Estate Planning Blogs

Asset protection is the process of protecting your assets from creditors, lawsuits, and other threats. This is important for everyone, but it is especially important for families in Central Florida. Our state is a popular destination for retirees and other wealthy individuals, and as such, it has its fair share of creditors and other bad actors looking to take advantage of unsuspecting individuals. Secure Your Future: Asset Protection for Central Florida Residents If you are a Central Florida resident, there are several reasons why you should consider asset protection. Some of the most common reasons include: To protect your assets from creditors. If you are ever sued or have a judgment entered against you, your assets could be at risk. Asset protection can help you shield your assets from creditors, ensuring that you and your family are not left with nothing. To protect your assets from divorce. Divorce can be a messy and expensive process. Asset protection can help you protect your assets from your ex-spouse, ensuring that you are not left with nothing. To protect your assets from lawsuits. If you are ever involved in a lawsuit, your assets could be at risk. Asset protection can help you shield your assets from lawsuits, ensuring that you and your family are not left with nothing. To protect your assets from estate taxes. Estate taxes can be a significant burden on your family. Asset protection can help you reduce or eliminate your estate tax liability, ensuring that your assets are passed on to your loved ones intact. There are several different asset protection strategies available. Some of the most common strategies include: Titling assets in the name of a trust. A trust is a legal entity that can hold title to your assets. This can help to shield your assets from creditors, lawsuits, and other threats. Using a limited liability company (LLC). An LLC is a business structure that can help to protect your personal assets from business liabilities. Purchasing insurance. Insurance can help to protect your assets from a variety of risks, including lawsuits, accidents, and natural disasters. If you are considering asset protection, it is important to speak with an experienced asset protection attorney. An attorney can help you develop a customized asset protection plan that meets your specific needs. Sibley Law & Associates: Your Trusted Asset Protection Partner Sibley Law & Associates is a law firm that specializes in asset protection. The firm's founding attorney, Dee Sibley, is one of Central-Florida's most experienced and trusted asset protection lawyers. Attorney Sibley has over 20 years of experience helping families protect their assets. If you are looking for an experienced and trusted asset protection attorney in Central Florida, Sibley Law & Associates is a great option. Planning for Life...Building for Legacy Asset protection is an important part of planning for your life and building your legacy. By protecting your assets, you can ensure that your family is taken care of in the event of your death or disability. If you are interested in learning more about asset protection, please contact Sibley Law & Associates today to schedule a consultation.

