Probate is a complex and lengthy process, and it is often the last thing that people want to manage when they are grieving a loved one. Living trusts enable your beneficiaries to bypass the probate process. Without a trust, your assets and estate may be tied up in probate court for months to years, and your beneficiaries cannot access it during this time.
Probate court will also impact the financial benefits that you want to give to your loved ones. Court costs and federal estate taxes will also lessen the value of your estate. Our firm’s clients in Jacksonville, Florida, who have living trusts can utilize their assets during their lifetimes. After death, assets that are placed in a trust avoid probate by remaining in the ownership of the trust and the trustee.
The Law Office of Douglas A. Oberdorfer, P.A., knows that the probate process can be problematic for your beneficiaries if they do not have the funds to maintain their inherited property. A comprehensive estate plan and a living trust can prevent this issue from arising. It can also provide other benefits by protecting your loved ones and safeguarding your assets. Our attorneys can determine your goals for estate planning and work to create a will, a trust, and any other documents that support your goals. For 20 years, our firm has provided compassionate legal care to those dealing with the sensitive and complex issues of estate planning and probate court. Call us today to learn about how a living trust could benefit your heirs.
Proactive estate planning allows you to anticipate both you and your beneficiaries’ future needs, and is one of the smartest ways to ensure your family’s security for years to come. There are a variety of trusts that we can institute to accomplish your goals:
For a trust to be successful, it must be carefully created and legally enforceable. With a solid trust drafted by our firm, you will have a plan for the equitable distribution of your wealth to the people or organizations you name as your beneficiaries. Learn more about how you can use wills and trusts in your estate plan.
Many people create trusts and estate plans to protect their assets and ensure that their family and loved ones receive the benefits of their estate. If your trust or will is found to be invalid, your wishes will not be followed after your death. Trusts and wills can also be disputed by those with interest in your estate, which could undo the work you’ve put into your estate plan. By collaborating with an attorney, you can minimize these risks and create a legally enforceable document that you can feel confident in.
An attorney can also tailor your estate plan to meet your unique needs. You may have specific requirements for the care and guardianship of minor children, how a business is handled, or other specific provisions. An experienced estate planning attorney can determine what estate planning documents in Jacksonville fit your needs.
Avoiding probate is one of the primary benefits of creating a trust. A living trust has several additional benefits, including:
Creating an enforceable and effective trust with an attorney can cost anywhere from $1,000 to $3,000. An attorney’s fees will depend on whether they charge a flat fee or an hourly fee, where their firm is located, and how complex your estate planning needs are. A more thorough estate plan will be more expensive.
A will and a trust are different documents with different purposes. Both wills and revocable trusts can be altered and updated throughout your life to adapt to changes in your needs. Many comprehensive estate plans include both a will and a trust, and these documents can reinforce the provisions of the others.
A will lists your wishes for your estate after your death, including which heirs receive what assets. A will is a matter of public record and does not keep your assets from probate court. All the assets in a will still go through the expensive and lengthy probate process. Unlike a will, a living trust is a private document and a separate legal entity.
A trust and complete estate plan are useful for anyone hoping to protect their assets and save their loved ones stress, time, and money. At the Law Office of Douglas A. Oberdorfer, P.A., we want to help you create a trust that meets your needs and ensures that your assets are in the control of someone you trust. You can contact us online today or call us at 904-299-6913 to begin your own estate plan to uniquely address your situation. We serve clients throughout the Jacksonville, Florida, metro area.
Fields marked with an “*” are required
"*" indicates required fields