Estate Planning in Tarpon Springs
Attorney Richard Venditti’s estate planning services include Trusts, Last Wills and Testaments, Living Wills, and both Financial and Healthcare Powers of Attorney. We help people prepare for the unexpected, including documenting your wishes for medical treatment if you experience a critical or end stage illness. We also help ensure your property and precious valuables are distributed to the appropriate people.
Last Will and Testament
A Last Will and Testament is a written document that lists the beneficiaries of your personal property, and real property, including financial assets and other valuables, as well as your wishes for the care and guardianship of your children. Without a Will, Florida Statutes determine who receives distribution of your assets. A Last Will and Testament does not take effect until after an individual has passed.
A Living Trust specifies when and how your assets are to be distributed upon the death of the Grantor. A Living Trust is revocable and can be amended at any time. With a Living Trust you personally appoint an individual or financial institution to administer your trust assets in accordance with the written provisions contained in your Trust Agreement. Florida law also allows for the creation of a pet trust which will provide for and protect your animals if they survive you.
A Living Trust takes effect the moment it is signed. However, following the execution of your trust, you will need to transfer your assets into the trust. This is referred to as funding the trust. If the trust is properly funded then, upon your death, it will not be necessary to conduct a probate proceeding. Unlike a Last Will and Testament, which becomes a public record upon the filing of a probate proceeding, your trust remains a private document which ensures that the nature of your financial assets will not be made available to the general public.
A Living Will takes effect the moment it is signed. Here you can give specific instructions about medical treatment should you become critically injured, critically ill, or you are at the end stages of an illness. The Living Will informs your loved ones of YOUR decision as to whether to remain on or terminate life support and/or receive hydration and nourishment.
Health Care Surrogate
A person, referred to as the Principal, may designate one or more persons called surrogates to make health decisions for the Principal if the Principal is unable to make health decisions on their own behalf. The surrogate is called upon to make these decisions when the Principal is unable to make their own health care decisions.
Questions about Wills and Trusts? Want to schedule an appointment at our Tarpon Springs law offices? Call us today at (727) 937-3111. We are conveniently located in Tarpon Springs, and serve clients in north and south Pinellas County, as well as Pasco County, Hillsborough County, and Hernando County and the surrounding areas. You can also Contact Us online.