As we approach Veterans Day, we pause to honor the brave men and women who have served our nation with unwavering dedication. Your military service demonstrated a profound commitment to protecting America's future – and now it's time to protect your family's future through thoughtful estate planning I call Life & Legacy PlanningⓇ. Just as you approached missions with precision and care during your service, attending to your Life & Legacy Planning with the same attention to detail can ensure your loved ones are well-cared for and your legacy is preserved. In this article, I will help you understand the unique estate planning opportunities available to veterans and the steps you can take to secure your family's tomorrow. Let’s start with veterans' benefits. Understanding Your Veterans Benefits Your military service has earned you and your family special benefits that extend beyond your lifetime. The Department of Veterans Affairs (VA) offers several programs that can provide for your loved ones after you're gone. Your spouse may be eligible for Dependency and Indemnity Compensation (DIC), if you pass away due to a service-connected condition. Additionally, your family might qualify for burial benefits, including a free burial plot in a national cemetery, a headstone or marker, and a burial flag. To ensure your family can access these benefits, keep your discharge papers (DD Form 214) with your estate planning documents and inform your executor of their location. You should also maintain a current list of all VA benefits you receive, as this information will be crucial for your family to continue receiving eligible benefits. When you work with me to create your Life & Legacy Plan , I will help you organize the information your family will need so they’ll know for sure they’ll receive all the benefits they are entitled to. No guessing, no extra work, and no lost benefits simply because they didn’t know what was available to them. Creating Your Estate Planning Strategy Life & Legacy Planning for veterans requires careful consideration of both military and civilian assets. I recommend you create a comprehensive list of your assets, including: Military pension and retirement accounts Life insurance policies (both military and private) Property and real estate Investment accounts Personal possessions with monetary or sentimental value When you meet with me for a Life & Legacy Planning Session , I will support you to create this inventory before we create your plan, because this inventory is incredibly important. Without an inventory, your family may struggle to locate your assets, and the assets you care about could easily get lost or become hard to find. Once you have created your inventory, we’ll meet for up to 2 hours and review your assets, your benefits, your family dynamics and your desires, values, and wishes for what you want to happen with everything you own and everyone you love, in the event of your incapacity, or eventual death. We’ll go through your asset inventory and I’ll tell you what will happen to each under your current estate plan. I’ll also tell you what will happen to your loved ones, including your minor children. Armed with this knowledge, you’ll then decide on the right plan for you, based on what’s important to you and in alignment with your budget. Note that service members can create basic estate planning documents through the military legal assistance office at no cost. This may or may not be an adequate option for you, depending on your needs. For example, if you have minor children, you need a comprehensive plan that will keep your children from being taken into the care of strangers or raised by people you’d never want to raise them, if something happens to you. Or, if you have a blended family, no children, a business, a child with special needs, or significant assets, you need a comprehensive plan that will keep your family out of court and conflict, which a free, documents-only plan will not do. Finally, for your plan to work when you need it to, your plan needs regular reviews and updates as your life changes, your family dynamics change, and your assets change. A free, documents-only plan is just that - documents. You won’t have a trusted advisor who has your back and will ensure your plan stays updated over time. But you get all these benefits (regular reviews, a comprehensive plan that keeps your family out of court and conflict, etc.) when you work with me and create a Life & Legacy Plan . So, I encourage you to educate yourself before creating a plan based only on documents. I have many free resources for you on my website to help, or you can book a complimentary consult call with me using the booking link below. Working with a Trusted Advisor While the military legal assistance office provides valuable services, you may benefit from working with an attorney who understands both veterans' benefits and estate planning, especially if you have a potentially complex situation, like a blended family, a family member with special needs, a debilitating illness, no children (yes, this is often a complex matter, not a simple one!), or many varied assets. A competent attorney can help you: Structure your estate to maximize benefits for your survivors Create trusts to protect assets if you need long-term care Navigate complex VA regulations Ensure your estate plan complies with state and federal laws Update your plan as laws and regulations change Please book a complimentary call with us below for more information and guidance about what’s right for you and your loved ones. Your service to our nation demonstrates your commitment to protecting what matters most. Now, it's time to protect your own legacy through careful estate planning. By taking these steps, you're continuing your tradition of service by ensuring your family's security and well-being. Remember that Life & Legacy Planning isn't a one-time task. It’s imperative to review your plan regularly, especially after major life changes like marriage, divorce, a birth, or significant changes in your financial situation. When you work with me, we include regular reviews to ensure your plan works when you and your loved ones need it. You deserve the peace of mind that comes from creating a comprehensive Life & Legacy Plan . It’s one of the greatest gifts you can give your loved ones, and it's a fitting way to honor the sacrifices you've made in service to our country. How We Help You Honor and Protect Your Legacy Veterans have already given so much in service to our country – you shouldn't have to worry about your family facing legal challenges or missing out on earned benefits. As a Personal Family LawyerⓇ Firm, we help you create a Life & Legacy Plan that honors your military service by ensuring your loved ones stay out of court and conflict, while maximizing the benefits you've earned through your service. Once you've created your plan, you can rest easy knowing your wishes will be honored and your family will be protected with the same dedication you showed to protecting our nation. Click here to schedule a complimentary 15-minute Discovery Call to learn more about how we can help secure your military legacy: https://bit.ly/veterans_discoverycall This article is a service of Dedra Sibley, a Personal Family Lawyer® Firm . We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session ™. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer ® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

