Estate Planning
Estate Planning
Estate planning
centered on the disposal of assets and the avoidance or reduction of estate taxes, until recently when medical advances helped people to live much longer. Modern estate plans do still consider taxes and asset disposal, though they have been updated to include how a person lives during their advanced years if they cannot care for themselves.
If you make no plans for potential incapacity, the State of Florida
has laws regarding incompetency and guardianship that will make the decisions for you. Wouldn't you rather decide how you will live for yourself, and decide who will take care of you and your affairs under those circumstances? Modern estate planning has the tools necessary to tailor an estate plan to meet the needs and desires of the individual, both during life and upon death. These tools include:
- Living Trusts
- Wills
- Living Wills
- Durable Powers of Attorney
- Designation of Pre-Need Guardian
- Health Care Powers of Attorney and Designation of Health Care Surrogate.
There are many aspects of the estate process which include:
- Notify & Satisfy the descendant's creditors
- Implement procedures to avoid and limit a Will contest or other litigation
- Protect the assets of the estate
- Evaluate issues concerning exempt property, family allowance, and elective share benefits
- Evaluate & discuss opportunities to minimize estate taxes
- Prepare & file tax returns
- Identify, Marshall and inventory the assets of the decedent
- Prosecute or defend lawsuits filed on behalf or against the estate
- Distribute assets
- Prepare Final Accounting of the Representative, and Obtain Receipts and Releases so He or She is Discharged and Not Sued
Contact us today to schedule your free consultation.