Why Hire an Estate Planning Attorney in Florida?

Estate planning is crucial for individuals who want to preserve their net worth in the future. In this sense, strategizing and structuring estate planning is a way to preserve a legacy of decades of hard work on behalf of your loved ones.

However, the process to define an estate planning strategy has its share of complexity, involving a variety of legal issues and several other crucial aspects (family, divorce, business partnerships, etc.).

In this article, we will provide you valuable insights about why hiring an estate planning attorney in Florida may be the solution for your case. 

Estate Planning Strategy – Why is It So Important? 

An estate planning strategy is what determines how an individual’s net worth (property, assets, etc.) will be taken care of after death or in case they become incapacitated. 

This process includes the designation of specific people and methods to preserve, manage, and distribute an individual’s assets when necessary. 

Many people tend to over-simplify the process of estate planning by thinking it is just about making a will. Indeed, estate planning involves the drafting of a will, specially tailored by an expert attorney to suit each case specifically. 

However, other actions may be required, including:

• Setting up trusts.
• Making charitable donations to limit estate taxes.
• Naming an executor.
• Naming beneficiaries. 
• Setting up funeral arrangements. 

An estate planning strategy is essential for individuals who genuinely care about their loved ones, providing the necessary means for:

• Preserving family wealth.
• Providing for a surviving spouse and children.
• Funding children’s or grandchildren’s education.
• Leaving a legacy for a charitable cause.

As it is plain to see, structuring and organizing such a process is not an easy task. Therefore, it is extremely recommendable that you seek guidance with a Florida estate planning attorney to weigh up your options, assess your net worth in detail, and set up a good plan. 

Estate Planning Involves Much More than Numbers – Emotional Factors 

As we grow older, estate planning tends to become a more pressing concern. 

The situation is even more complicated in cases where there is a huge net worth involved, summed up by consecutive marriages, multiple children (either biological or adoptive) and step-children, and other close relatives. 

All families hold their own share of issues, so handling estate planning means much more than dealing with cold numbers. Hence, an estate plan is a perfect opportunity to make sound decisions and communicate your wishes concerning your assets after you die or become unable to handle your finances due to health issues.

A good way is to avoid delay. Think about your estate plan early, seeking the help of an expert attorney to offer helpful insights whenever is necessary. 

Undoubtedly, it is not fun thinking about events involving your death or becoming incapacitated. Nonetheless, the future is unpredictable, which makes estate planning a powerful safeguard for you and your loved ones. 

Protect Your Assets with a Well-Structured Estate Plan

An estate planning attorney in Florida is crucial to maximizing asset protection. This type of action, however, requires a specialized approach, as sometimes asset protection can backfire. 

For instance, let us say an individual named Amos decides to set up an asset protection trust as part of his estate planning strategy. Right after, Amos’s ex-wife manages to obtain a judgment against him. In this case, there is the possibility for Amos to be charged with making a fraudulent transfer.

A seasoned estate planning attorney in Florida will help you to:

• Assess your situation in detail.
• List your wishes/goals.
• Develop feasible and effective solutions for your case.

An Expert Attorney Will Help You to Think About Distinct Possibilities 

While most people confuse estate planning with making a will, other documents also affect the testator. 

When employed in the right way, trusts may help provide income for retirement or protect assets from creditors and ex-spouses. 

There is also the power of attorney, which is a written authorization that allows another person to act on your behalf if you become mentally or physically incapacitated. 

Another possibility is to utilize an advanced health care directive. This document serves to inform family and health professionals about your health care preferences in case you have a medical crisis and happen to be unable to speak for yourself.

Regardless, a reliable attorney will provide you the necessary insights and help you to plan for future potential scenarios. 

We Can Help You to Care of Your Legacy – Call Us to Plan Your Estate Now

Avoid getting caught up in unexpected situations. At Jurado & Farshchian, P.L., we can help you to structure an estate planning to reflect your wishes.

Get in touch with us by calling (305) 921-0440 or by emailing [email protected] to schedule an initial consultation.