October 21-27 marks National Estate Planning Awareness Week, a perfect time to address the misconceptions surrounding estate planning. At Sibley Law & Associates, we frequently hear myths that prevent people from taking action, often leading to costly consequences for their loved ones. Let's clear up some of these common myths and highlight why estate planning is crucial for everyone, not just the wealthy. Myth 1: Estate Planning is Only for the Wealthy Think about it this way: you probably have several people on your cell phone plan, right? You take care of the bill, and they rely on you to keep their phones active. But what happens if you become incapacitated? Suddenly, those people can't access their accounts or even pay their bills because they don't have the legal authority to do so. This is just one small example of why estate planning is about more than just wealth—it's about making decisions that will impact your family and loved ones. Do you have a home, a car, or a bank account? Do you have people who depend on you? If you answered yes to either of those questions, you need an estate plan. Estate planning covers everything from naming guardians for minor children to determining who will manage your digital accounts. You don’t have to be wealthy to need a plan—just someone who wants to ensure their loved ones are taken care of. Myth 2: Estate Planning is Complicated and Expensive Another common myth is that estate planning is overly complex and costly. While every estate is unique, at Sibley Law & Associates, we offer customizable estate planning options designed to fit your specific situation and budget. Our Life & Legacy Planning Process simplifies the entire experience, providing education and guidance so you can make informed decisions that reflect your values and goals. Most importantly, having a proper plan in place now can save your family from confusion and unnecessary legal fees down the road. Myth 3: I’m Too Young to Need an Estate Plan Many believe estate planning is only necessary later in life. However, life is unpredictable, and it’s never too early to plan. Whether you're a young professional or a new parent, there are critical decisions to be made. Who will care for your children or pets if something happens to you? How will your medical decisions be handled if you’re incapacitated? Estate planning ensures that your wishes are respected and can prevent family disputes or legal challenges in the future. For young parents, in particular, creating a will and designating guardians is a must to protect your children. Myth 4: Once I Create an Estate Plan, I'm Done Estate planning is not a one-time event; it's a living process that evolves with your life. Just as your family's needs and financial situation change over time, so should your estate plan. Estate planning also helps to clarify financial responsibilities. Just as you might have a family cell phone plan to share costs, you might have joint bank accounts, shared expenses, or co-own property. A well-defined estate plan ensures that these financial matters are handled smoothly and responsibly, even in unexpected circumstances. Major life changes—like marriage, the birth of a child, or acquiring new assets—should trigger updates to your plan. At Sibley Law & Associates, we recommend reviewing your plan every three years or after any significant life event. By keeping your plan up to date, you ensure that it continues to reflect your current wishes and provides the best possible protection for your loved ones. Take Action Today Don’t let these myths stop you from securing your family’s future. At Sibley Law & Associates, we go beyond traditional estate planning by offering comprehensive Life & Legacy Plans that are tailored to your needs. We make the process simple, accessible, and affordable for everyone—whether you're just starting or updating an existing plan. Our plans include regular reviews to ensure everything remains up to date as your life changes, providing you with lasting peace of mind. Click here to schedule your free discovery call today and gain peace of mind knowing your family's future is secure. Disclaimer: The information provided in this blog post is for general informational purposes only and does not constitute legal advice. Please consult with a qualified attorney for specific legal advice tailored to your individual circumstances. This article is a service of Sibley Law & Associates, PLLC, a Personal Family Lawyer® Firm. We ensure that your estate plan is more than just documents—it's a thoughtful, personalized strategy that offers peace of mind for you and your family. Contact us today to schedule a FREE 15-minute Discovery Call & Life & Legacy Planning Session™ and begin making informed decisions about your future.

