Estate Planning is an arrangement made by an individual or family to transfer one’s assets after their death. Estate Planning involves matters such as creating a will to name beneficiaries of one’s estate and establishing trusts to minimize taxes.
Estate Plans are also created to ensure that a trustworthy representative will be handling your affairs—such as personal, medical or financial affairs. This representative is responsible for making important decisions concerning your estate, and to guarantee your wealth is properly distributed based upon your requests.
Without a properly constructed Estate Plan, your assets are at risk of being absorbed to cover taxes and various fees, creating an unnecessary burden on loved ones. By completing your Estate Plan with Attorney, Adam Hood, you’ll receive a properly constructed, customized plan that meets your specific needs and wants, while avoiding many financial risks. Call Attorney Adam Hood today to get started on an Estate Plan that’s perfect for you.
Perhaps the most important step in generating an Estate Plan is the creation of a Will. A properly constructed Will ensures that your requests are followed according to your wishes, and is considered valid by the court. This legal document allows you to appoint an individual to manage your estate, name guardians for your children and transfer your assets upon your death.
In Florida, the process for creating a Will is very complex; defined formalities must be met in order for a Will to be valid and respected by the court. Some of these requirements include signatures from two non-interested persons who serve as witnesses and signatures from the testator/testatrix on the written document. Although it is not required, it is also recommended to have the Will notarized by a public notary.
By choosing Attorney Adam Hood, you will receive a customized Will that suits your priorities, values and preferences, while following the guidelines required by Florida law. Contact Attorney Adam Hood today to get started on establishing a new or existing Will that suits your personal needs and wishes.
In addition to writing a will, Florida residents may also wish to consider the use of trusts in their estate planning. Unlike a will, a trust does not become effective only at death, but can be established during your lifetime. The purpose of a trust is usually to hold assets for you, the grantor, for the benefit of the beneficiaries you choose. The trust is managed by one or more trustees who must ensure that it operates as the grantor has requested. A trust often allows an individual to have more control over how assets and funds are distributed to beneficiaries. For example, money can be allocated for a specific purpose, such as education. A trust also allows you to control trust assets beyond your death. As with wills, a trust must be properly created and administered under the laws of the State of Florida. If improperly created or incorrectly funded, a trust can be deemed invalid. For this reason, it is important to consult a Florida attorney experienced in trusts if you are considering creating one. Contact Attorney Adam Hood today to schedule a consultation to see if a trust is right for you.
Probate is the court-supervised process for identifying and gathering a decedent’s assets, paying taxes, creditor claims and expenses, and distributing assets to the decedent’s beneficiaries. Probate may be required even when a person dies with a valid Last Will and Testament. In that case, the personal representative or executor named in the Last Will and Testament must petition the court to probate the Will. Once the Will is admitted to probate and the executor is appointed by court, the estate can be fully administered and the assets can be distributed to the named beneficiaries.
Unfortunately, the administration and probate of an estate can often be a confusing, difficult, time consuming and expensive process. This is made even more difficult because of the grief surrounding the loss of a loved one. Adam Hood’s experience in handling estates and probate enables him to simplify the probate process for you and your loved ones. Avoid unnecessary mistakes and costly delays. Contact Attorney Adam Hood today if you or a loved one need legal assistance with an estate or probate matter.