How many seniors in Tallahassee and the state as a whole are participating in estate planning?
A trust is a way for an individual to pass on their money in a way that minimizes taxes as well as offers other benefits as part of a well-crafted estate plan. It allows the senior to precisely control when and to whom financial distributions of their assets will be made. The IRS conducted a study of the number of Florida returns filed that included simple or complex trusts, and the results were as follows:
Trusts are agreements that can be put together by your loved one and their estate planning lawyer in Tallahassee or Thomasville. They usually avoid probate, so the beneficiaries may have access to the assets sooner than they might if your senior used a traditional will. Trusts can also protect your loved one’s wealth from their heirs’ creditors or from financial mistakes that may be made by beneficiaries who are not adept at money management.
What should caregivers in Tallahassee know about the prevalence of advanced directives?
Advanced directives are documents that indicate what your loved one wants to happen should they become incapacitated. They are a loving document to file because they take the burden of choice off of the senior’s adult children during a stressful time. They include statements of the senior’s values and beliefs and guidelines as to whether they want to be kept alive by machines or allowed to die naturally. Below, you can see the percentage of Americans in different circumstances who have advanced directives.
Percentage of Americans with advanced directives
Percentage of Americans with advanced directives
For end-of-life care (under age 65)
For end-of-life care (over age 65)
For end-of-life care (currently in a nursing home)
If your loved one doesn’t have an advanced directive, you should definitely encourage them to meet with a Thomasville or Tallahassee estate planning attorney and write one up. Otherwise, you don’t know what will happen if they become incapacitated. If they also don’t have someone named as their power of attorney, their adult children could disagree on what medical care should be given, which could go to court, and it could cause a family mess. With an advanced directive, everybody knows what your senior wants, and their wishes will be respected even in times of crisis.
How to choose the best estate planning attorney in Tallahassee
Start your search by choosing a few likely candidates from the listings. To begin narrowing them down, find out who is willing to provide recent references. If anybody is not, you can eliminate them from consideration. Then go more in-depth into their experience. Find out which estate planning attorneys have the experience they would need to understand your loved one’s unique situation. Finally, who does your loved one feel most comfortable with? This is an important consideration as they will be working closely together on the most serious issues. Your loved one should feel listened to, cared about, and respected by their Tallahassee estate planning attorney. For further information, check out our comprehensive guide to choosing an estate planning attorney.
Estate planning solutions for Tallahassee seniors
As sad as it may be to discuss your loved one’s end-of-life plans, it is essential that they get their affairs in order so that they don’t leave behind a big mess for you and other family members to sort out. By helping them find estate planning services in Tallahassee, you are giving everyone in the family peace of mind, including the senior involved. Use our listings to begin your search today.