Estate Planning 101: What Every Floridian Should Know

Estate Planning 101: What Every Floridian Should Know

Estate planning might sound like something reserved for the wealthy or elderly, but the truth is: if you have a life, you have an estate — and you should have a plan. Whether you're 35 or 75, estate planning gives you control, peace of mind, and protection for the people you care about most.

1. What Is Estate Planning, Really?

Estate planning is the process of organizing your personal, financial, and medical affairs in case something happens to you — whether that’s illness, incapacity, or death. It ensures your wishes are followed, your loved ones are protected, and your estate avoids unnecessary legal complications.

2. Wills vs. Trusts: What's the Difference?

• A will is a legal document that outlines who should receive your property after you pass. It can also name guardians for your minor children. However, it must go through probate — a public, court-supervised process that can take months (or more).

• A revocable living trust can help your estate avoid probate altogether. Assets placed in the trust during your lifetime can be transferred smoothly to your beneficiaries without court involvement. It also provides privacy and greater control, especially in cases of disability.

3. The Role of Power of Attorney (POA) and Healthcare Surrogate

These documents give someone you trust the legal authority to act on your behalf if you become incapacitated.

• Durable Financial Power of Attorney – Allows someone to handle your financial matters (like paying bills or managing investments).

• Healthcare Surrogate Designation – Also known as a medical POA, this allows a trusted person to make medical decisions for you if you're unable to do so.

4. Why You Need More Than Just a Will

Many people stop after writing a simple will, but that’s just one piece of a complete plan. A solid estate plan also includes:

• Living Will

• Designation of Healthcare Surrogate with HIPAA Authorization

• Beneficiary Designations

• Asset Titling Review

·        Revocable trust

·        Power of Attorney

5. Common Mistakes to Avoid

• Procrastinating

• Forgetting to update when there are life changes or relationships change with family

• DIY disasters or using cheap online forms/servies

6. Final Thoughts: Estate Planning Is About Life, Not Death

Estate planning isn't just about what happens after you're gone — it’s about making life easier for the people you love, protecting your choices, and avoiding unnecessary legal headaches. Think of it as an act of love and responsibility.