321-723-8388
.jpg)
Planning for your family’s future starts with one of the most vital moves you can make—create a solid estate planning. At Lemieux & Jacoby Elder Law Advocates, we work closely with families in Melbourne, FL to create personalized estate plans that protect your assets, honor your wishes, and bring peace of mind for years to come.
Whether you're just starting a family, entering retirement, or somewhere in between, having a solid estate plan ensures that your loved ones are taken care of—no matter what life brings. Here are some key strategies to keep in mind when planning your estate:
1. Create or Update Your Will
A will serves as the cornerstone of your estate plan, detailing the distribution of your assets and designating guardianship for your minor children. If you already have a will, it’s important to review and update it regularly—especially after major life changes like marriage, divorce, or the birth of a child.
2. Establish a Revocable Living Trust
A revocable living trust allows your estate to avoid probate, which can save your family time and money. It also keeps your affairs private and ensures a smoother transfer of assets. In Florida, where probate can be both lengthy and expensive, this strategy is particularly beneficial.
3. Designate Durable Powers of Attorney
Estate planning isn't just about life's final chapter—it's about being prepared for the twists and turns along the way. Establishing a durable power of attorney allows you to authorize a trusted person to manage your financial and legal affairs should you become incapable of doing so.
4. Create an Advance Healthcare Directive
Also known as a living will, this document outlines your healthcare preferences in the event you are unable to communicate them. Combined with a healthcare surrogate designation, this ensures your medical wishes are honored and a trusted person is in charge of your care decisions.
5. Plan for Long-Term Care
In Melbourne, FL, the steep price of long-term care often catches families off guard. Medicaid planning, long-term care insurance, and asset protection trusts can help preserve your assets while ensuring access to quality care. At Lemieux & Jacoby, we specialize in elder law strategies to meet these exact needs.
6. Review Beneficiary Designations
Assets like life insurance policies, retirement accounts, and payable-on-death bank accounts are transferred directly to the beneficiaries you’ve named. It’s important to regularly review and update these designations to ensure they reflect your wishes and are consistent with your broader estate planning goals.
7. Minimize Tax Burden
While Florida doesn’t have a state estate tax, federal estate tax could still apply to larger estates. Charitable giving, gifting strategies, and trust-based planning can help reduce potential tax liabilities for your heirs.
Why Estate Planning Matters More Than Ever
At Lemieux & Jacoby Elder Law Advocates, we’re proud to serve the Melbourne, FL community with compassionate, comprehensive legal services. From simple wills to complex trusts, our experienced team is here to guide you through every step of the estate planning process.
Ready to Start Your Estate Plan?
Let’s talk. Contact Lemieux & Jacoby Elder Law Advocates today at 321-723-8388 or visit lemieuxjacoby.com to schedule a free consultation. We’ll help you build a customized estate plan tailored to your unique needs and goals—so you can move forward with confidence.
