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

Crestview Probate and Estate Planning Law Blog

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?

Tips may help with buying residential real estate for first time

Many individuals in Florida and elsewhere are choosing to make the leap from merely renting a home to buying one this spring. However, the process of purchasing residential real estate can be overwhelming, especially for first-time homebuyers. Here are a few tips for buying a home in the Sunshine State.

First, it is usually paramount that homebuyers secure a responsive and trustworthy mortgage lender. Instead of speaking to just one bank or lender, homebuyers would be wise to shop around to ensure that they are getting the best deal possible. Ideally, they should compare the loan terms, rates and lender fees of a minimum of three lenders.

Prudent estate planning needed for collectibles

Creating wills is a wise move for protecting the money that one has amassed over the years in Florida. However, it is also helpful for safeguarding valuable items that have been collected, such as antiques, art, jewelry and watches. Other items that can be protected through estate planning include baseball cards, firearms, bullion coins and numismatic coins. Here are a couple of tips for estate planning with these types of assets.

First, it is a wise move to track collected items. These items may be stowed away in a basement or attic, or they may have been misplaced in several ways. A helpful way of tracking these items is to use an online solution that features identifiable and limited access so that a family member does not try to bother one's catalog of collectibles.

3 major causes of conflict and probate litigation

While blended families can create a lot of love, they can also create issues when a loved one passes away. Unfortunately, many cases of probate litigation involve tensions and accusations between stepparents and stepchildren after a biological parent passes away. If that parent also suffered from dementia, surviving family may feel an even greater urge to fight for what they believe are the rightful outcomes of probate.

Estate crimes, Alzheimer's disease and widowed stepmothers are considered three major factors in estate disputes. When a Florida resident becomes cognitively impaired through a disease like Alzheimer's, it is easier for him or her to be taken advantage of by others. As a result, it is not unusual for accusations of undue influence to result, and in some cases, biological children may make such accusations against stepparents or even vice versa.

Estate planning critical re children with special needs

Creating wills and other related documents is critical for adults of all ages who own assets in Florida. However, estate planning is especially critical for those who have children with special needs. A major challenge that the parents of these children face is not being able to know for sure the kind of care their children will need. They also do not know what government benefits the children will qualify for upon turning 18.

An estate planning option that may help children who have special needs is a discretionary trust. This is particularly helpful if parents have enough assets to care for their children and thus prefer that they not receive benefits from the government. The parents can simply set aside funds to cover their children's living expenses, placing these funds in the trust.

Estate planning critical for older singles

People in Florida who are older, single and have no children may not have thought much about creating wills over the years. Instead, they may have been focused on building their careers and dealing with their various financial responsibilities from day to day. However, as they draw near retirement, it is critical that they pay greater attention to estate planning. Here are a few estate planning tips for singles who are close to their golden years.

First, it may behoove these individuals to execute powers of attorney and health care proxies. These documents enable individuals to choose who will make essential medical and financial decisions for them in the event that they cannot make these decisions for themselves. It is critical that those who are single have people named that they can trust to help them with these decisions.

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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 850-683-3940 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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