Estate Planning

At a young age, Evan attended many funerals. He had a large family, with many relatives who were born in the earlier part of the 1900s. It became clear to him, even as a child, that death was very much a part of life.

Evan also noticed that for some family members, strife ensued after their passing, at times causing irreparable harm between family members. And yet in other instances, there were no significant family-related problems after a loved one died, only reflection and reverence.

In the former scenarios, there were difficulties between family members on even the most basic issues like transferring a car or clothing. And for the later—for those family members who had put in place proper estate planning documents—things were handled smoothly. And in the case of the family members who had trusts, their post-death matters were also handled privately.

The differences between the family members who had put in place effective estate planning documents and those who did not was obvious.

In law school, estate planning called to Evan. He gained knowledge, building on those childhood experiences. He learned how we can make sure our intentions are carried out long after we pass away. A person can control specific actions and reactions, even after they are gone. We can also control how we want things handled when we are alive, even when we are unable to communicate or express our intent in any way.

While attending law school, Evan clerked for a prominent South Florida firm. And he immediately enjoyed helping clients draft estate planning documents. As a young attorney, in 1997, he continued helping clients in this area and has helped many different types of clients since. Rich and poor. Young and old. Holocaust survivors and their families. People with special needs children. Real estate investors. Entrepreneurs. White-collar and blue-collar workers. And much more.

Evan and the Law Offices of Evan M. Rosen continue to help serve clients with wills, trusts, powers of attorney, advanced health care directives, living wills, and many other types of estate planning and incapacity planning documents. We also handle all aspects of probate administration to help identify and gather money and property, resolve claims, and formally transfer assets after someone passes.

Estate planning can be a profound act of love and responsibility. It’s about so much more than just managing your assets; it’s about protecting your loved ones, preserving your values, ensuring your wishes are honored, and creating a lasting legacy for generations to come.

Many people mistakenly believe estate planning is only for the very wealthy or the elderly. The truth is, if you have a family, own any assets, or simply have wishes for your future and the well-being of those you care about, you need a thoughtfully crafted estate plan. Our firm provides personalized and comprehensive estate planning services to clients throughout Florida, giving you and your family invaluable peace of mind.

What is Estate Planning?

Estate planning is the process of anticipating and arranging for the management and disposal of your assets and property (your “estate”) after your death. Good estate planning also includes planning for your care and the management of your affairs if you become incapacitated during your lifetime.

A well-designed estate plan helps you:

• Designate Who Receives Your Assets: Ensure your property is distributed exactly as you wish, to the people and causes you care about.
• Avoid Lengthy and Costly Probate: Streamline the transfer of assets, saving your loved ones time, money, and stress.
• Minimize Estate Taxes: Employ strategies to reduce potential tax burdens on your estate.
• Appoint Guardians for Minor Children: Securely name who will care for your children if you are no longer able to.
• Plan for Incapacity: Establish clear instructions for your financial and healthcare decisions if you become unable to make them yourself.
• Leave a Lasting Legacy: Define the impact you want to have on your family, community, or charitable causes.

Key Components of Your Comprehensive Estate Plan

A robust estate plan typically involves a combination of legal documents tailored to your unique circumstances and goals:

