Estate planning is a process involving the counsel of professional advisors who are familiar with your goals, concerns, assets, and family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker, or broker. For an estate planning lawyer, be sure to call us at Law Offices of David H. Trevett, PL.

If you die intestate, or without a will, your state's laws of descent and distribution will determine who receives your property by default. These laws vary from state to state, but typically the distribution would be to your spouse and children, or if none, to other family members. A state's plan often reflects the legislature's guess as to how most people would dispose of their estates and builds in protections for certain beneficiaries, particularly minor children. In fact, according to Forbes, estate plans left to minors will allow you to name a legal guardian until they reach 18 years of age.

That plan may or may not reflect your actual wishes, and some of the built-in protections may not be necessary for a harmonious family setting. A will allows you to alter the state's default plan to suit your personal preferences. It also permits you to exercise control over a myriad of personal decisions that broad and general state default provisions cannot address. For a wills and trusts lawyer, be sure to call us!

Much has been written regarding the use of "living trusts" (also known as a "revocable trust," "inter vivos trust," or "loving trust") as a solution for a wide variety of problems associated with estate planning that wills cannot address. Some attorneys regularly recommend the use of such trusts, while others believe that their value has been somewhat overstated. The choice of a living trust should be made after the consideration of a number of factors. 

The term "living trust" is generally used to describe a trust that you create during your lifetime. A living trust can help you manage your assets or protect you should you become ill, disabled, or simply challenged by the symptoms of aging. Most living trusts are written to permit you to revoke or amend them whenever you wish to do so. These trusts do not help you avoid estate tax because your power to revoke or amend them causes them to continue to be includable in your estate. These trusts do help you avoid probate, which may not always be necessary depending on the cost and complexity of the probate in your estate. 

You can also create an "irrevocable" living trust. This type of trust may not be revoked or changed, and such a trust is almost exclusively done to produce certain tax or asset protection results, which are beyond the scope of this summary. 

A "living trust" is legally in existence during your lifetime. This has a trustee who currently serves and owns property which, generally, you have transferred to it during your lifetime. While you are living, the trustee, who may be you, although a co-trustee might also be named along with you, is generally responsible for managing the property as you direct for your benefit. Upon your death, the trustee is generally directed to either distribute the trust property to your beneficiaries or to continue to hold it and manage it for the benefit of your beneficiaries.  Like a will, a living trust can provide for the distribution of property upon your death.

Unlike a will, a living trust can also provide you with a vehicle for managing your property during your lifetime, and authorize the trustee to manage the property and use it for your benefit, and your family's, if you should become incapacitated, thereby avoiding the appointment of a guardian for that purpose. For more information, be sure to call us and work with a qualified wills and trusts lawyer.

Probate is the formal legal process that gives recognition to a will and appoints the executor or personal representative who will administer the estate and distribute assets to the intended beneficiaries. The laws of each state vary, so it is a good idea to consult an attorney to determine whether a probate proceeding is necessary, whether the fiduciary must be bonded (a requirement that is often waived in the will), and what reports must be prepared. Most probate proceedings are neither expensive nor prolonged, which is contrary to the claims of many vendors selling living trusts and other products. 

The basic job of administration and accounting for assets must be done whether the estate is handled by an executor in probate or whether probate is avoided because all assets were transferred to a living trust during a lifetime. Many states have simplified or streamlined their probate processes over the years. In such states, there is now less reason to use probate avoidance techniques unless there are other valid reasons to continue to minimize probate. In planning your estate, more important than minimizing probate is minimizing the real issues that can make probate difficult, such as lawsuits by heirs. For a qualified probate attorney, call us today!

No, your personal liability depends upon the type of entity you select and how you conduct your business. If you're in need of a probate attorney, be sure to call us.

First, choosing the right type of entity such as a limited liability company, corporation, or limited partnership is important for liability protection. However, you can provide yourself with even greater protection by creating a more complex business structure and ensuring your business performs properly. Finally, you must follow important guidelines in how you personally operate, sign documents, and represent yourself to the public and your creditors. For help with personal or business contracts, be sure to call us.

After going through the online process with a national online company, we found a number of shortcomings. You should consider these factors before deciding whether an online legal services company is your best choice:

• They do not analyze what type of entity is best for you.
• They do not discuss the levels of liability protection available to you nor how to conduct your business for maximum protection. 
• Their online applications do not discuss your business goals with you. 
• If you do call to speak to someone on the phone, just who are you talking to and what do they know about Florida law? Will you get to speak to the same person each time you call? 
• You will not have the chance to see the form contracts they offer you before you buy them. 
• The contracts you buy from them will be one-size-fits-all and may very well contain provisions not appropriate for your situation.
• They will not advise you about the local regulations, such as zoning, which may restrict your business operations or prohibit it completely at the location you choose.
• The information they request in order to prepare an agreement between multiple company owners is scant and is very unlikely to result in a good agreement for you. And then, who will answer your questions? 
• They do not discuss your business succession or liquidation plan.