Estate planning attorneys are the most experienced and licensed legal professionals who carry out a lot of things that help people smoothen property-related issues. Since they have a thorough understanding of state and federal laws, their skill will be inventoried, valued and distributed after the demise of the property holder. Since estate planning attorneys in Florida carry out a lot of duties, it depends on several factors like your assets and your long-term care and estate planning goals. Here are five main things an estate planning attorney does for its clients.
1. Helps in Drafting Wills:
The wills carry a lot of importance for the property holders. This is why the attorney must ensure this document is drafted, signed and executed. Since the estate planning attorney in Florida has adequate knowledge and experience to make such drafts free from errors, they advise you on the best legal options and documents that protect the assets.
2. Makes Trusts, Healthcare Directives, Power of Attorney:
A living trust is a legal document that can easily address your wishes while alive. In the case of a living trust, you can transfer your assets to the heir or your loved ones during the lifetime, and they can't access the property till your death.
In the case of a medical emergency or accident that leaves you unable to communicate, the incapacitated person wishes to have healthcare preferences. Rather than leaving the family member to guess, you can clear the intention now by working with an estate planning attorney in Florida. The attorney also helps draft healthcare directives and powers of attorney that mainly meet properly with assets, lifestyle, and future goals.
3.Helps to Avoid Estate Taxes:
Making trusts is the most used way of avoiding probate and estate taxes. But, there are different ways also available that the estate planning attorney follows to help you to avoid estate taxes. These are lifetime gifts, death beneficiaries and joint property ownership. Trusts mainly list the beneficiaries and offer direction on what happens to the property after the death. This is similar to the wills. While making these things, the estate planning lawyer helps to avoid the mistake by thoroughly drafting the trust by the laws of the state.
4.Trims Long and Costly Probate Process:
Probate can be a long and stressful process according to the assets and estate. Since it involves complex processes, this is not fun for anyone involved and can be an incredibly stressful experience. In such cases, an estate planning attorney in Florida helps cut time by correctly processing this matter without errors.
Estate planning attorneys in Florida work with clients and can let you have a number of benefits. From drafting wills or testaments to making trusts and testaments, they work with clients to simplify these property issues.