assets from the trust) avoid Probate court and the associated attorney’s fees and costs that are connected with the Probate process. The revocable trust also provides great flexibility for our clients, as it allows the settlor to amend the trust - adding or withdrawing assets -as needed during the span of his or her life. Is this the right estate planning tool for you? We can’t say yet. Schedule a free consultation with our attorneys to determine the most appropriate plan for you and your family.
Schedule a Free Estate Planning Consultation at Miguelez Law. If you are ready to get started, we encourage you to schedule your complimentary initial consultation. To speak with one of our experienced Miami estate planning attorneys in confidence, please call (305) 967-7412 or contact us online today.