Palm Coast Estate Planning Lawyer

Estate Planning Attorney in Palm Coast, FL

Planning an estate can bring up a lot of complex emotions for an individual. It can be difficult to think about death, causing you to procrastinate on estate planning. You may feel like you’re not in control of what happens to your assets after you pass away, but estate planning can actually help an individual maintain control of their belongings, even after they die. Working with a Palm Coast estate planning lawyer can help streamline the process and ensure legal validity.

Experienced Estate Planning Lawyers in Palm Coast, Florida

Having a lawyer you can trust during estate planning is everything. They’ll be the ones to not only help you draft your documents, but also to help carry out your wishes after you pass away.

It’s common for estate lawyers to work with multiple generations of a family, and here at the Law Office of Douglas A. Oberdorfer, P.A., we’ve been able to build a connection with the Florida community since 2003.

Douglas Oberdorfer has been practicing law for over 20 years. He understands the inherent emotions involved with an estate plan and helps his clients through some of their most difficult times. Compassion is at the forefront of every client meeting. We offer free consultations to individuals and their families throughout Florida.

What Is Probate?

Probate is the official legal process that happens after someone passes away. It helps collect and distribute the person’s assets to their heirs. Florida has two main types of probate:

1. Formal administration. This type is the most common and is used for larger or complex estates. Florida is a common place to retire, with the average age of residents being 42.7 as of 2021. These residents often have more assets that require careful handling.
2. Summary administration. This type can be used for estates that are valued $75,000 or less, or when the person has been dead for more than two years.

For Palm Coast residents, probate is typically overseen by the Kim C. Hammond Justice Center, located at 1769 E. Moody Boulevard in Bunnell. Probate can be costly and lengthy, making it difficult for loved ones to manage. With court interference and no estate plan, your assets may not be distributed according to your wishes. When a person passes away in Florida without a will, the estate goes to the closest living relatives:

• If there’s a surviving spouse with or without children, the spouse gets the entire estate.
• If there are children from a different relationship, the assets are split between everyone.
• If there are no spouse or children, the estate may go to parents, siblings, or more distant relatives.

An easy way to ensure your wishes are followed after you pass away is to create an estate plan.

Components of an Estate Plan: Will

An estate plan is a collection of legal documents that entails how you want your estate to be handled after you pass away or what will happen if you become incapacitated.

A will is most commonly thought of during an estate plan. It outlines how you want your assets to be distributed. With the average Palm Coast household income being $71,840 in 2023, where that money goes is vital. Assets can include:

• Real estate
• Collectibles
• Personal belongings
• Bank accounts and cash
• Investments
• Retirement accounts

A will also names a personal representative of your estate. A personal representative is the person who carries out the will’s instructions after you pass, and that responsibility should be designated to a trusted individual. They’ll be legally required to identify and collect your assets, pay off any debts or taxes with those assets, and distribute what’s left over to the beneficiaries you name in your will.

To be considered legally valid, there are rules you must follow while creating your will: 

1. You must be of sound mind when drafting the will.
2. The will must be in writing and exist in a physical format.
3. You have to create it of your own volition, with no force or coercion.

It’s important to hire an estate planning lawyer to help you draft your legal documents. They’ll understand Florida’s complex estate and probate laws, giving you peace of mind.

FAQs About Estate Planning in Palm Coast, FL

What Is a Living Will?

A living will states your wishes for any end-of-life medical treatment. This document is only valid if you’re unable to speak for yourself, such as on life support. To take effect, the doctors in charge of your care must agree that your condition is terminal. It’s essential to give a copy of your living will to your doctor so it can be added to your medical records.

What Is a Designation of Health Care Surrogate?

A designation of a health care surrogate names a trusted individual to ensure your medical treatment wishes are respected if you can’t speak for yourself. If you don’t have a living will or you haven’t made your wishes known to them, they’ll be able to make decisions based on what they believe is the right choice for you.

What Is a Revocable Living Trust?

A revocable living trust is a legal document that allows you to put assets into a trust that can avoid probate after you pass away. Assets placed in a will have to go through probate, and a trust can save your loved ones time and money. You’ll be able to manage your assets while you’re alive and pass them directly to your beneficiaries after you die. You can change or cancel the trust at any time.

What Is a Power of Attorney?

A power of attorney gives a trusted individual the responsibility to act on your behalf. This usually happens if you become incapacitated or are unavailable. This authority can be given for tasks like selling a home, handling your bank accounts, or signing contracts on your behalf. In Florida, most powers of attorney end when the person who named them passes away, revokes their title, or when the specific task for which it was created is complete.

Hire an Estate Planning Lawyer That You Can Rely On

When you work with us, there’s no judgment. At the Law Office of Douglas A. Oberdorfer, P.A., we pride ourselves on our empathy and discretion. Contact our team today to schedule your first free consultation. We help clients throughout Florida feel in control of their futures.

Palm Coast, FL Estate Planning Resources

• Why is Estate Planning Important in Florida?
• How Much Does Estate Planning Cost?
• Florida Estate Planning Checklist
• Estate Planning vs Will vs Trust
• What is The Role of An Executor in Estate Planning?
• How Long Does An Executor Have To Settle An Estate
• How To Choose an Estate Planning Attorney in Florida?
• Estate Planning for Retirees in Florida