Functions of Estate Planning Attorneys in Florida
Estate planning is a service that requires close attention and use of the right legal processes as it involves planning for one’s future assets, in case of death. One must ensure they make the right decisions regarding the protection and distribution of their estates. For that reason, estate planning attorneys in Florida is committed to offering assistance relating to the distribution of one’s assets when they pass on. It involves using their professional experience to draft estate planning documents, including trusts and wills.
Wills & Trusts
A will or testament is a legal document that protects one's assets. The purpose of a will is to;
- Name a personal guardian to help in taking care of minor children
- Leave one’s property to an organization or people
- Name a person who will manage the property left to minor children
- Name a trusted representative to make sure that all the wishes outlined in the will are followed.
When one dies intestate in Florida, the distribution of their estate is determined by the state's intestacy laws. These laws state that property is given to one’s closest relatives; children and spouse. In case the latter does not exist, the property is to be given to one’s parents or grandchildren, or any member of extended family.
Estate planning attorneys help in the drafting of the will and keep a copy in case of loss of the original. They also handle complications relating to minor children cases and issues involving estate tax implications. Estate planning lawyers help settle issues one wants to be included in the will but are contrary to Florida Law.
Trust is a legal agreement under which a trustee holds the title to property legally for a beneficiary. One can be a trustee of their property and have full control of the property that is held in a living trust.
A living trust is created when the owner of the property is alive, and the beneficiaries receive the property held in the trust after the death of the owner.
Power of Attorney
It is a legal document that delegates authority from one person to another. The maker of power of attorney, also known as the principal grants the right to act on behalf of the principal.
Florida Law provides for; limited power of attorney, the general power of attorney and durable power of attorney and lawyers at Imudia Law assist with the type of power of attorney one needs and its enforceability.
Guardianship
Estate planning attorneys deal with cases involving guardians of nursing home residents in Florida and are ready to help out where one takes action against their parents.
Conclusion
Florida estate planning attorneys offer clients various strategies in estate planning and help them maximize their value, minimize taxes and eradicate the accumulation of high court costs. Imudia Law is the ideal firm to have an estate protected during your lifetime andfor future purposes. The attorneys will help you achieve this by drafting documents that allow you to transfer property to beneficiaries or charities as you desire.