Create a will, secure your children’s future: SouthFlorida.com

Each day parents across the country take multiple steps to safeguard their children --making sure buckles are buckled, helmets are worn and babies are asleep on their backs. We are accustomed to hedging the risk of danger or an unforeseen accident, but how many of us are prepared for the grandest fail safe, a will or living trust?

Producing a legal document to ensure the safety and well-being of our children is often one of those "to do's" that we assume will someday get done but often gets lost in the minutiae of living.
Creating a will or a living trust is something that every person, indeed every parent, should draw up as soon as possible. A will is a legal document that testifies your plans for your estate after your death. You may create a will individually or jointly. A simple will costs on average $200 to $300. Amending or revoking your will because of change in marital status, birth or adoption of a child, or relocation, for example, requires the document to be either physically destroyed, or you may create a codicil with an attorney, which is a formal supplement to your original will.
Another option for posthumous planning is the living trust. A living trust is significantly more expensive than a will; however, a trust offers a much smoother and less legal transfer of the estate after death.
"A will requires a judge to appropriate the estate through probate court," said attorney Raquel Fas-Bravo, of Boca Raton. "This can take months or even years. Appearing in court each time will make the hiring of an attorney necessary, so when all is said and done, you may end up paying well over $2,000, which is the average cost of a living trust."
A living trust creates an administrator or trustee of your estate, thereby eliminating the need for a judge to, in simple terms, "divvy up" your estate. A living trust can even deem a person a trustee in the event that you become incapacitated or too ill. You need not die for the trustee to oversee your estate. When you choose a living trust, the trust is the entity that "owns" your assets, and the trustee's power can be transferred for generations.
"Ideally, you should create both a will and a living trust," Fas-Bravo said, "because only a will allows you to delegate guardianship."
With both documents, it benefits both you and your benefactors to be as specific as possible when writing your will and/or living trust. If, for example, your child is estranged from the other parent, you must state why the estranged parent should not be given custody. The more specific your wording, the less likelihood there will be of confusion or possible hostility among family members.
Both you and your attorney will have copies of these documents. You should tell a loved one about the existence of either your will or living trust and where it can be found. In your will, you can document how you'd like to have your remains taken care of. You also can state your taxes, any debts or outstanding expenses. You can itemize your credit card numbers, bank account numbers and any other financial information that would be pertinent to the upholding of your will.
"The lack of specificity is one of the reasons why a will can take so long in probate court," Fas-Bravo said.
To ensure a smooth transition during a tragic time, consider everything you own and what you want to happen postmortem, and spell it out.
Be aware that if you have property in other states or countries, there are regional laws associated, and you will have to reflect them in your chosen documents. If you choose to have only a simple will and own property in other states, your family will have to hire an attorney to represent the will in the other states, as well.
Making sure your children brush their teeth, get plenty of fresh air and eat quality food are daily activities that put us on the right footing for protecting their health and well-being. In the bigger more ephemeral picture, however, a will or living trust (or both) en-sures a protection that has tremendous breadth and scope.
For more information about creating a will or living trust, contact your family attorney, or call Fas-Bravo at 561-367-7730.