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Putnam County Estate Planning Attorney
What Is Considered Estate Planning in Florida and Why Is It Important?
Estate planning puts you in control of your asset management. Absolutely everyone can benefit from having an estate plan in place, regardless of age, income, or health. There are several ways that you can prepare for the distribution of your assets.
- Establishing asset ownership
- Designating beneficiaries of particular assets
- Covering debts with various types of insurance
- Creating a last will and testament
- Obtaining a living will
- Creating a living trust
- Designating a power of attorney
- Designating a health care power of attorney
- Creating a statement of desires
- Providing representation in probate court
How is an Estate Divided Without a Will in Florida?
If you pass while unmarried and have surviving children, those children (or their descendants) divide your real estate if there's no will in Florida. The court will also determine who will gain everything if you have a surviving parent(s) or sibling(s) with no surviving spouse or children.
Dealing with matters of estate planning can be an uncomfortable proposition, but it is also an extremely important one. Knowing that you have a plan in place when you pass away, or if you become incapacitated, can offer great peace of mind to both you and your loved ones. At Hedstrom Law, P.A., our Putnam County estate planning lawyers have everything you need to ensure that you do not have to worry about what will happen to your assets or to those under your care when you are gone. We are experienced in helping people just like you to maximize the amount that their families receive.
What Happens to Your Estate If You Die Without a Will in Florida?
In Florida, if someone passes away without leaving a will for the distribution of their assets, the state will distribute all assets according to Florida's Intestate Succession laws. In general this means that your assets will pass to your immediate family first (spouse and/or children). If you have no surviving spouse or children, your assets will then pass to parents or siblings (including half-relatives). On the rare occasion where an individual dies and leaves behind no family, their property will be taken by the state.
If you want to control who gets your assets when you die, it's important that you establish a will that specifies how your estate should be distributed. We can help you through the process and offer kind counsel and guidance to help you ensure your estate is in good hands.
How Much Should I Expect to Pay for Estate Planning?
There is not an exact amount you can expect to pay for estate planning in Florida. The costs will vary depending on the size and complexity of the estate and the legal costs that accompany it. Some attorneys offer a flat fee, and others will bill per hour. Contingency fees are sometimes included as well. If you have any questions about starting your estate plan and what the costs will look like, do not hesitate to reach out to our Putnam County estate firm for help.
Estate Planning FAQs in Florida
What is included in an estate?
Legally, an estate is defined by everything that a person owns. This includes sole and joint ownership, partnership, trusts, life insurance, etc. Estate items will include the following and more:
- Life insurance
- Property (such as houses and buildings)
- Personal property (such as cars, stocks, furniture, jewelry, art, etc.)
- Business interests
- Powers of appointment
- Claims against others
Is it necessary for me to create an estate plan?
You will want to create an estate plan if at least one of the following are true:
- It matters to you who inherits your property
- You want to control your health care treatment
- You have a minor or disabled child
- You want to avoid possible guardianship or probate proceedings
When should I create an estate plan?
The sooner the better! Obviously, you must be alive to create your plan, and you will want to have full legal capacity to enter into a contract. Contact our firm if you have any questions about your legal capacity.
Should I ever make changes to my estate plan?
If it makes sense, yes. Circumstances that might cause you to change your estate plan include changes in beneficiaries, property, or family (such as marriage, divorce, birth, adoption, etc.).
Does an out-of-state will apply in FL?
Each state has laws that govern wills. Because of this, if you move to Florida from another state you should meet with a Florida estate planning attorney to ensure that your will can be administered effectively in Florida.
Skillfully Handling Trusts, Estates & Probate in St. Johns County, Flagler County, Duval County, and Putnam County
The various forms of estate planning can leave people confused. Because of this, many people put it off until it’s too late. Our experienced estate planning attorneys in Putnam County can help you get started today. Let us work on your behalf to ensure the best management of your assets for the greatest well-being of your loved ones.
Why Call Our Estate Planning Lawyers?
- Free Consultations
- Relationship-Based Legal Representation
- Strong Work Ethic & a Proven Track Record
- Genuine, Experienced & Compassionate Counsel
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