When it comes to estate planning, wills and trusts are the most common tools. Each one has its pros and cons, but both are useful -- depending on your family\u2019s goals and preferences. They may be used in coordination to ensure assets will be distributed as intended.<\/p>\n
Wills are generally more simpler to create than trusts but provide fewer benefits. Whether you believe you require one or both, it\u2019s best to consult a wills and trusts attorney in order to proceed correctly. Every state has its legal requirements to follow to ensure a will or trust is valid and will be legally recognized.<\/p>\n
It\u2019s important to follow the legal requisites of creating a last will or trust. Otherwise, unexpected disorder and conflict may arise when it\u2019s time to implement them, and that can make a difficult time even harder for your loved ones. At Family First Firm, we guide you away from such missteps and onto a path to fulfill the vision you have for your assets.<\/p>\n
The primary purpose of estate planning is to ensure your heirs will receive their intended share from your properties. If the documents are invalid, your last wishes might not be followed.<\/p>\n
To avoid such disappointing mistakes in planning for your asset distribution, schedule a consultation with the team here at the Family First Firm. Our wills and trusts attorney can discuss the following with you:<\/p>\n
The question is whether a will or a trust is the right tool for a given purpose. The proper choice depends on your needs and goals.<\/p>\n
A last will is useful if you want to distribute your assets in a general manner. For example, someone might use a will to leave a rare coin collection to a favorite nephew. The details of a will become public information through the probate process, and you or your heirs may not want such information to be widely available. Wills also offer less protection to assets than some types of trusts.<\/p>\n
A trust, on the other hand, is more involved to set up, and there are a variety of purposes. You also need to make sure assets are transferred into the trust (known as funding the trust) after it is drafted so they will be later transferred to the trustee or beneficiary. Fortunately, at the Family First Firm, we do the funding of your trust for you!<\/p>\n
If you want to plan for any potential scenario with your heirs, creating a trust is a better solution. Coordinating your will and trusts is normally the best approach to take. Consult an experienced wills and trusts attorney for guidance.<\/p>\n
A last will may be declared invalid for several reasons. If this happens, the distribution of the estate will be done according to intestacy laws.<\/p>\n
In Florida, the estate of a person who dies with no valid will goes to probate, which can be a long and expensive process. Depending on the existence of a surviving spouse, surviving children, and whether each of those children are shared by both the decedent and the surviving spouse, the estate may be divided in a way that leaves surviving children out of the inheritance \u2014 at least until the death of the surviving spouse.<\/p>\n
Schedule a consultation to speak with an experienced lawyer for wills at Family First Firm in order to prepare valid documents that can avoid bitterness and disappointment among the people you love. Depending on the circumstances, you may find there are opportunities to take steps with your assets that not only benefit your family\u2019s lives, but yours as well.<\/p>\n","extra_heading_1":"","extra_content_1":"","extra_heading_2":"","extra_content_2":"","extra_heading_3":"","extra_contanr_3":"","engagement_section_1_content":"
A living will, sometimes called an advance healthcare directive, is a document that contains a set of instructions that must be followed in case the creator of the living will becomes incapacitated and cannot make medical decisions or choose treatments.<\/p>\n
Unlike a last will, it is not primarily concerned with a person\u2019s assets - it is only concerned with their healthcare preferences. A living will is an important document to have prepared if you prefer to not receive life-sustaining treatments under specific circumstances. If this applies to you, contact Family First Firm to discuss your preferences for a living will.<\/p>\n","engagement_section_2_content":"
Like other states, Florida recognizes revocable and irrevocable trusts. In general, an asset placed into an irrevocable trust cannot be changed but cannot be accessed by creditors. In contrast, a revocable trust allows for adjustments to included assets and other changes to the trust.\u00a0<\/span><\/p>\n There are also a variety of types of trusts with different specific purposes, such as special needs trusts, charitable trusts, and insurance trusts. To learn more, schedule a consultation with a trust attorney at the Family First Firm. <\/span><\/p>\n","medicaid_extra_heading":"","medicaid_extra_text":"","single_practice_area_quote":"","single_practice_area_quote_provider_name":"","practice_area_video_below_lead_form":""},"_links":{"self":[{"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/legal-services\/4916"}],"collection":[{"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/legal-services"}],"about":[{"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/types\/legal-services"}],"version-history":[{"count":0,"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/legal-services\/4916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/media\/5682"}],"wp:attachment":[{"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/media?parent=4916"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyfirstfirm.com\/wp-json\/wp\/v2\/tags?post=4916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}