If you've ever thought about planning for your future or assisted a loved one with their estate, you've likely come across the term "Power of Attorney", also known as a POA. But what does it really mean, and how does it work under Florida law? Many misconceptions surround this legal tool, and understanding its true nature is crucial for protecting your interests. At Sibley Law & Associates, we aim to clear up these misunderstandings, ensuring that our clients throughout Melbourne, the Space Coast, and Central Florida make informed decisions. Understanding the Power of Attorney: What It Really Means. A Power of Attorney (POA) is a legal document that grants someone the authority to act on your behalf, typically in financial or legal matters. Despite the name, it doesn’t give the person an actual law degree—rather, it designates them as your agent, someone authorized to manage specific aspects of your life when needed. Common Types of Powers of Attorney in Florida Understanding the different types of POAs available is essential in ensuring you choose the right one: General Power of Attorney : Grants broad authority, allowing someone to manage your finances or sign documents even while you are capable. Durable Power of Attorney : This is the most common type of POA in Florida. It stays effective even if you become incapacitated. (Some states have "springing" POAs that only activate upon incapacitation, but Florida does not.) Limited Power of Attorney : Used for specific tasks, such as selling property. Healthcare Power of Attorney : Provides authority for medical decisions if you're unable to make them yourself. Beware: Your POA Ends With Death—Here’s What You Need to Know. A major misconception about POAs is that they continue after death. In reality, a POA becomes void upon death, which means the agent can no longer manage your affairs. At that point, managing assets falls to your estate plan or probate process. How Sibley Law & Associates Can Help You Prepare Planning for your future should involve more than just drafting a POA. As you can see, having a POA provides limited accessibility and protections that may be needed. At Sibley Law & Associates, we help you create Life & Legacy Plans that ensure your loved ones are cared for in every situation. With our expertise in Florida estate planning law, we will help ensure your assets are protected, and your loved ones can avoid the pitfalls of probate. Let Us Guide You At Sibley Law & Associates, we don't just draft documents; we build relationships. By partnering with you, we ensure you understand every aspect of your estate plan, so you feel empowered and secure about the future. Click here to schedule a complimentary 15-minute Discovery Call and start creating a customized estate plan that reflects your unique goals. Disclaimer: The information provided in this blog post is for general informational purposes only and does not constitute legal advice. Please consult with a qualified attorney for specific legal advice tailored to your individual circumstances. This article is a service of Sibley Law & Associates, PLLC, a Personal Family Lawyer® Firm. We ensure that your estate plan is more than just documents—it's a thoughtful, personalized strategy that offers peace of mind for you and your family. Contact us today to schedule a FREE 15-minute Discovery Call & Life & Legacy Planning Session™ and begin making informed decisions about your future.

