Proper estate planning is a must for Florida families. The worst-case scenario is that a family member becomes incapacitated, without the legal structure in place for their family to make decisions and handle their affairs. Then, the family may end up struggling to provide them with the care that they need.
Have medical arrangements made
The consequence for not planning at all is that a family may end up in a guardianship proceeding in court. Then, they will lose control over the ability to make decisions. A judge will appoint a guardian who acts for the incapacitated person. This situation can and should be avoided. It will cause needless stress for a family during a difficult time. This can all be avoided by having the right powers of attorney in place ahead of time. This includes a medical power of attorney and a living will to dictate end-of-life care decisions.
How a revocable trust could help
You also need to prepare financially for possible incapacity. One way that a will can be challenged is by alleging that someone lacks the capacity to sign a will. This is why you need sound estate planning well in advance. You never know when you will need it, and it will be too late. One way to do this is by establishing a revocable trust that will allow you to control your assets until you can no longer do so.
Set up a will
You should also consider the rest of your estate planning, even if you do not need to set up a trust. You may also lose the ability to sign a will when you become incapacitated. This could cause major problems for your family in the future when they need to handle this in probate.
