Have you done any estate planning?

I've been following the South Florida Estate Planning Law blog, an (apparently) new endeavor by South Florida attorney David Shulman. What I like most about Mr. Shulman's writing is that he discusses potentially confusing estate planning issues in layman's terms.

For starters, here's his take on why you should have a will:

Don't let the state decide how your property is disposed of upon your death

Shulman follows up with a nice overview of a Durable Power of Attorney, a Designation of Health Care Surrogate, and a Living Will:

Estate Planning is about Planning for disability as well as death

I'll certainly be keeping an eye on sofloridaestateplanning.com and look forward to more information on what the average person should know about creating an estate plan.

Fortunately, Mrs. Frugalson and I already have our estate plan in place. A few years ago, we met with an attorney to set up a plan that would help ensure that our financial and family-related wishes would be met after we die. We were each advised to set up a Last Will and Testament, a General Durable Power of Attorney, and a Living Will and Health Care Proxy. We also set up a Revocable Trust and a Declaration of Homestead.

Of course, we will need to review our plans as tax laws and our personal situation change over time. Fortunately, we're in good shape for now.