Estate Planning is a holistic process that includes assessing your assets and determining to whom, among your family, friends or favorite charities, you would like to leave specific assets and gifts. Creating a proper Estate Plan, creating a Will, or setting up a Trusts takes your disbursement goals into account, the state or federal tax implications of your disbursements, and the needs of your family members and beneficiaries.
Estate Planning requires an intimate knowledge of Federal and State Estate Tax Rules—and in adherence to Florida Statutes. The Elder Law Attorneys at Grady H. Williams, Jr., LL.M., Attorneys at Law, P.A., have been creating and executing Estate Plans for the bulk of their careers. Their combined experience as Estate Planners position them to serve your needs.
When executing an Estate Plan, your Elder Law Attorney should ensure that all your needs and desires are being met. Acting as your Estate Planner, your Attorney should take exceptional care to explain the processes of preparing Wills, Trusts, Probate, and Trust Administration. Once you understand how your will affects the overall Probate process, you can make better informed decisions about your Estate Plan.
Often an Estate Planning Attorney makes use of a Trust that is created in your Will. Using this type of a Trust, known as a Testamentary Trust, requires local experience with Trusts and Estates. The interplay between your overall estate plan and your associated Trusts can determine the tax liability, asset protection, and the speed with which assets move to your family or friends.
Our Elder Law Attorneys can help you understand how certain types of Trusts are designed to fulfill specific needs. If you have a child or family member who will require specific and long-term medical attention and care, for example, a Trust can be formed to serve that need. This kind of Special Needs Trust is designed to provide the maximum benefit possible to your family member, without limiting other avenues of help.
Estate Planning is also a process through which you plan for your lifetime care decisions, in the event that you become mentally or physically incapacitated; and planning for the transfer of your assets to beneficiaries in the event of your death, while minimizing tax burdens for your beneficiaries; and protecting them from creditors.
Additionally, Estate Planning also includes preparing lifetime living documents—also referred to as advance directives—that protect you in the event of illness or incapacity. These important documents include:
Designation of Health Care Surrogate: Gives a person you select the ability to make healthcare decisions on your behalf if you cannot make decisions for yourself due to illness or incapacity.
Durable Power of Attorney: Gives someone you choose legal authority to act in your place, during a period of incapacity, and make business and financial decisions for you.
HIPAA Release: Grants a person the authorization to receive your medical information and discuss your medical condition with health care providers.
Designation of Preneed Guardian: Allows you to name preneed guardian by making a written declaration that names such guardian to serve in the event of your becoming incapacitated.
Living Will: Expresses your instructions concerning life-prolonging procedures.
Estate Planning is for people of all ages, and it is not just for the wealthy. If you have any assets at all, you have an Estate, and digital assets can be a part of your planning. As our Elder Law Attorneys help numerous clients in our four locations in Florida’s First Coast Area, we see people from all walks of life, ages, and situations. The people we help create Estate Plans include: Parents of Young Children; Blended Families; Young Dependent Adults and College-age Children; Grandparents; Young Independent Adults; Newlyweds; Widows and Widowers; Business Owners; and People with Disabilities and Special Needs.
Our Elder Law and Estate Planning Attorneys have the knowledge, experience, and the empathy necessary to guide you through the processes of preparing a Will, Trusts, Probate, and Trust Administration. We take exceptional care, as we work with many clients in North Florida, to create comprehensive Estate Plans to address clients’ unique needs and wishes. If you need help with Estate Planning and preparing for your and your family’s future, including making plans to provide for future care of minor children and other loved ones in case of incapacity or death, please do not delay, and set an appointment with one of our knowledgeable, compassionate, and caring Elder Law Attorneys at any of our offices located in Orange Park, Jacksonville, Julington Creek, and St. Augustine.
We are your Florida First Coast Elder Law Attorneys.