Estate plan would always be the resort to establish or implement your desire over your estate and other properties. As such, you need to make the right estate plans. The first step to making this plan is making a resolute then contacting a nearby estate lawyer. This would help reduce stress in locating a lawyer but also give you the opportunity of building the right relationship with an estate lawyer very enlightened about the estate laws in Miami. This lawyer would guide you through making any state decision. Most times, having several estate document may not be necessary, an estate attorney would craft out the most applicable estate plan for whatever purpose.
Why you need an estate plan.
You don’t need to get so old or to have acquired all known assets or possession to start making estate plans. The more you wait, the more likely you might need to make a rush hour plan likely open to forfeiture, non-implementation, and extremely long probate processes.
Protection for your children or assets beneficiaries.
Estate plan would protect your family and loved ones from loss of any kind. You can appoint a guardian for minor children. Through a well-established estate plan, your assets beneficiary would not need to go through the stress of probate before getting the assets that are rightfully theirs.
Reduction of taxes on estate.
Proper estate plans would reduce excessive estate taxes. When an asset is transferred to a beneficiary, federal and state taxes and other types of inheritance taxes is reduced. Also, married couples can create a trust account or have their assets in a joint trust to reduce taxes.
Avoiding probate issues.
A proper estate plan would not need to go through probate before implementation. An estate planning lawyer would typically guide you to creating other estate document. These documents such as living trust would eliminate the long probate process when transferring assets to desired beneficiaries. Probate is often carried out on the will of a deceased. Upon the death of the decedent, the will is to be presented to court for the probate process. Probate is simply carried out to determine the validity of a will. If the will was written by another person other than the owner of the estate, or if the will was written under duress, it is the job of the probate court to find that out and take necessary actions. The probate process is often dreaded by most people because of several reasons. This process can be long, though this depends on the circumstances surrounding the estate.
During the probate process, the estate executor is legally approved as the executor of the estate. Without the approval of the probate court, the estate executor can’t perform his or her duties as the estate executor. One of the most important duties of an executor is to locate and settle the debts of the deceased. After all the unpaid debts and taxes of the deceased must have been settled, the money left is then shared to the designated beneficiaries.
Elder law issues.
As a loved one ages, the family members may be concerned with their long-term care. There is a lot of challenging legal issues involved, and it becomes imperative to entrust the matter in the hands of a Miami estate planning lawyer. At our estate planning law firm in Miami, our lawyers specialized in Elder Law will look into your situation with empathy and help plan towards getting long-term care, and ensuring that possessions are properly and efficiently passed down. To this end, our elder law services include, Planning and applying for Medicaid, guardianship, creating wills, trusts, and powers of attorney, and living wills and lastly asset protection
Essential estate planning tips.
- Estate plans can be made to reflect and implement your mid, short and long term plans. However, you can speak with an estate planning lawyer to know suitable documents that would reflect these plans.
- Since estate plans are made in preparation for any uncertain life occurrences, you need the right lawyers to ensure your desired and plans are duly implemented.
- Our Miami estate planning lawyers would guide you through any probate process. Also, the estate lawyer can step in a play the role of the executioner of your estate plan.
- The living trust is an essential estate document. While other estate document such as last will may go through probate before it can be implemented, the living trust allows transfer of assets without any probate process.
Contact a Miami Estate Planning Lawyer near you today.
Estate planning can be a tough task, depending on how you want your estate to be planned. Ever more complicated is planning it all by yourself. To ensure that your estate is well planned, it is best you contact a professional, one who is quite conversant with estate planning and the estate planning laws in Miami.
If you reside in the city of Miami and you need help regarding the planning of your estate, you can contact our estate planning lawyer in Miami.