Tampa Estate Planning Lawyer
As much as many of us are in denial, we’re all going to die someday. Some people ignore this fact, while others plan for it and ensure their loved ones are provided for.
This is called estate planning, which refers to the various tasks that serve to manage a person‘s assets in the event of their death. Florida has many tools available to help protect your property while minimizing taxes. With proper estate planning, you can ensure a comfortable future for yourself and your loved ones. You can make healthcare and financial decisions for yourself in the event you become incapacitated. Plus, you won’t have to burden yourself and your loved ones with concerns about what to do with your property after you pass away.
Contact Westchase Law today to see how wills and trusts can help manage your assets according to your wishes. Our Tampa estate planning lawyers can help you understand the basics of estate planning and various legal documents involved, as well as help you create an effective long-term plan.
Florida Will Laws
A will is a legal document that outlines how a person’s assets are to be distributed after their death. By creating a will, you can designate exactly where and to whom you want your property to go. Having a will is especially important if you want to leave your assets to a non-family member. That’s because if you die without a will, your property will be distributed based on state laws. Your assets will go to your spouse, children, and other family members—even family members you aren’t close to at all. Therefore, it’s important to have a valid will in place and to ensure it’s executed properly.
In Florida, the will must be initiated by an adult over the age of 18. The will must be signed in front of two credible witnesses, who must then sign your will in front of you and the other witnesses. Florida does not recognize oral wills or holographic wills (handwritten wills not signed by witnesses).
Trusts in Florida
Florida recognizes revocable and irrevocable trusts. The majority are revocable, which means they can be modified at any time. Irrevocable trusts cannot be modified and are often used to remove assets from a person’s estate for tax purposes. A trust allows a third party to hold assets on behalf of a beneficiary in order to avoid probate. It must be drafted by a licensed attorney.
Trusts are not just for the wealthy. Anyone can benefit from having one. Talk to an attorney to find the right one for you based on your goals and desires.
Contact Westchase Law Today
Estate planning is a process that needs to be taken seriously. Many people try to avoid it, but by designating the inheritance of your assets, you can help make things easier in the event of your death.
Death is inevitable. Plan ahead with help from Westchase Law. Our Tampa estate planning attorneys will help ensure your assets are distributed per your wishes and reduce legal headaches. To schedule a consultation, call our office at 813-490-5211.