Video Summary

Hi.  I’m Chip Waller.  How often should you update your will?  Well, the question is answered by saying when there’s been a change in circumstances: in the event that you have a death in your family, in the event that you relocate, in the event that there’s a birth in the family, grandchildren, or when you have sold property that you had left to someone in particular.  So anytime there is a change in your circumstances, that’s the time to update your will.

I suggest that you review your will at least once a year in order to look at it to see if that’s what you wanted to say, and whether or not there have been any changes in circumstances since you’ve made out your will.  If so, then give us a call and we’ll be glad to update your will.

In addition to your will, you might want to check in on whether or not you have a living will ,which says that you don’t want your life prolonged artificially; a healthcare surrogate, which is a healthcare power of attorney; a HIPAA waiver, which authorizes someone to make medical decisions for you if you’re unable to do so; and also a Durable Power of Attorney, which could be executed to help you in the event that you would lose your mental or physical capacity, and authorize someone else to transact business for you.

So if you have any questions about your will or any of your estate planning documents, give me a call at (727) 847-2288.  Thank you.

Video Summary

Many prepare a will in the hopes that it will prevent their estate from undergoing the probate process at the time of their passing. However, if you are in sole ownership of any assets with no co-owner or beneficiary legally established, then those assets will need to be probated.

If you have any questions about estate planning or would like to have your will prepared, please call Waller & Mitchell at (727) 847-2288.

Video Summary

Two common terms used in preparation of a will are per stirpes and per capita. Both refer to different ways to indicate how your assets are to be distributed amongst your beneficiaries.

Per Stirpes means that if a benificiary named in your will dies before you do, then his or her share of the inheritance will pass to his or her beneficiaries.

Per Capita means that if a beneficiary named in your will dies before you do, this his or her share of the inheritance will be divided equally among the remaining beneficiaries.

For example, let’s say you have two children and the older dies.

If your will is written per stirpes, the older child’s beneficiaries will receive his half of your estate.

If your will is written per capita, the younger child will receive one hundred percent of your estate.

Video Summary

You may wonder, Do I need a will? The simple answer is: Yes.

“But,” you may reply, “I don’t have any assets.” Whether or not that’s true, preparing a will can do more than just protect any assets currently in your name. Your will becomes effective at the date of your passing, and it is impossible to predict exactly what you will have at that time. Thus, it would be prudent to provide legal documentation in advance so that whatever you own at the time you pass will be distributed as you would have preferred.

In addition, if you have minor children, a will can and should stipulate who will care for them in the event that you pass away. You should also give consideration to how the children’s money should be cared for. In some instances the individual(s) you would like to care for the children will not be the same one(s) who you want in charge of their money.

For help in preparing a will to best suit your needs, please call our office at (727) 847-2288.

Video Summary

Hi. I’m Chip Waller. I get questions from time to time about what is a living will. Well, often when you hear of a living will, people are referring to a dying declaration. A living will or a dying declaration says that you do not want your life to be prolonged artificially, and you direct and authorize your healthcare surrogate or a person who you designated in your living will to discontinue life support in three different circumstances: One, if you have an end-stage condition; two, if you have a terminal condition; and three, if you’re in a permanent vegetative state.

In order to have life support discontinued, first the physicians will make the determination that you’re not going to be with us that much longer. Also, you must be in an unconscious state, because if you’re in a conscious state you are then able to make this decision yourself. Third, the person who you designate to discontinue life support can exercise their own judgment as to when and whether or not life support is discontinued. Of course you want them to follow your wishes and do not wish to be prolonged artificially. Just because they discontinue life support does not necessarily mean they’re terminating your life. You’re being allowed to die naturally without any artificial means to keep you alive.

If you’re interested in having a living will prepared or other estate documents, give us a call at (727) 847-2288.