Simple. They make it look good.
The movie, “The Descendants” was nominated for Best Picture at the Oscars this weekend. One thing is for sure, George Clooney, who plays King, a wealthy trial lawyer, makes you want to learn more about estate planning. “The Descendants” is packed with a medley of complicated issues involving wills and trusts.
The movie sheds some light on the reality and complexities of estate planning. For example, end-of-life care becomes an issue in the film when King’s wife lies in a coma. That’s why it is critical to draft a living will. This legal document allows you to state whether you want your life to be artificially prolonged or whether you prefer to die naturally. If you do not have a validly executed living will in the state of Florida, you will be kept alive artificially irrespective of your wishes or the costs to your family.
There is also the issue of joint ownership that is addressed in the film. King and his cousins are left valuable Hawaiian real estate in a trust that is about to expire. When a trust designates land to multiple people, the threat of disagreement looms in the horizon. Did you know that just one owner might prevent the sale of the property? Don’t let such a legal nightmare burden your family. A highly skilled South Florida estate planning attorney will counsel you on more effective strategies in the transfer of property.
Other issues that arise are the legal limits of how long a trust can last, the special challenges of long-term trusts, and the designation of trustees. Rumor has it that the movie director even consulted an expert attorney in order to get the facts correct for viewership.
Life is not a movie. The complexities and dire consequences of improper estate planning are very real. The best way to avoid disastrous results is to start now. It is crucial to periodically review your estate plan and make necessary changes. If there is something of utmost value that can be taken away from the Oscars, it’s the necessity and exigency of estate planning. Learn from George Clooney. Consult your South Florida attorney today!
For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at [email protected] to schedule your free consultation.
It’s a Wild world. Are you protected?