The Help You Need With The Finer Points Of Estate Planning
For most people, wills, trusts and advance directives are not part of normal, everyday conversation. Because these legal instruments are so rarely thought about, they can seem much more ominous and complicated than they really are. In fact, you can and should discuss your estate plan with a trusted legal team. You can understand these legal instruments, and you can create a powerful estate plan to handle assets and debts for your family. You need just the help of an experienced lawyer.
At The Siegel Law Firm, P.A., we can help you. From our three law office locations in Jupiter, Port St. Lucie, our law firm has helped countless clients throughout South Florida create comprehensive, integrated estate plans. We are a family-run law firm, here to help you and your family with your estate planning needs.
Wills, Trusts And Advance Directives
The Siegel Law Firm, P.A., is committed to providing its clients with comprehensive estate planning. Estate planning is not just for the wealthy. The Siegel Law Firm, P.A., can draft estate planning documents, such as a will or trust, to protect your loved ones and assets in the event of your passing. Here are some common reasons individuals draft various estate documents.
- Designating a guardian for minor children
- Designating beneficiaries for real estate, personal property, bank accounts, retirement accounts and life insurance policies
- Drafting an effective will document and all appropriate trust documents to transfer your assets efficiently
- Avoiding costly probate
- Asset protection
The most important thing you can do when considering your estate plan is to work with an experienced attorney who can help you understand your various options and the legal instruments available to help you reach your goals.
FAQs: Florida Estate Planning
Estate planning is an essential step in making certain your loved ones are cared for and your assets distributed per your wishes upon your death. We know that the concept of estate planning and its many facets can be confusing – we offer our answers to some common questions to help you make informed estate decisions.
How is a trust different from a will in Florida?
A trust and a will serve distinct purposes in Florida estate planning. A will outlines how your assets will be distributed upon death and appoints guardians for minor children. Wills must go through probate, a court-supervised process that can be time-consuming and public.
By contrast, a trust is a legal arrangement where assets are held by a trustee for the benefit of beneficiaries. Trusts can bypass probate, offering privacy and quicker asset distribution. They can also manage assets during your lifetime if you become incapacitated. While trusts are more complex, they provide greater control and flexibility in asset management.
How often do I need to update my estate plan?
Regular updates to your estate plan are essential to ensure it reflects your current wishes and circumstances. Major life events, like marriage, divorce, childbirth or a loved one’s death, should prompt a review. Changes in laws or financial situations may also necessitate updates. Keeping your plan current helps prevent unintended consequences and undesired asset distributions.
Does estate planning help in reducing estate taxes in Florida?
Florida does not impose state estate taxes, but federal taxes may apply if your estate exceeds the federal exemption threshold. Effective estate planning strategies, like establishing trusts or making lifetime gifts, help minimize federal estate tax liabilities. An experienced attorney can help you craft a plan that maximizes tax benefits while protecting your assets.
What if someone passes away without a Florida estate plan (intestate)?
The assets they leave behind will be distributed according to intestate succession laws. This process may not align with their wishes and can lead to complications, especially for blended families or unmarried partners. Probate courts oversee intestate distribution, which can be lengthy and stressful for loved ones.
Creating an estate plan can help you rest easier knowing your assets are handled according to your wishes while reducing the burden on your family.
Contact Us To Discuss Your Estate Plan
We offer free initial consultations, so there is no risk or commitment in talking with our attorneys about your estate plan. Call us at 772-292-0780 or fill out our online contact form to schedule your free consultation with an experienced lawyer from The Siegel Law Firm, P.A.