Wills and Trust
Orlando Estate Planning
There are many ways to protect the future of your family. By taking the time to develop a comprehensive estate plan, including wills, trust and powers of attorney, you can make sure your wishes are honored and the people you love are taken care of.
A common misconception regarding Wills and Trusts is that only the wealthy should be concerned about it. This belief is so far from the truth. The fact of the matter is that estate planning is necessary for all people. An estate plan provides the legal mechanism for transferring property upon your death in a manner which recognizes your wishes and the needs of your survivors. For many people it also involves creating a plan which will take care of essential obligations and affairs in case of disability and critical personal medical choices which sometimes must be made towards the end of life. Estate planning is not merely for the prosperous, it is necessity for anyone who wishes to be taken care of in old age and ensure that loved ones are cared for once you pass.
I cannot express to you how severely important wills and trusts are. Especially wills!
If you die today without a will, the state will distribute your property to your heirs according to ITS laws. Do you think that distribution will be done with the care, the compassion and the knowing that you would do it in?
In a will, a person defines and declares how their property will be distributed after their death. A state cannot deviate from that.
A trust can be established for the purpose of achieving specific financial objectives such as protecting your assets to funding a college education.
A will and a living trust differ in some key respects. Some differences between the two include:
Probate
Living trusts aren’t subject to probate proceedings, they avoid the costs of a second-state probate proceeding where there is out-of-state property, there is no automatic court supervision to handles disputes, and a it will remain private.
Management of your Assets
Wills allow you, as the grantor, to manage the trust assets as long as you are able and make provisions for a successor trustee to take over in your place should you no longer be capable of managing these assets.
Costs
It is more expensive to fund, prepare, and manage a trust than it is to prepare a will but it avoids probate costs if all assets were part of the trust.
Benjamin Law, P.A. will discuss your desires regarding these critical issues and draft documents that will fulfill your wishes. We will carefully evaluate your situation by discussing your family, your financial position, your values and what you want out of life. Our goal is to achieve your goal.
Schedule a Consultation Today
Contact our office at 407-228-0337 today to schedule a consultation. The office is conveniently located at 250 E. Colonial Drive, Suite 100, Orlando, FL 32801. We are minutes away from the downtown courthouse. Telephone the office for your consultation and driving directions.