When Legacies Clash: The Murdoch Family's Fight for Control Media mogul Rupert Murdoch, known for his vast global media empire encompassing Fox News, The Wall Street Journal, and more, finds his family embroiled in a high-stakes legal battle over the irrevocable trust established in 2003 to manage their fortune. This highly publicized dispute, centering on the control and future of these massive assets, has exposed potential vulnerabilities even in the most meticulously crafted estate plans. For affluent families in Florida, the Murdoch saga serves as a stark reminder that proactive planning and expert legal guidance are essential to safeguard their legacies and prevent costly family conflicts. What's at Stake in the Murdoch Case? In essence, the Murdoch case boils down to a power struggle within one of the world's most influential families. Certain beneficiaries are challenging the terms of the trust, seeking greater control over the assets and decision-making within the trust. This high-profile dispute underscores the potential for family conflict to derail even the most thoughtfully designed estate plans. Where the Case Stands Today The legal battle is ongoing, with various parties presenting their arguments in court. The outcome remains uncertain, but the case has already generated significant attention and raised important questions about the enforceability of trust provisions and the potential for disputes even within seemingly well-structured estate plans. Key Lessons from the Murdoch Dispute Irrevocable Trusts are Not Foolproof: The Murdoch dispute shatters the illusion that irrevocable trusts are impervious to challenges. It's a sobering reminder that careful drafting and foresight are essential to protect your intentions. Family Dynamics: The Hidden Threat: Even the wealthiest families can be torn apart by disagreements over inheritance and control. The Murdoch case tragically demonstrates the need for open communication and conflict resolution to preserve family harmony. Succession Planning: A Complex Puzzle: Transferring significant assets or businesses can be fraught with challenges. The Murdoch family's struggle highlights the necessity of a well-defined succession plan that addresses both legal and emotional considerations. Florida Law: Your Estate Plan's Foundation: Don't underestimate the importance of understanding Florida's unique trust laws. A misstep here can have dire consequences. Consulting a local attorney is vital to ensuring your plan is solid and enforceable. Don't Become the Next Cautionary Tale Regular Reviews: Estate planning isn't a "set it and forget it" endeavor. Regularly review your plan with an attorney to address any changes in your life or the law. Open Communication: Foster transparent conversations with your family about your wishes and their expectations. Addressing potential conflicts early can prevent future heartache. Strategic Succession: If you own a business, create a detailed succession plan that ensures a smooth transition and minimizes disruptions. Expert Guidance: Partner with experienced Florida estate planning attorneys to craft a comprehensive plan tailored to your unique needs and goals. Secure Your Legacy Today The Murdoch family's experience serves as a powerful lesson. Don't let your legacy be defined by conflict and legal battles. Take control of your future. Schedule a complimentary 15-minute Discovery Call today . Start planning your legacy with confidence. Disclaimer: The information provided in this blog post is for general informational purposes only and does not constitute legal advice. Please consult with a qualified attorney for specific legal advice tailored to your individual circumstances. This article is a service of Sibley Law & Associates, PLLC , a Personal Family Lawyer® Firm. We ensure that your estate plan is more than just documents—it's a thoughtful, personalized strategy that offers peace of mind for you and your family. Contact us today to schedule a FREE 15-minute Discovery Call and Life & Legacy Planning Session ™ and begin making informed decisions about your future.

Are you using AI to streamline your life? Whether it's creating meal plans or fitness routines, AI can be incredibly helpful for low-stakes tasks. But when it comes to something as significant as estate planning, using AI may not be the best choice. DIY estate planning with AI might seem like a simple, cost-effective solution, especially if you think your situation is straightforward or that you don't have much wealth to worry about. However, these assumptions are often misguided. The truth is that estate planning isn’t just about documents —it’s about protecting your loved ones and your legacy . Every family is unique, and estate plans need to reflect that complexity. AI lacks the nuance to understand your family dynamics, personal values, and how these intertwine with legal requirements. Without expert guidance, there can be legal and financial consequences if things go wrong. You need a human expert who can navigate both your personal situation and the law. Before using AI for your estate planning, here are three important questions to consider: Question 1: What Matters Most? What or who do you value most? When planning for life’s uncertainties, it’s crucial to reflect on your priorities. Is it your hard-earned money or the relationships you’ve cultivated over the years? For most people, it’s the latter. Think about the impact a loved one’s death has on you. While their financial assets may ease some burdens, the true loss is the person and the memories they leave behind—that’s their legacy. Now, consider what your legacy will be. Without a well-crafted estate plan, your family could be left with a legal and financial mess. They may face stress, division, or even estrangement due to unresolved affairs. Is this how you want to be remembered? When you work with a professional to create a Life & Legacy Plan, you ensure your wishes are clear, your loved ones are supported, and your assets are used the way you intend. AI simply cannot provide this level of personalization. Question 2: What’s It Worth? Once you know what matters, the next step is to assess the worth of those things. What is the value of protecting your family's relationships or ensuring that your assets benefit your loved ones instead of being lost to taxes? Estate planning is often far more complex than people realize. Even experienced estate attorneys can find the laws challenging to navigate. With AI, you’re relying on a generic, one-size-fits-all approach that doesn’t account for legal intricacies or changes. So, ask yourself: Is it worth the risk of leaving something so important to chance? Question 3: Is AI Really Cheaper and Easier? At first glance, using AI might seem more cost-effective than hiring an attorney. But if your plan contains errors, your family could end up in court, paying hefty legal fees, and losing out on assets due to unnecessary taxes or disputes. The emotional toll on your family could be enormous as well. When you factor in the potential consequences—financial, emotional, and relational—the perceived savings from using AI can quickly evaporate. Estate planning isn’t just about saving money upfront; it’s about ensuring your family is cared for and your legacy preserved. You Deserve More Than a Quick Fix Estate planning is about more than just filling out forms—it’s about protecting your loved ones and creating a meaningful legacy. At Sibley Law & Associates, we take the time to understand your unique situation and create a plan tailored to your needs. With our Life & Legacy Planning® process, we help you clarify what matters most and craft a plan that honors your wishes at a price that fits your budget. Don't leave your legacy to chance. Schedule a complimentary 15-minute Discovery Call with us today to learn more about how we can help you create an estate plan that truly reflects your values and protects the people you love. This article is a service of Sibley Law & Associates, PLLC , a Personal Family Lawyer® Firm. We ensure that your estate plan is more than just documents—it's a thoughtful, personalized strategy that offers peace of mind for you and your family. Contact us today to schedule a Life & Legacy Planning Session™ and begin making informed decisions about your future.

