Wills & Trusts

Having an estate plan in place assures that your wishes are carried out after your death. A clear estate plan is also a gift to your family because they know how "mom or dad wanted things.”

WILLS

In a Will, an individual names the beneficiaries whom he or she wants to inherit assets and designates a personal representative (Florida’s term for an executor) of his or her choosing to administer the probate estate.

If there is no valid Will, or if the Will fails in some respect, Florida law dictates who inherits the assets. Florida law is complicated and it is best to review these rules with a Florida lawyer.
 
For a young family, the Will also designates the guardian for minor children and can set up a trust to handle money available to care for the children.

TRUSTS

Revocable Trust: A revocable trust is a document created to manage your assets during your lifetime and distribute the remaining assets after your death. The trust is called "revocable” since you may modify or terminate the trust during your lifetime, as long as you are not incapacitated.
 
In addition to revocable trusts there are several other types of trust applicable to specific situations, such as a special needs trust, life insurance trust, and trusts for grandchildren.
 
Please contact Carrie Lavargna regarding your specific needs and to determine the appropriate course of action for you and your family.