No one really wants to talk about what will happen when they pass away. Planning for your estate ahead of time benefits you, your family, and your loved ones. Otherwise, any money or assets left after death may join the Billions of Dollars in unclaimed assets and bank accounts held by the state Treasurers. Instead, you can create a clear outline for how you wish assets and property to be divided in the case of your passing. It can also provide your loved ones a great sense of relief when faced with the inevitable.
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Legal Representation in Probate Court
Your Estate Planning Attorney will take on several responsibilities involving estate management and documentation. An estate lawyer can resolve court matters by dictating your wishes clearly and concisely. The legal help provided to you also includes drafting documents that help ensure a clean, quick division of assets and property. Hiring legal help may seem unnecessary at first, but the value comes from the money, time, and heartache you save your loved ones from involvement in probate courts.
According to an article from the wall street journal, you should be sure to have 25 documents in order, and tell your family where you keep these documents. A well-drafted plan will reduce the likelihood of court battles between your loved ones involving assets and property division. With the help of an Estate Planning Attorney, you will better understand the tools at your disposal and how to best take advantage of them for planning on the inevitable. After all, the best way to plan for the future is Today!
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When you plan ahead, you can lessen the burden that a sudden passing could have on your loved ones. Proper documentation establishes clear lines for property and asset division. The documents will save everyone time, money, and emotional stress that could otherwise be wasted in Probate court.
Estate Planning and Probate Court
When someone in Miami passes away without leaving behind a will, their estate is classified as “intestate”. The results of an intestate passing include a lack of clear instructions for asset and property division. If this is the case, Florida probate courts will become involved upon petition of any surviving heir or other individual(s) that may claim any right to the estate and such legal proceedings will dictate the divisions by order of court.
Probate court should be avoided due to the tolls it can take on your money, time, and control. When property falls to probate court, the legal system decides on the fair division of property and assets, rather than those decisions falling to your loved ones or friends. Your loved ones’ lack of control will extend the estate delegation timeline and pile up additional legal fees which can lead to loss of property, financial duress, and emotional stress. These problems may easily be avoided if proper documentation is in place that clearly dictates your decisions and avoids unnecessary legal proceedings and the distribution of your assets per your wishes.
Planning Ahead with Trusts and Wills
You and your Estate Planning Attorney can work together in order to create the documents you need to ensure a clear division of assets and property. A Will provides the final say on asset division. It requires thorough wording and smooth implementation. Our experienced Estate Planning Attorneys will assure that nothing is overlooked for your wishes to be carried on to your loved ones after death.
A trust is an active way to have your opinions voiced. This document is particularly important during situations where you are still alive, but are unable to voice any of your wishes such as in the event of a incapacitation. Both wills and trusts allow for your opinions to be understood, and both must have legal overview during drafting to ensure that they are legally legitimate.