When you think about estate planning, chances are that your phone is not one of the first things that spring to mind. But you have digital assets stored on your phone, as well as your laptop, tablet, and online accounts, and you need to include management of digital assets as part of your estate plan. Unlike traditional assets with a physical presence or paper trail, digital assets can be effectively lost in cyberspace if you do not take the right steps to prepare. Estate planning to protect digital assets involves many tasks you can do on your own. However, there are a few situations where you may want to consult your estate planning attorney for assistance or advice. Inventory Your Digital Assets A digital asset is anything that is stored, owned, and accessed completely online or in a digital format. When taking inventory of your digital assets, you need to…

People often assume that estate planning is something you don’t have to worry about until you’re at a stage of life where you have children to protect or are preparing for your final years. However, many of the critical components of an estate plan are just as essential for young adults as for older ones. Here are some important documents to consider as your children head off to college or embark on life as independent adults. Health Care Surrogate Designation Illness or injury can strike anyone regardless of age. If a young adult is unconscious or incapacitated, a health care surrogate designation would allow someone they trust to make health care decisions and authorize medical treatment on their behalf. Financial Power of Attorney While a health care surrogate designation allows an agent to make health care choices for someone who is incapacitated, a financial power of attorney enables an agent…

A good estate plan should include six important documents. Many clients are surprised to realize that three of these important components involve medical issues rather than financial ones. If your plan is missing one of these elements, your loved ones may have to deal with added legal expenses and delays, or they may be unable to assist you in an emergency. When you have these essential documents up-to-date, you can rest easy knowing that you have taken the right steps to prepare for the future. A Trust Can Be the Key to Security One or more trusts often serve as the cornerstone of a thorough estate plan. There are different types of trusts used to accomplish different goals. For instance, you might use: A revocable living trust to avoid probate An irrevocable asset protection trust to become eligible for long-term care assistance through Florida Medicaid A charitable remainder trust to…