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Having a definite plan for the future can bring you both tangible security and peace of mind for the coming years. This includes not just the steps that you can take to ensure the smooth transfer of property to heirs after your death, but it can also involve the movement of assets before that time as well as immediate tax benefits for you.
A variety of estate planning documents could help ensure a person’s long-term goals are met, including wills, trusts, powers of attorney, and business succession plans. Everyone’s needs are different, as an experienced attorney well knows. A Plantation trusts and estates lawyer at our firm is prepared to discuss your specific goals, the options available to achieve them, and take the lead in drafting the legal documents needed to create a robust estate plan for your future.
Most people imagine estate planning as making arrangements for after their death. While this is certainly true, comprehensive plans can also help people to live in comfort and stability for the coming years.
The core of any effective estate plan is a will. Wills inform the probate court as to what a person wants to happen to their assets after their death and who they nominate as an executor of their estate. To be effective, a will must conform to the rules of construction present in Florida Statute § 732.502. This requires the testator to sign the document in the presence of at least two other witnesses who must also sign the paperwork. A Plantation trusts and estates attorney is prepared to take the lead in forming wills to ensure their legal accuracy.
A comprehensive estate plan could also help people to live out their remainder of their lives with considerable advantages. This could involve transferring property into a trust so that they no longer need to pay taxes on those items. It may also include drafting long-term planning documents, such as living wills, that help them to retain control over their lives should an illness or injury leave them unable to do so. Speaking with a seasoned lawyer in Florida can help reveal the potential short-term benefits of creating an estate plan.
Modern estate planning techniques require an examination of a person’s full catalog of assets and their plans for that property. While a will forms an essential part of these plans, it is far from the only viable option for people seeking to secure their futures.
Trusts have become far more popular over the past few decades, due to their tax-free nature. These allow for the transfer of property between parties at any time, not just upon a person’s death.
People who hold significant business assets may also want to consider a business succession plan. These can leave instructions for a company’s board of directors, nominate a successor to a leadership role, or transfer business holdings to specific heirs.
Powers of attorney can be extremely valuable. The maker can empower another person to take control over the important decisions in their lives. This can help with the sale of property or the receipt of important government benefits.
A Plantation trusts and estates attorney can help individuals evaluate their specific needs concerning estate planning and determine what documents may be most beneficial.
It is never too early or too late to form or revise an estate plan. These collections of documents can inform courts as to your wishes after your death, promote your vision about the future of your company, or provide for the long-term financial security of friends or family members.
Talking with a Plantation trusts and estates lawyer can help you identify your needs and recognize which legal documents can make these needs a reality. They work with people like you to locate assets, identify topics in need of attention, and draft documents that provide both short and long-term protection. Reach out to All Florida Real Estate Lawyers now to schedule a consultation.
