Estate Planning is the legal process in which a law firms assists an individual in the preparation of a Will or a Trust document which provides asset protection from creditors and transferring assets to family members when the person dies, reducing or eliminating federal estate taxes or managing a person’s assets when he or she becomes disabled. One main purpose of estate planning is probate avoidance.
Probate court can be time-consuming and costly to your heirs, probate court is a public process which means that any possible beneficiary can file a Will challenge. This Will challenge will delay the transfer of assets to the intended beneficiaries
A Will is a legal document that provides an individual’s intent as to whom should receive his property at the time of death and designates a person who will make sure that your wishes are honored. Otherwise, your assets will be divided according to state law which means that your property will go to your closest relatives. However, if a probate court cannot find living relatives, the State of Florida will keep your property and assets.
Our law firm provides legal representation to individuals with asset protection by the preparation of a Trust and other documents like Wills, Power of Attorney, Living Wills and designation of a Health Care Surrogate.
A Trust is a legal entity which holds property for the benefit of a beneficiary. The Trust will also indicate who will be the Trustee who will manage the assets. The Trustee can be a family member, a friend or professional trustee. A Trust can have several benefits which include a reduction of estate taxes, protection from creditors, reduce the length and expense of probate, and immediately transfer assets to beneficiaries at the time of death.
This is a legal document which gives an individual the power to act on behalf of another person. The most common type is a durable power of attorney which is used when a person becomes incapacitated. This document will allow a person to pay bills, make medical decisions, execute contracts, sell or purchase property.
A Living Will is a written declaration directing the providing, withholding, or withdrawal of life-prolonging procedures in the event a person has a terminal condition, has an end-stage condition, or is in a persistent vegetative state.
A surrogate is defined as “any competent adult expressly designated by a principal to make health care decisions and to receive health information.” Fla. Stat. Section 765.104(2)