Ryan M. Mynard, Attorney at Law, P.A.

Crestview Probate and Estate Planning Law Blog

Estate planning can help to answer several critical questions

Many people in Florida and elsewhere prefer not to view themselves as being mortal. For this reason, they put off estate planning. However, creating wills and trusts are essential for protecting a person's assets and wishes for loved ones long term. Here are some important questions to address in an estate plan.

First, it is important for people to come up with plans for how their loved ones will be cared for in the event that they pass away. For instance, if two individuals have minor children, it would be wise for them to name a guardian for these children. In addition, if they personally become incapacitated, who will make medical and financial decisions on their behalf?

Buying residential real estate in Florida can be competitive

Purchasing a house is never straightforward, as the process features many moving parts. However, shopping for a home can be particularly rough in highly competitive markets. A couple of tips, though, may help aspiring buyers to successfully purchase residential real estate in Florida.

For starters, it is a smart move to get in touch with a realtor early on in the home buying process. During an initial consultation, the realtor can help a would-be buyer to understand the current market's opportunities as well as the challenges it presents. In this way, the aspiring home buyer can establish realistic goals during the process.

Residential real estate on upswing for sellers

During the past few quarters, experts have raised concerns about how the United States' housing slowdown would impact the economy. However, the housing slowdown appears to be ending. This is especially great news for residential real estate sellers in Florida and elsewhere.

The real estate market began to soften last summer. At this time, an increasing number of homes entered the market, but fewer sales occurred compared with years past. However, there are now signs that this trend may reverse by the fall season.

Estate planning as a Florida business owner

For many, the word “probate” conjures images of stressful, expensive, drawn-out and incomprehensible courtroom dramas. If you’re a Florida business owner or member of a business partnership, rest assured that bad dream doesn’t have to come true for your spouse and children. It’s only likely if you haven’t thought carefully enough about your estate plan.

Do-it-yourself estate planning features pitfalls

It might be tempting for some individuals in Florida to create their own wills without professional guidance. However, estate planning can be a complicated process, even for those who do not feel that they have a significant number of assets. For this reason, hiring an attorney to help with the estate planning process is a smart idea.

Some online users may choose to download estate planning forms that are available online, then complete these forms to the best of their knowledge. However, one of the biggest problems with putting together a do-it-yourself (DIY) estate plan is that there are strict laws in place concerning the creation and execution of wills. If an estate owner does not develop and execute his or her will properly, the probate court will not view it as a valid document when he or she dies.

Certain residential real estate features have negative points

Many individuals throughout the United States are eager to make the leap from being renters to being homeowners this summer. However, determining what features to seek in their residential real estate properties can understandably be confusing. Here are a couple of items that people in Florida often seek in their dream homes but end up disliking once they move in.

First, many homebuyers look for floor plans that are open. The problem, though, is that sounds end up being multiplied in a home with this type of floor plan. In addition, such a floor plan may not be comfortable for those who prefer to have a sense of privacy in their homes. This is because an open plan makes it difficult for the parents and the children to get the separate space that both parties need.

Trusts important for single parents to set up

Creating estate plans is a wise move for every family, including the single-parent family. Sadly, many single parents in Florida do not engage in estate planning, partly because they do not understand it. Here are a handful of tips for navigating the process of setting up trusts in particular.

First, it is expedient for single parents to set up trusts that receive money from their estates when they pass away. They can also have their trust receive funds from individual retirement accounts, retirement plans, judgments, claims and settlements, such as those related to life insurance. Single parents can also identify in their trusts the people they would like to serve as their children's guardians in the event that they pass away while their children are minors.

Who will make medical decisions for you if you’re unable to?

Death isn’t something many wish to think about it. It can be sad or scary but it’s important to think about it when it comes to estate planning. Among the integral pieces of an estate plan is your medical directive. Your medical directive provides instructions for your wishes should you enter a vegetative state, become incapacitated by a terminal illness or otherwise become unable to make your own healthcare choices.

Choosing a good surrogate

Multiple estate planning truths are often overlooked

The process of creating wills in Florida and elsewhere remains highly misunderstood. For this reason, it is not uncommon for people to engage in financial planning but not estate planning. However, creating an estate plan, which includes drafting wills and other essential documents, is critical for protecting one's assets long term. Here is a look at a couple of estate planning truths that many asset owners do not realize.

First, many people believe that estate planning is just for those who are extremely wealthy.  The truth is, anybody who owns assets or has family members depending on him or her can benefit from estate planning. This is true no matter how large or small a person's estate is. An estate can include items ranging from bank accounts to homes, cars and investments.

What is durable power of attorney?

Estate planning is essential, but can be confusing. There are so many different parts that you need to put together in order to create a plan that works. Including a durable power of attorney is just one of these parts, but it is just as important as any other component of it.

You may know what power of attorney and healthcare power of attorney is, but what is a durable power of attorney?

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With offices in Crestview, we advise and represent clients throughout Northwest Florida. To speak with a dedicated and compassionate estate planning and probate lawyer, please call 850-634-4656 or contact us via email. We would be honored to speak with you about your concerns.

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Ryan M. Mynard, Attorney at Law, P.A.

Ryan M. Mynard, Attorney at Law, P.A.
420 East Pine Avenue
Crestview, FL 32539

Phone: 850-683-3940
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