Living Will

March 12, 2008

Free Combination Living Will, Designation of Health care Surrogate and HIPAA Release

The other day, I wrote an article on the pitfalls of using a Free Florida Durable Power of Attorney. I have been thinking of a way to provide a good power of attorney for my readers. I have been unable to come up with a generic form that I feel comfortable publishing because of the huge liability associated with the Power of Attorney in Florida. Perhaps I will figure a way to accomplish this in the future. In the mean time, I have created the second most important document to any Florida Estate Plan – the Combination Living Will, Designation of Health care Surrogate and HIPAA Release.

You may ask what is a Combo Living Will and how is it different than my existing document. The biggest difference is that this document contains a HIPAA release which is necessary for your agent to obtain medical records, and the power for your agent to make decisions when you are unable to.

Many lawyers provide these as 3 separate documents. I find that my clients like to have them in a single document because it avoids the ability for your agent to show one or more but not all of the documents to achieve their desired results and circumvent yours. By having a single document you can make sure the objectives of Florida Living Will are preserved and consistent with any actions taken by your medical agent.

February 8, 2008

Britney Spears Not Competent Enough to Hire Lawyer

by David M. Goldman

Britney’s dad had was appointed as conservator of her person and co-conservator of her estate, which means her dad is now in control of what Britney can do, who she can see, and he’s controlling all access to her bank accounts and credit cards.

Over the weekend, Britney attempted to hire her own lawyer to fight her dad’s attempt to take over her personal and financial affairs.

But, the Court refused to recognize Andrew Streisand as Britney’s lawyer because the court-appointed lawyer assigned to evaluate Britney said that Brit doesn’t have capacity right now to hire her own lawyer.

January 15, 2008

Class Action Suit Against Living Trust Sellers

by David M. Goldman

A number of Texarkana residents have filed suit against sellers of living trust documents in a class action accusing the salesmen of exploiting senior citizens. This is similar to what I reported happening in California in December.

A Plaintiff says he purchased a living trust after attending a lunch presentation at a restaurant. He states the document was misrepresented and that if he dies with only these estate-planning documents, his estate will still need to be probated because the living trust failed to factor in his real property in Arkansas.

The living trust sellers are facing allegations of “masquerading as qualified financial advisers, estate planners, lawyers, and paralegals” to “exploit and prey” upon senior citizens with the creation and selling of “unnecessary and often useless” living trusts.

January 13, 2008

Leaving IRA Money to a Minor

by David M. Goldman

Fox Business has an article on A New and Smart Way to Leave Your IRA to a Minor where they discuss the importance of reviewing beneficiaries on all acounts including insurance, annuities, and retirement plans.

They discuss leaving a percentage of the account rather than a dollar amount as this can cause complications if there are not enough assets in the account.

“If you don’t name someone in your will to act as “financial guardian” for your granddaughter, then your IRA will end up in probate court with a judge making the decision. And it might not be the person you’d want. (Your son-in-law, for instance.)”

December 25, 2007

Florida Powers of Attorney (Part 5 HEALTH CARE AND THE POWER OF ATTORNEY)

by David M. Goldman

What is the relationship between a Declaration of Living Will and Power of Attorney?

A declaration of living will specifies a person’s wishes as to the provision or termination of medical procedures when the person is diagnosed with a terminal condition, has an end-stage condition, or is in a persistent vegetative state. A living will and a health care surrogate designation are termed “health care advance directives” because they are made in advance of incapacity and need. If a person is unable to understand or unable to communicate with a doctor, a living will is a legally enforceable method of making sure the person’s wishes are honored. Whether or not a person has a living will, a person’s attorney-in-fact may make health care decisions if the Durable Power of Attorney specifically gives this right.

What is a Health Care Surrogate Designation and how does it differ from a Power of Attorney?

December 20, 2007

Reducing Estate Taxes with a Family Limited Parnerships in Florida

by David M. Goldman

Stephanie Loomis-Price has recently published her articles entitled Family Limited Partnerships.

In her article, Stephanie offers a detailed outline of the Family Limited Partnership – from consideration of the FLP as an appropriate estate planning tool, through the formation of the partnership, concluding with the administration of the partnership and tax compliance issues.

Family Limited Partnerships are used in Florida Estate Planning when the assets are in excess of the death tax exemption. If you have a large net worth and require structure to help reduce the 45% estate tax rate, you should contact a Florida Estate Planning Lawyer to discuss a Family Limited Partnership.

December 11, 2007

Estate Planing is Not a One Time Event

by David M. Goldman

When was the last time you sat down with someone to review your Floria trust, Florida will, Florida power of attorney, health care directive, and other documents intended to make sure that your assets will be managed and distributed according to your wishes? If it has been longer than a year, you are probably overdue for an estate planning check-up.

Changes in your assets

Acquiring different of assets or changes in the value of the assets may require Estate Planning that was not anticipated.

November 13, 2007

Discussing Your Estate Planning With Your Children.

by David M. Goldman

Leanna Hamill with the Massachusetts Estate Planning and Elder Law Blog wrote an article on Estate Planning titled Should You Discuss Your Plans with Your Children?

In the article she discusses the fact that clients often wonder if they should share their estate plans with their children. In giving her expected advice of IT DEPENDS, Leanna explains some of the reasons why one should and should not disclose their plans. These deal with the way the property is split between the beneficiaries, who will be the PR, Executor, or Trustee, unfit children, issues of disinheritance, and special provisions for one child.

For more insight on these issues read her article or speak with your Florida Estate Planning Lawyer about your particular situation. While you may have not considered the ramifications and ways to approach your specific issues, an Experienced Florida Estate Planning Attorney has.

November 6, 2007

FLORIDA ESTATE PLANNING AND THE RECENTLY DIVORCED CLIENT

by David M. Goldman

Wills

•A new Florida will is almost always advisable for the divorced client, especially if there are minor children.

•Florida Statute section 732.507 generally provides that after the dissolution the provisions for the former spouse in the will are treated as if the former spouse died at the time of the dissolution of the marriage.

• A subsequent marriage, birth, adoption, or divorce will not revoke a Florida Will.

November 4, 2007

Florida Domestic Partners Estate Planning: More important than you would think

by David M. Goldman

In Florida Domestic Partners need the help of a Florida Estate Planning Lawyer to handle their complex situations. Domestic partners are considered any two people no mater what sex who live together and what each other to benefit in the event of the subsequent death of the other.

Without a valid Florida Will or Valid Florida Estate Planning Documents the domestic partner will not receive any portion of the others estate upon their death. The Florida intestate statutes do not provide any benefits for a domestic partner.

If one creates an invalid Floria Will using software or a form, the Florida statutes provides benefits to the spouse and children of the deceased. Although the decedent’s desires may not be complied with completely. Their family, who is usually the intended beneficiary, will receive the proceeds from the estate. This is not true with domestic partnerships. The domestic partners will receive nothing from the decedents estate.