Wills and Trusts

We encourage our clients of all ages to think about having a living will and a will for after they've passed. Far from being a morbid exercise, these documents give you the confidence that your wishes will be carried out as you desire.

A living will expresses your wishes in no uncertain terms when you're unable to speak for yourself during an illness. You can stipulate whether or not to be resuscitated, who is to act as your representative in this decision, and includes the relevant language for hospitals and your doctor.

A will is a vastly more flexible and personalized document. You can specify your funeral arrangements, how your property and assets should be disbursed, and what happens to anything you haven't mentioned. You can also name your executor, or the person who will be in charge of following your wishes.

The process of this disbursement and the laws that govern it fall under the area of trusts and estates. If you're looking for advice on your estate planning and the writing of your will, please do not hesitate to contact our experienced and courteous attorneys. We're here to help.

FLORIDA ESTATE PLANNING:

Florida Estate Planning is important for everyone regardless of age or financial status. An Estate Plan is a written expression of how you want your assets to be preserved when you are alive,
and where they will go after your death; in addition to who will make decisions for you in the event of incapacity, incompetence, or disability.

While creating a proper Florida Estate Plan, it is imperative that you work with a Florida Wills and Trusts Lawyer, Florida Estate Planning Attorney, Experienced Florida Financial Planner, and a Florida Certified Public Accountant.  At Dorcey Law, we work hand in hand with other professionals in Lee County, Collier County, and Charlotte County to make sure you get the Estate Plan you need.  Schedule a consultation today!

PROTECTION WHILE YOU ARE LIVING:

Proper Estate Planning is something that should not be taken lightly, and should not be entered
into without working with a Florida Estate Planning Attorney.

Most people fall victim to the fallacy of hearing the words, "Estate Planning", and interpreting
that to mean only after death planning (Will or Trust).  

Each person needs to make sure they are protected adequately under the laws of the state of
their domicile. Even though the IRS allows for you to take deductions, it does not force you to
take each deduction.  This is the same for decision making upon your incapacity or disability in
the state of Florida and Lee County.  Florida guardianship laws allow for you to protect
yourself, and make decisions before you are deemed incompetent or disabled.  

For this reason, each Florida resident should have the following documents prepared for them
by a Florida Estate Planning Attorney while they are alive and competent:

• Florida Durable Power of Attorney;
• Florida Health Care Surrogate;
• Florida Living Will;
• Florida Pre-need Guardian; and
• HIPAA Waiver.

To schedule a consultation with a Fort Myers, Florida, Estate Planning Attorney contact us
today!

FLORIDA SIMPLE LIVING TRUST Vs. WILL/PROBATE/COSTS:

Often times we are asked why someone should have a Florida Living Trust prepared for them
instead of a Florida Last Will and Testament. There is no right answer to this question, as each
situation will require a separate review of your individual needs, wants, and desires.  

Nevertheless, a Florida Living Trust is an important document that can Avoid Probate in the
State of Florida upon your death.

The Florida Probate process is the process of proving your Last Will and Testament, and it is a
very time consuming process (Most people have had more than one Will drafted in their
lifetime). Your Executor/Personal Representative will be required to provide the court with a list
of all your assets as well as debts. Once the court has determined which Will is in fact your Last
Will and Testament, each asset must be appraised, and all debts must be paid prior to asset
distribution (including the Probate Attorney).  

The average length of Probate in Lee County, Florida is 18 months and costs up to 6-10% of
your GROSS Estate.

What does this mean to you?

It means that your heirs will not receive their inheritance until the probate process has been
completed. Which means they will not receive their inheritance on average until 18 months after
your death.  The cost of probate will be based on your gross estate (a list of all assets at their
Fair Market Value (FMV)  at your death).  This means even if you have a mortgage on your
home, Probate costs will be based on the whole amount, not just on your built in equity.

For example, lets say Mrs. Smith comes into our office with the following simple estate.

Assets:
House FMV                                = $165,000
Car FMV                                    = $18,000
Bank/Savings Account FMV        = $2,000
Personal Effects FMV                  = $10,000
Household Furnishings FMV        = $7,000
Gross Estate                                 = $300,000

Debts/Liabilities:
Mortgage                                    = $100,000
Car Loan                                     = $10,000
Credit Card                                 = $10,000
Medical Bills                                = $20,000
Total Liabilities                            = $140,000

Gross Estate                                = $300,000

Debts                                          = $140,000

Net Estate                                 = $160,000

Even though her NET Estate is only $160,000 Probate costs are valued on your
GROSS Estate NOT your NET Estate.  

For this reason at 10% of the GROSS Estate (average Probate Cost) Mrs. Smith's
Probate cost would be $30,000.  This would in fact be 18.75% of her Total NET Estate.

A Simple Florida Living Trust Package prepared by our office would cost considerably less,
and the beneficiaries could receive their inheritance immediately after death, instead of waiting
18 months.  A Properly drafted and fully funded living Trust is a way to prepare for your estate
to pass on to the next generation smoothly, without delay, and keep the estate private.

Avoid Probate, schedule a consultation with a Florida Living Trust
Attorney in Lee County or Fort Myers, Florida. Call Today!

COMPLEX FLORIDA LIVING TRUST:

A Complex Estate Plan is for larger estates that need more planning and protection. A Complex
Trust (Commonly known as an A-B Trust) not only avoids probate, but also allows for a
married couple to take advantage of two Federal Estate Tax Exemptions ($3.5 Million Per
Person in 2009, $0 in 2010 and $1 Million in 2011).

A Complex Estate Plan can vary depending on the size of your estate, as well as your desires.  
Your Estate Plan can be created to provide for Blood Line Trusts, Charitable Gifting, Wealth
Replacement Trusts, Income for Life to a Child, Grandchild or Spouse, Special Needs
Distribution, Family Limited Partnerships to pass on a Family Farm or Family Business, in
addition to many other Estate Planning and Federal Estate Taxation tools that are available.  

Avoid Probate, schedule a consultation with a Florida Living Trust Attorney in Lee County or
Fort Myers, Florida. Call Today!

FLORIDA PROBATE:

Sometimes it is too late to Avoid Probate, and the Estate must be settled by the Probate Judge.  
If you are the Executor/Personal Representative or Family member of a Florida Estate that
needs competent counsel through the Florida Probate Process; please contact us today to
schedule a Consultation.

FLORIDA ESTATE PLANNING DOCUMENTS:

The following documents and services are examples of what The Dorcey Law Firm can provide
for you and your family; please contact us today to schedule a consultation:

• Florida Simple and Complex Wills
• Florida Revocable/Living Trusts
• Florida Special, Limited, and Durable Power of Attorney
• Florida Health care Surrogates/ Proxy
• Florida Living Wills/ Florida Health care Directives
• Florida HIPAA Waivers
• Florida Pre-Need Guardian Declarations
• Probate Avoidance in Florida
• Emergency and Full Florida Guardianship Proceedings
• Florida Trust Administration and Florid Estate Administration
• Florida Pre-nuptial and Florida Post-Nuptial Agreements
• Charitable Trusts
• Florida Dynasty Trusts
• Florida Irrevocable Trusts / ILITS / GRATS / GRUTS
• Generation Skipping Trusts
• Qualified Income Trusts
• Family Limited Partnerships
• Medicaid Personal Service Contracts
• Special Needs Trusts
• Florida Medicaid Trusts