How an Attorney can Help Manage your Trusts and Estates
Estate planning, trusts, probate, and guardianship law can sometimes be difficult to understand as these laws are quite complex. Seeking help from a probate or estate planning lawyer can help you understand the processes involved in ensuring the future security and the welfare of your family.
An experienced West Palm Beach probate lawyer can help manage trusts and estates in the following ways:
- Probate administration involves proving the validity of a deceased person’s will in court, paying debts and taxes, distributing property as stated in the will, transferring title and ownership of assets to the proper beneficiaries
- Trust administration involves ensuring that the assets of the trust are managed and distributed properly
- Personal representative guidance involves ensuring that the personal representative, executor or executrix follows Florida Law while handling the decedent’s affairs
- Writing wills, trusts and estate plans involves guiding clients to the proper tools to protect their property and assets for the benefit of their heirs and ensure their wishes are respected regarding the disposition of their property
- Fiduciary accounting and tax compliance involves providing clients with guidance to ensure their estate plans are structured to comply with laws of finance and taxation
- Investment tax and due diligence services involves developing strategies to protect assets and properties for one's heirs
For more information on estate planning, probate, trusts, and wills, contact an experienced wills attorney in West Palm Beach who will help you understand the law and plan your family's the financial future.
Questions About Estate Planning in Florida
Estate planning can sometimes be a difficult and confusing process to understand, which is why there are legal professionals who can help guide you in the right direction. Here are a handful of common questions that are asked during the estate planning process, with the answers provided by lawyers who have had experience in dealing with these aspects when they come up as their clients are dealing with probates, wills and other estate planning matters.
Can I take issue with the inheritance I received from my spouse?
Yes. If you are dissatisfied with the portion of the estate that your spouse has left you, Florida law allows you to take the elective share. This elective estate is determined by a formula based on the amount of probate and non-probate assets. In Florida, the elective share is 30 percent of the elective estate. If you are displeased with your spousal inheritance, a Jacksonville estate planning attorney can help by assessing the components of the estate and advising you whether you will benefit from taking the elective share.
Does a home have to pass through probate?
Florida homestead laws are complicated. The Florida Homestead Exemption means that a surviving spouse or lineal heirs have the right to receive the primary residence of their family member. Creditors may not make claims against the property, except for the bank holding the mortgage. However, there can be circumstances which require the home to be transferred through probate and great expense can be incurred. When you work with Todd Watson on your estate plan, he makes sure that your home is properly designated in your will to transfer smoothly without undue expense.
Do I have to pay my deceased spouse's bills?
No. Your spouse's estate is liable for outstanding bills, including medical bills. However, you remain responsible for any debts that bear both your name and the name of your deceased spouse. These may range from credit cards to deeds for secured assets such as car loans or mortgages. If your deceased spouse's estate is in probate and you cannot afford to make payments on your shared bills, I help you petition for temporary relief from the estate.
Does Florida law require my estate to go through probate?
No, not your entire estate. Most assets in your name at the time of your death are subject to probate, but it is up to you whether to leave your assets in your own name. For example, real estate titled as "Joint Tenants with Right of Survivorship" and bank accounts titled as "Transfer On Death" are not subject to probate. Also, assets that have a beneficiary designation, such as life insurance or certain retirement accounts, are not subject to probate. You and Mr. Watson discuss all of your probate and non-probate options when planning your estate.
If you have more questions about estate planning, or require legal assistance with your wills, probate or other issues in the state of Florida, contact an estate planning lawyer in Jacksonville at the law firm of Todd Watson, P.L. to help sort out your estate planning matters. Call today for a free initial phone consultation to find out how an experienced attorney can make your process go as smoothly as possible.
Why You Should Hire a FL Probate Attorney
In Florida, the probate process can be complicated and sometimes very detailed. When a personal representative is asked to prepare the necessary paperwork to probate a will, the person may be emotionally distraught and unable to clearly determine what is needed by the circuit court. A FL probate attorney can help to avoid mistakes in filings, make the necessary corrections, and explain different scenarios that affect the rights of the individuals involved in a probate proceeding. Other prime duties of a probate and wills attorney can include the following:
- Identifying assets: A probate lawyer has the knowledge and experience to easily identify what assets are considered probate property and which are exempt from probate.
- Marshalling of assets: The marshalling of assets, (the process of collecting and accounting for the assets of a deceased person, or decedent) can often be complex and take a lot of time. This requires the collection and accounting of all assets of the estate, not just those assets subject to probate. Once the property is identified, a Florida probate attorney can begin classifying the property into exempt, probate and non-probate property. While this can be the job of the personal representative, a probate lawyer has the advantage of being experienced in this process -- and being emotionally separated from the assets.
- Completing paperwork: A probate attorney can also help to complete the necessary paperwork of probate, which includes court documents and federal tax documents. In fact, the circuit court requires specific documents to account for assets and debts of the estate. In addition to the court’s requirements, various tax forms must be completed before the estate can be closed. Probate attorneys will understand the details of these documents and know how to correctly prepare them.
Hiring a FL probate lawyer can be the simplest answer to many of the difficult questions presented by a probate proceeding. If you are in need of a skilled, experienced attorney to handle probate and wills in Florida, contact Paul H. Nessler, Jr., P.A. today.
The Benefits of Hiring a Probate Lawyer
Probate can be an adversarial aspect of the law, especially when litigation is involved. If you find yourself in the middle of such a dispute, you want an attorney who is not only knowledgeable about probate in Jacksonville, but a staunch defender of your interests in court.
How a Jacksonville probate lawyer can help
You want a skilled and effective Jacksonville probate lawyer if you face any of the following legal issues:
- Estate litigation. The assets in a will seem to attract a great deal of attention once they are made known. Creditors, tax collectors, heirs, and other parties suddenly want to have a say in how the funds of the deceased are disbursed. Jacksonville probate lawyers advocate on your behalf to see that benefits are paid to you in a fair manner, one reflecting the true intentions and obligations of the deceased.
- Contested wills. The interpretation of wills is a very intricate and complex area of the law. Attorneys who are familiar with the probate process can examine important documents left by the deceased, including wills, in order to secure a favorable outcome for clients in court.
- Guardianship challenges. Conflicts over the care of minor children, or, in some cases, legal wards of the deceased, are some of the most emotional disputes that can occur during probate. When the future of those you love is at stake, retaining an experienced and committed probate lawyer is absolutely essential in order to protect their rights.
- Other probate concerns. While it is certainly possible to go through probate in Jacksonville without encountering legal controversy, the process is much more likely to go smoothly with assistance. If you are the executor of an estate, or simply have questions about how probate works, seek knowledgeable legal counsel as soon as possible. This way, you are assured of doing everything in your power to see that the will of your loved one is carried out promptly and in accordance with his or her wishes.
Contact Jacksonville probate lawyers today
When it comes to selecting a Jacksonville probate lawyer, you need one who can provide confident legal guidance. The team at Grady H. Williams, Jr., LL.M., Attorneys at Law, P.A. has the experience and the compassion to partner with you in the journey ahead. Contact online or at 904-264-8800.
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