Yulee Estate Planning Lawyer

Yulee Estate Planning Attorney

A Yulee estate planning lawyer can be a great resource to have on your side if you need estate planning services. Having a proper estate plan in place is crucial to make sure that the assets you’ve accumulated in your lifetime are passed down the way you want.

What Is an Estate Plan?

An estate plan can be thought of as legal documentation that outlines what should happen in the event of one’s death or incapacity to manage one’s assets. Some commonly known estate planning documents are wills, trusts, and testaments. These items determine what will happen to your money, real estate, and any other personal assets after your death. Other estate planning documents can include deeds, guardianship designations, and powers of attorney.

Each of these documents work together to help your family proceed with the transfer of property after your death. Estate plans are used to avoid probate and make the transfer of assets between family members as easy as possible. In an ideal scenario, the estate plan can be executed without the need for complex legal services or to appear before a judge.

Understanding Probate

Probate is the process of transferring assets, but it is supervised by the courts. Probate happens when there is no estate plan in place. Assets typically include bank accounts, real estate, and personal property and will be passed down according to next of kin, called intestate succession.

What Makes a Will Valid

A will is valid in Florida if it is written, states what your wishes are, and is signed by yourself and witnesses. It is not necessary to have particular words included, but some key elements to include are your signature, a witness’s signature, and an accurate depiction of how you wish your assets to be distributed after your death.

It is important that your will names a personal representative to manage the affairs after your death, even if no assets are passing through probate. For example, if you are killed in a car accident due to someone else’s negligence, a personal representative is the one who has the right to pursue legal action on your behalf. A will can also include instructions related to your funeral and burial services. It can comfort your family to know that your wishes will be carried out.

It is not necessary to notarize a will in Florida, but it does eliminate the potential for an individual who was a witness to have to confirm that it is legitimate in court.

FAQs

Q: What Is the Average Cost for Estate Planning in Florida?

A: The average cost for estate planning in Yulee, Florida can vary depending on the specific types of planning needed. For example, basic estate planning needs like testaments and wills can be less expensive than more complicated structures. Some estates can have a substantial amount of assets with complex tax situations, increasing the overall cost.

Each case is unique and requires an individualized approach. Experienced estate planning lawyers can look at your situation and provide an estimate of the total costs you can expect.

Q: What Is the Average Cost for a Probate Attorney in Florida?

A: The cost for a probate attorney in Florida must be reasonable according to Chapter 733 of the Florida Statutes. The costs will include a fee and a percentage of the value of the estate. Fees could rise for what is considered extraordinary services. These could include litigation, taxes, real estate matters, the experience level of the attorney, and other things.

When it comes to legal representation, you generally get what you pay for. Paying for a qualified and experienced attorney is a worthwhile investment.

Q: Do You Need an Attorney to Settle an Estate in Florida?

A: Yes, you will typically need an attorney to settle an estate in Florida. An attorney can help with the legal documentation and formal administration of the probate process. In cases where you are dealing with a very small estate or an estate where the executor is the sole beneficiary, you may not need an attorney.

Even in these cases, it can be beneficial to consult with an attorney for legal advice. It is important that all the details are taken care of correctly, as mistakes can have significant consequences.

Q: Who Needs a Trust Instead of a Will in Florida?

A: A trust may be needed instead of a will in Florida if you have a larger estate, privacy concerns, or complex financial needs. Wills are usually used for simpler or smaller estates. Ultimately, it will depend on your individual circumstances and needs. It is possible for a will and a trust to be used together in an estate plan.

Another option is to use a pour-over will that moves estate assets into a trust. Speaking with an experienced estate planning attorney can help you explore your options.

Q: What If I Don’t Have a Will in Florida?

A: If you die without a will in Florida and you are not married, your assets could be passed down to your descendants under the Florida Intestacy Statutes. If you are married, then your spouse will be first in line to receive your probate assets. If you are not married and there are no descendants, then your parents could inherit your assets. Dying without a will in place does not necessarily mean the state will take your assets. Florida is not in the business of taking assets from their residents.

Legal Support You Need

Estate planning can be a complex process with several moving parts. It can be difficult to navigate without the help of an attorney. There can be strict legal procedures and deadlines that must be met under Florida law. Having an experienced attorney on your side can give you peace of mind in knowing that you are getting the quality legal representation you need.

At the Law Office of Douglas A. Oberdorfer, P.A., our legal team is ready and able to provide the needed legal assistance with your case. We can review your situation, explore all applicable legal avenues, and come up with an appropriate solution for you. Since 2003, our law firm has helped countless Florida residents with their estate planning needs. Contact us today to speak with a member of our team.