Ensuring Inheritances Pass To Loved Ones Properly
For residents in Florida, there are several reasons why it is important to draft an estate plan. Our law firm understands that it can be challenging to think about death and how their assets will be treated in the event of their death, but it is important to think about inheritances. Drafting a will or a trust could help ensure that their property and assets are properly passed to their loved ones in the manner they choose. Furthermore, it could provide rights to their beneficiaries after their death.
A will and a trust can help individuals accomplish various objectives. While it is important to establish how a person wants their property treated in the event of their death, it is also important to think about different concerns and consequences that could result when these documents are administered. Specifically, understanding the tax implications involved during probate and how that could affect their beneficiaries.
Our attorneys understand the possible consequences during the administration of a will or trust and can adequately explain these outcomes during the estate planning process. Each route has different short-term and long-term benefits, so it is important for individuals to realize these and how they can affect those who inherit their property or assets.
When drafting a will or trust, it is important that these documents not only contain the wishes of the drafter but also that it is valid. Our law firm's overview regarding the drafting process can help outline an individual's options when deciding inheritances. This could help them avoid pitfalls and ensure that their estate is passed along to loved ones in the manner that they have chosen.
On behalf of J. Kelly Kennedy, Attorney/CPA, PLLC posted in Inheritances on Friday, October 24, 2014.