1. Last Will and Testament:
   • Purpose: A legal document that specifies how your assets should be distributed upon your death. It also allows you to name a personal representative to manage your estate and designate guardians for any minor children.
   • Importance: Even if you have a trust, a “pour-over” will is often essential to ensure all assets are eventually transferred into your trust. Without that, any assets not properly held in trust at the time of your passing will be distributed according to Florida’s intestacy laws, which may not align with your wishes.
2. Trusts:
   • Purpose: A legal arrangement where a “grantor” or “settlor” creates a contract where a “trustee” (often the same person as the grantor or settlor initially) holds and manages assets for the benefit of “beneficiaries.” Trusts are highly versatile tools for various planning goals.
   • Common Types & Benefits:
     • Revocable Living Trusts: Allows you to maintain control of your assets during your lifetime, avoid probate upon your death, and manage assets if you become incapacitated.
     • Irrevocable Trusts: Offer advanced planning benefits such as enhanced asset protection from creditors, significant estate tax reduction, and planning for specific needs like special needs beneficiaries or charitable giving.
     • Testamentary Trusts: Created within a will and only take effect upon your death and after probate.
   • Key Advantages: Probate avoidance, privacy, control over distributions, asset protection, and potential tax savings.
3. Powers of Attorney (POAs):
   • Purpose: A legal document that allows you to designate an agent to make financial and legal decisions on your behalf, so long as you are alive.
   • Importance: Crucial for managing your affairs if you become incapacitated due to illness or injury, avoiding the need for a court-appointed guardianship.
   • Types: Often “durable” to remain effective even if you become incapacitated.
4. Advance Directives for Healthcare:
   • Living Will: A legal document stating your wishes regarding medical treatment, particularly end-of-life care, in specific circumstances (e.g., terminal condition, persistent vegetative state).
   • Designation of Healthcare Surrogate: Appoints a trusted individual to make medical decisions for you if you are unable to communicate your wishes.
   • Importance: Ensures your healthcare preferences are honored and relieves your family of difficult decision-making during a crisis.
5. Beneficiary Designations:
   • Purpose: For assets like life insurance policies, retirement accounts (401k, IRAs), and annuities, beneficiary designations dictate who receives these funds directly, outside of your will or trust.
   • Importance: These designations typically supersede your will or Trust, making it vital they are coordinated with your overall estate plan.

Our Approach

At the Law Offices of Evan M. Rosen, P.A., we understand that while asset distribution and asset protection is often the primary driver behind estate planning, it is about so much more.

• Incapacity Planning: We build comprehensive plans to manage your personal and financial affairs seamlessly if you’re ever unable to do so yourself, protecting your wishes and reducing family stress. This includes using powers of attorney and advance directives.
• Legacy Planning: Good estate planning must include legacy planning. There are several ways to preserve and pass on your values, memories, experiences, and wisdom.

The Estate Planning Process with Our Firm

We make the estate planning process clear, collaborative, and tailored to you:

1. Initial Consultation: We begin by listening carefully to your goals, understanding your family dynamics and assets, and discussing any unique concerns.
2. Personalized Strategy: Based on our discussion, we recommend a customized estate plan utilizing the most appropriate legal tools to achieve your specific objectives.
3. Meticulous Drafting: We carefully draft all necessary legal documents, ensuring accuracy, clarity, and compliance with Florida law.
4. Execution & Funding: We guide you through the proper signing of your documents and assist with the crucial step of “funding” your trust (transferring assets into it) to ensure your plan works effectively.
5. Ongoing Review & Updates: Life is dynamic. We encourage periodic reviews of your estate plan and will reach out yearly to keep in touch. Not only might your assets and goals change, the law may also change.

Why Choose the Law Offices of Evan M. Rosen, P.A. for Your Estate Plan?

Choosing the right legal partner for your estate planning needs is a crucial decision. Clients choose our firm for:

• Tailored Solutions: We reject one-size-fits-all approaches, crafting plans that truly reflect your unique life and goals.
• Comprehensive Expertise: Our knowledge spans all facets of estate, incapacity, and legacy planning, ensuring all bases are covered.
• Clear and Compassionate Guidance: We demystify complex legal concepts and provide support with empathy and understanding.
• Future-Focused Planning: We anticipate potential challenges and design plans that stand the test of time.
• Local Florida Knowledge: With our understanding of Florida estate and probate laws, we provide relevant and effective solutions for our community.

Take the First Step: Secure Your Legacy Today

Don’t postpone the peace of mind that comes with a well-structured estate plan. Protecting your loved ones and your legacy begins now. Contact the Law Offices of Evan M. Rosen, P.A. today to schedule a confidential consultation.

Our law firm is based in Broward County, and we help people throughout Florida with estate planning, mortgage foreclosure defense, real estate closings, probate and trust administration, and accidents and injuries. If you or someone you know needs help in any of those areas of law, contact us today. Let the Law Offices of Evan M. Rosen serve you!