Your Will Should Be A Reflection Of Your Life
Many Americans are under the mistaken belief that estate planning is only for the wealthy. At Vollrath Law, we believe that everyone needs a will, irrespective of the amount of money they have or property they own. The document allows you to take control in planning your estate. You and your loved ones are entitled to the peace of mind that comes with proactive steps that clarify your wishes and goals.
A will is a legal document that explains your wishes on how your property is to be distributed upon your death. If you die without a will, the ever-changing Florida laws on dying intestate will dictate those decisions, not you or your family. With a will, the probate process is simplified and provides your selected representative or executor the blueprint for distributing your assets.
It’s Time To Get Your Personal Documents In Order
Another common misunderstanding is that a will is something you can wait until later in life to create. If you have loved ones in your life and any amount of assets, you should have a basic estate plan in place.
During your free initial consultation with estate planning lawyer Stephanie Vollrath, we will spend time with you to identify your specific objectives. We can conduct a thorough review of your current estate documents, even if they are several years old or created in another state, to ensure that they comply with Florida’s requirements.
A will is only one part of a comprehensive estate plan. Additional documents are strongly recommended, each one having its own purpose. These include:
- Durable power of attorney allows you to designate someone to make your financial and business decisions, which includes signing contracts, deeds, tax returns and other documents.
- Health care surrogate is also known as a health care proxy. This is a person that you designate to make medical decisions for you if you are unable to communicate your wishes.
- A living will establishes your wishes when you are dying and cannot express them. You make the decisions regarding end-of-life care, including nutrition, artificial respiration, resuscitation or medication to relieve pain that also may hasten death.
Trusts May Make Sense
There are many types of trusts that may be appropriate to include in your estate plan. Trusts serve a variety of roles, including:
- Avoiding, minimizing or postponing taxes
- Avoiding probate
- Passing assets to children from a previous marriage
- Supplementing the care of a special needs child
- Creating a nonprofit organization or establishing charitable contributions
A living trust is a valuable estate planning tool. It can be employed to avoid the expense of probate and offers more privacy in the probate process. However, you need to have a skilled and experienced attorney at your side in order to create or amend a valid and effective trust.
At Vollrath Law, we assist residents of central Florida with the preparation and administration of living trusts, testamentary trusts, revocable trusts, and irrevocable trusts. We also offer trust beneficiaries assistance with the preparation and filing of necessary documents, as well as the administration of trusts.
We know the estate planning world is loaded with legalese that can make it difficult to determine what is being accomplished. We emphasize clear communication in a language our clients understand so they are aware of all their options and can make informed decisions.
Navigating You Through The Process Of Trust Administration
Trust administration is a legally complex process that requires the help of a lawyer. Specific steps may be required, including:
- Preparation of fiduciary income tax returns
- Trust modifications, revocations and terminations
- Actions to determine beneficiaries
Emotions can come into play in the administration of a trust, especially when disputes arise. Stephanie Vollrath, the founder of our firm, protects the best interests of her clients in resolving emotionally charged issues in mediation or litigation.
Contact Vollrath Law
Creating a comprehensive estate plan with a will and other important documents is not something you should postpone any longer. To schedule a free initial consultation with an experienced Oviedo wills and trusts attorney, fill out our intake form or call our law firm at 407-900-0464.