Wills & Trusts
Wills & Trusts
Planning for your future may be one of the most valuable steps you can take in your life, regardless of your age. At the Law and Title Offices of Michael R. Tilley, we can assist you in learning about beneficial estate planning tools that may help you ensure that your wishes for your estate will be carried out and your loved ones will be provided for in the future.
Based in Boca Raton, our Florida law firm offers trusted legal guidance in estate planning to individuals and families in Palm Beach County, North Broward County and throughout the surrounding communities.
While many individuals believe wills and trusts are meant be created at a certain point later in life, this is simply untrue. Attorney Michael R. Tilley has spent more than three decades assisting clients of all ages with many planning vehicles, such as:
- Simple will: A will is a legal document that states an individual’s wishes regarding what should be done with his or her estate — including property and assets — at the time of his or her death. After death, an appointed personal representative will be in charge of selling, transferring and distributing property and assets to designated beneficiaries.
- Living will: A living will is a document that an individual can use to put in writing his or her preferences and directions regarding life-sustaining medical treatment in the event of incapacitation resulting from a terminal illness or accident.
- Pour-over will: This type of will is used along with a trust. It allows any property that a person owns individually at the time of his or her death to be “poured,” or transferred, into his or her trust.
- Trust: A trust is an estate planning strategy that involves one or more individuals granting another individual (trustee) the right to hold the legal title to the other individual’s property. The written rules of a trust explain in detail what should be done with the property.
- Inter-vivos trust: This type of trust becomes effective during the lifetime of the individual who created the trust, or settlor. An inter-vivos trust is also known as a living trust.
- Testamentary trust: This trust is present in will and is effective at the time of death of the person who created the will.
- Revocable trust: This inter-vivos trust can be amended or revoked by the person who created the trust.
- Irrevocable trust: This trust cannot be amended or revoked after it has been created, often used with life insurance as its protected asset.
- Durable power of attorney: This document is used to give another person the legal decision-making rights regarding property, financial and/or medical matters. It can be very helpful in the event of incapacity.
- Special power of attorney: This gives another person the legal right to carry out a specific business transaction for the principal, such as signing documents to complete a real estate transaction.
- Health surrogate, HIPAA release and pre-need guardian: These are documents essential to a fully rounded plan.
- Life estate deeds and enhanced life estate deeds: These provide seamless transfer of property without probate.
During a confidential consultation at our law office, lawyer Michael R. Tilley will help you understand your legal options when it comes to planning your estate. We will listen to your circumstances and identify your objectives and goals regarding your assets, guardian for minor children, distribution to beneficiaries, even your wishes involving life-sustaining medical treatment and funeral arrangements.
Our objective for our clients is to provide them with peace of mind, knowing that if something should happen to them, the burden on their loved ones will be minimized.