Issues with Estate Planning in Plantation

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Having a comprehensive plan for allocating your assets after you pass on serves to protect your immediate future and the property rights of your heirs. It is vitally important that you be able to recognize the common issues that can arise during the estate planning process in Plantation and how to address them.

Speaking with an experienced trusts and estates attorney today can help you address your concerns. They can work to evaluate your current estate plan and identify any potential areas of weakness. Reach out to All Florida Real Estate Lawyers to learn more.

Identifying the Needs of Clients in Building or Modifying Estate Plans

A comprehensive estate plan must represent the entirety of a person’s assets. This includes things they want to pass to heirs after their death and property preservation in the coming years. To this end, one common issue that can arise during the estate planning process in Plantation is gaps in coverage.

Consulting with a legal professional allows them to provide an analysis of a current estate plan. Whether this includes prior testamentary documents like wills or if a  person needs assistance in locating their assets, an attorney is ready to evaluate current vulnerabilities and identify areas that require attention.

The Selection of Qualified Beneficiaries

Another common issue that can arise during estate planning is the choice of beneficiaries. While it is true that testators are free to name any person that they want to inherit their property, some people are ineligible to inherit assets directly. This is the case for any beneficiary under the age of 18. Instead, the probate court will appoint a guardian to oversee the property or may order the creation of a trust to protect it until the individual becomes of age.

Selecting Estate Planning Documents that Fulfill Specific Needs

Estate plans come in many forms. For most individuals, having a simple will in place is all that they will need. A qualified attorney can help identify assets and draft wills in ways that meet Plantation’s specific rules for construction to ensure that legal validity is not an issue. For example, Florida Statute §732.502 states that a testator must sign their will in the presence of at least two witnesses. In addition, these witnesses must also sign the document.

Other estate planning options offer greater flexibility. For instance, a trust can allow for the tax-free transfer of property at any time in the future without the need to go through probate. In addition, a business succession plan can make arrangements for the future of a small business or the inheritance of shares of stock in larger corporations. An attorney can help address these choices to find the most suitable for an individual’s circumstances.

Speak with a Plantation Attorney Now to Discuss Potential Issues with Estate Planning

Effective estate planning requires strict attention to detail and the ability to interpret the state’s probate laws properly. This includes identifying your assets, naming heirs who will be able to seamlessly inherit property, choosing the estate planning documents that best fit your needs, and properly creating these documents.

A knowledgeable attorney can help provide guidance in these areas to minimize the potential for issues with estate planning in Plantation. Contact All Florida Real Estate Lawyers to schedule a consultation to learn more.