In this last installment of our four-part celebrity series, we spotlight Elvis, the King of Rock. Although he passed away in 1977, we can learn valuable lessons from his estate, even in 2024, like how to avoid falling prey to scammers. Read more…

Celebrity Estate Plans Series Part 3 of 4: Jay Leno’s Case is No Laughing Matter

Since we love a good celebrity story, this July we’re looking at the lives of 4 celebrities and how they’re preparing for the inevitable (or didn’t!). In this second article of our 4-part celebrity estate planning series, Vanilla Ice chimes in with his estate planning experience, advice, and lessons learned. Let’s just say he has…thoughts. Read more…

For whatever reason, we just can’t resist a good, juicy celebrity story. So, for the next few weeks, we’re going to look at the lives of 4 celebrities and how they prepared for the inevitable (or didn’t!). This week we're turning the spotlight on the King of Pop himself, Michael Jackson. Read more…

As a father, you've always strived to provide the best for your family, ensuring their well-being and securing their future. However, even the most well-intentioned plans can fail if you overlook the complexities of estate planning. Read more…

Welcome back to our discussion on securing a comfortable retirement! In the first part of this series, we explored essential steps that included estate planning, preparing for long-term care, and passing on your legacy. As we continue with the second part of our series, we'll delve into additional areas that are crucial for ensuring your golden years are not only financially stable but also enriched with independence, health, and continued personal growth. So, let's pick up where we left off.

Note: This is part 1 of a 2-part Series. Look for the next Blog containing part 2 (Steps 6-10) to be posted soon!

It’s a question that most people don’t think about. But social media accounts should be considered as part of your assets, and that means you need to have a plan for them when you die. Each social media platform has its own rules for dealing with the accounts of deceased users, ranging from permanent deletion to transforming accounts into places for mourning and memory.  Understanding these options is essential for managing digital assets responsibly so you’re your wishes will be respected. So, let’s take a look at the various policies of major social media sites and what you can do to make sure your accounts are handled the way you want. After all, our social media accounts reflect our personalities, interests, and memories, so we want them handled with care.

Digital innovation shapes every aspect of our lives, so it's no surprise that our teenagers are drawn to the allure of cryptocurrency. This digital form of money represents a shift away from traditional financial systems. If you are the parent of teens, understanding cryptocurrency is crucial in order to provide them with the guidance they need to navigate this new world safely and wisely. Luckily, I’m here to help you learn what you need to know. Let’s dive in.

BLENDED FAMILIES + DEATH = A POTENTIAL NIGHTMARE

We’re back, as promised, with Part 2 of our practical strategy for showing your finances and your family even more love this year. As a refresher, here’s what we covered in Part 1:

As we step through the month of March, with its promise of happy days and brilliant blooms, our thoughts wander to spring cleaning and, with income tax filing due next month, our personal finances. Both are laudable ideas . . . until you actually have to make a plan and get it done. Am I right?

The Student Loan Tightrope: Balancing Act of Finance