Friday, February 17, 2017

Understand Why Estate Planning Is Essential With Tri-County FL Estate Planning Lawyer

By Javier Luque

Are you ready to write your will? A lot of Americans don't think they are. They think these documents are solely for those who have high-value assets and millions to pass on.

The truth is that if you have anyone financially dependent on you, you need to look into making a will. If you do not, then the state of Florida will distribute your assets according to its guidelines - which may not match your wishes or the needs of your family.

You should connect with a TriCounty Area FL estate planning lawyer. You should also have a financial planner on your team - but an attorney who works in estate planning can help connect you with a good advisor or can assist with these needs as well. Be sure to select an attorney who understands Florida probate and tax laws - don't find a lawyer from another region and if you wind up moving to another state, think about having this document rewritten to match the needs of your new locale.

A good lawyer will not present you with a pre-written estate plan but will talk to you about your goals, and design a plan that fits your desires and is appropriate to the amount of money and assets involved.

If your estate will be taxed, the best planners will find out how to reduce your family's tax burden. This can be done by creating trusts - which is something that a seasoned attorney can easily take care of. You will additionally want to make an advanced directive or living will, particularly if your loved ones are not in agreement on this issue.

While you might not have a large estate that entails any major tax issues - making a will is still a good idea, and you want to get guidance for making sure that things are worded correctly so that your assets are passed down just as you want them to be. The choice of an attorney is a critical one, so consider more than advertising when making your decision.

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