Wills and trusts are important legal documents that let you decide before you die what happens to your assets and property after you die. Our experienced Florida estate planning attorneys create an estate plan to include both a will and a trust to carry out your wishes and protect your estate.
A will goes into effect after you die and directs the distribution of your estate to your heirs. To be valid, a will must be signed and witnessed according to specific Florida requirements.
You can name someone in your will to handle your estate called the personal representative. They may be a family member, friend, or professional, such as your Florida estate planning attorney. You can also appoint a legal guardian for minor children and include instructions for your funeral and burial.
A judge must validate a will as part of a court process called probate. The will becomes a matter of public record because it’s filed with the court. The probate court oversees the administration of the estate by the personal representative and resolves any disputes. Our Jacksonville estate planning attorneys and probate lawyers can support you through this process.
Unlike a will which only takes effect at death, a trust goes into effect right away when assets are transferred to the trust. A trust legally transfers assets from the owner, or grantor, to a trustee. A trust establishes the terms for the trustee’s management of the assets, distributions to designated beneficiaries, and the ultimate transfer of the assets at death.
A revocable living trust is a very common type of trust. It’s created while the grantor is living, and the grantor normally is also the trustee. It can be changed in the future, which makes it a flexible and adaptable estate planning solution. There are many types of trusts to accomplish specific goals, including irrevocable trusts that provide asset protection when planning for long-term care expenses. Our Jacksonville estate planning attorneys and elder law lawyers help determine which trust is right for your situation.
Probate is avoided with a trust. This is an important reason to add a trust to an estate plan along with a will because probate can last a long time and be very expensive. Another advantage of a trust is protecting a beneficiary’s inheritance from irresponsibility or from external risks, such as a child getting a divorce or incurring liability from a car accident. Talk to our probate attorneys about Florida estate administration.
Our experienced Jacksonville estate planning lawyers and Florida estate administration attorneys focus on estate planning tools and elder law services to help you establish a will and a trust that carries out your wishes.
Our estate planning law group is here to help you and your loved ones understand estate planning, elder law, post-death administration, and business planning in Duval County, Florida. If you’re interested in learning more about our legal services from our experienced Jacksonville, Florida, estate planning attorneys, please don’t hesitate to contact us by booking a call today.
At Legacy Planning Law Group, we work with you to the create a plan that protects your family and preserves your legacy so you can have confidence about what lies ahead and finish the race strong.