Too many people wait to establish wills and trusts because they simply don’t want to think about it. But it is so important to put your wishes in a legal document so that they can be carried out and not challenged. Frankly, if your wills and trusts are not set up correctly, you might as well not have done them.
Often, people think that if they don’t yet have children, they don’t need a will. Everyone should have a will. You may have assets you don’t realize. If you die without a will, a court will decide how to distribute those assets.
One quite common situation occurs when one spouse dies, followed shortly by the death of the surviving spouse. Florida law says the first spouse’s assets go to the surviving spouse. But, when that second spouse dies, all of the assets go to the second spouse’s family. The first spouse’s family gets nothing.
A simple will can make sure your assets go to whomever you wish.
Trusts are also a vital planning tool. In many cases, trusts can save an estate a good deal of money on taxes. We can advise you on whether your estate and your goals warrant establishing a trust. Then we can draft a trust that will achieve those goals. We handle revocable and irrevocable trusts and living trusts. We also will administer trusts on clients’ behalf.