FAQ’s

Estate Planning doesn’t have to be expensive. And it’s not…

Please call Attorney Walter Sowa, III for any questions you may have at (941) 840-0820.

Estate planning, for all practical purposes, is really just the organization of your personal and financial affairs for the time when you pass on. No more, no less. And that is what I do… I craft, with the involvement of the client, a custom-made estate plan that provides for the disposition of personal and real property in the method and manner in which the client desires.

Normally the goal of any good estate plan is to plan for the orderly transfer of personal and real property in the most tax efficient manner (so that the beneficiaries get the most benefit) while avoiding the Probate as much as possible (so as to lessen the intrusive and unnecessary involvement by the beneficiaries in probating your estate). But it can be so much more.

Your Estate Plan can and should…

• Clearly define and present the instructions needed in the event you become disabled, along with the authority for someone to act upon that on your behalf.
• Provide for who will care for your children if an unfortunate event happens…someone who will raise your children with the values important to you
• Provide and/or include life insurance to provide readily available liquid assets for your loved ones.
• Provide for your family members with Special Needs, all the while making sure they still qualify for government benefits.
• Provide for your family members who may be financial irresponsible, but in a way to provide for them without sacrificing the protection of the funds to be used by them.
• Avoid probate as much as possible and provide for the lowest estate tax obligation as is available.
• Provide the flexibility to adapt to changing conditions and to always provide options for your surviving spouse.

Your Estate Plan, based upon your needs, will either be a Will-based Estate Plan or a Trust-based Estate Plan. We will discuss with you the merits of both plans and recommend the one most suited for you. Basically, each plan will comprised of the following documents:

Will-based Estate Plan

• Last Will and Testament
• Advance Health Care Directive
• Living Will
• Durable Power of Attorney

Trust-based Estate Plan

• Pour Over Will
• Revocable Living Trust
• Advance Health Care Directive
• Living Will
• Durable Power of Attorney

Each package will provide for a basic complete Estate Plan. However, we can also custom tailor a plan for your specific needs.

Are you concerned about future financial health of your children or beneficiaries? Then a Spendthrift Trust may be needed.

Are you concerned about the potential for double taxation of your estate? Then an A-B Trust may be for you.

Do you have a blended family, with hers, his, and ours? We can formulate a trust to protect all the children and provide peace of mind.

Do you have a child with Special Needs? You can provide for them and we can protect their entitlement to government benefits.

Any and all needs can be addressed. Because if you don’t have an Estate Plan in place, the state of Florida does, and it may not be what you want…