Blog Posts
Three Estate Planning Factors to Consider Before 2022
The current economic and political climate points to tax changes that could affect your estate planning strategy. Understanding these factors can help you make the right decisions in protecting your assets and helping to make the most of the legacy you leave for your...
Will vs. Living Trust: Which One Should I Choose?
Estate planning is about protecting your loved ones and executing your wishes after you die. Many people assume the best way to do this is through a will. However, a living trust achieves many of the same purposes with some unique advantages. What is the Difference...
What Happens to Debt When You Die in Florida?
When approaching estate planning in Florida, many people ask what happens to debt when they pass away. The short answer to this question is it depends. Your debt might pass on to your loved ones, creditors might come after your estate, or creditors could be out of...
What is a Will and Why Do I Need One in Florida?
Estate planning attorneys in Florida encounter many misconceptions when it comes to wills. To help set the record straight, we offer some examples of why having a valid will can be helpful and why it is a good idea for everyone to establish one. Recognizing the Power...
Have You Completed Your Back-to-School Estate Planning Homework?
The school season is right around the corner. If you are a parent, you have likely bought your little ones the essential items they need to get them through the school year. However, have you thought about how your kids would fare if you pass away during their youth,...
9 Major Life Events That Should Remind You to Update Your Estate Plan
An estate plan is not something you can set in place and then forget. When your life undergoes a significant change, you probably need to make some adjustments to ensure that your plan still functions the way you want. Let’s review a few major life events that provide...
Protect Your Young Adult with an Estate Plan
Most people think making an estate plan is something to do later in life, after someone has acquired considerable assets. But estate planning covers much more than just property issues. That means you should be concerned about appropriate estate planning for your...
Does a Will Help You Avoid Probate in Florida?
Wills are valuable tools for distributing property and reducing the stress on families after a loved one has passed. But does a will eliminate the need to probate an estate in Florida? The short answer is, no. Having a will can make distribution easier, but on its...
Healthcare Decision-Making Should Be Part of Your Estate Plan
Your estate plan should include critical health-related documents as well as traditional property documents such as wills and trusts. That means that preparing your estate plan will involve issues such as determining who will make healthcare decisions on your behalf...
What Happens If You Don’t Have a Will or Trust?
When you die without leaving a will, you are said to have died "intestate" and the government decides how to distribute your property according to the laws of intestate succession. These laws may or may not allocate assets in the manner you would choose. If you are...
Holding an Estate Planning “Fire Drill”
Getting your affairs in order through an estate plan is a great way to prepare for your future, but have you ever thought about how your family will follow your instructions after your death? An estate planning “fire drill” will help you and your family openly talk...
Avoid Probate by Funding Your Living Trust
Clients often create a living trust to provide for themselves and their loved ones—only to forget to fund it. Many others mistakenly believe that a trust automatically funds itself after a lawyer approves it. The truth is, you must take steps to fund your living trust...
Three Estate Planning Factors to Consider Before Year-End
With COVID-19 continuing to create an unpredictable future, it's important to consider some estate planning factors before the year's end. By thinking ahead now and knowing what to look for, you can futureproof your estate plan and further your goals for years to...
What Is Typically Included in an Estate Plan?
Your estate plan gives your loved ones detailed instructions for the distribution of your property and assets, healthcare should you need it, and financial protection. An estate plan can be a valuable tool to protect and safeguard what you’ve worked so hard to...
What Will Happen with Your Passwords, Usernames and Security Questions When You’re Gone??
Most people have thought about how their assets will be distributed when they die, yet passwords, usernames and security questions are typically overlooked. It is important to plan for the manner in which your online accounts will be handled after you pass away, as...
As your kids get ready to return to school, have you done your Estate Planning homework?
The school season is right around the corner. If you are a parent, you have likely bought your little one some new clothes, book covers, pens, paper and other school supplies. However, plenty of parents have not prepared for the possibility of prematurely...
Who Will Make Medical Decisions for You if You Can’t?
If you are suddenly unable to care for yourself physically or mentally, do you know who will make medical decisions for you? Unfortunately, many people find themselves in this position because they haven’t discussed their plan with anyone - or perhaps have a plan at...
Amy Phillips Featured on Sage Aging Podcast: Everything you need to know about estate planning
If the pandemic has taught us anything, it is the importance of life decisions such as wills and estate planning. We’ve all heard that saying “Nothing is sure but death and taxes,” but we at the Law Office of Amy L. Phillips, PLLC would argue that confusion...
FAQ: If I have a will, won’t that keep my family from having to deal with probate after my death?
No. A will is a formal legal document that contains instructions on which property or money goes to which person, but it doesn’t mean probate won’t be necessary. Your will is a set of instructions to the probate judge, telling him or her about your intentions with...
FAQ: Should I give my home to my child or add his or her name to the deed?
Maybe—but do so carefully. One of the biggest benefits of adding a child (or children) to your deed is avoiding probate. If done correctly, at your death, your children would automatically own your home, saving them the expense and time of a probate case. Avoiding...