You can get legal help handling estate planning in Gainesville. Legal advice is only a phone call away with the team at Bogin, Munns & Munns. Contact us when you want to take steps to protect your legacy and secure your assets.
Reaching out to a Gainesville estate planning lawyer is easy. Just call to speak with a member of our legal team. Review your options for setting up a trust, drawing up a will, or assigning a power of attorney to protect your assets and your loved ones.
Who Should Create an Estate Plan?
Many people don’t want to confront planning for their passing. Doing so, however, can help both you and your family in the future. Many people also mistakenly believe that estate planning is only for wealthy people, which isn’t true.
Estate planning is more than deciding who gets what after your passing. It also outlines:
- Who will take care of your minor or disabled children
- Your end-of-life wishes, including your funeral plans
- Who will inherit your business or real estate property
Estate planning also includes your preferences about organ donation after your passing. Having a plan in place after you can no longer make decisions can prove invaluable to your peace of mind.
Use Estate Planning to Handle Your Assets in Gainesville
Many individuals in Gainesville, FL, do not want to consider estate planning. Thinking about end-of-life issues can be stressful for many people. However, taking steps to complete the estate planning process can ensure protection for your hard work and legacy in the future.
Estate planning in Gainesville gives you the opportunity to control how to handle your assets after your death. In order to ensure your wishes are followed, a Gainesville estate planning lawyer may advise you to create a:
Will
Your will can provide direction on the distribution of your assets. However, you should be aware that probate court in Florida handles the dispensation of a will.
Your beneficiaries may have to wait a significant amount of time before getting the compensation that they need. Additionally, a percentage of your assets may pay court fees or debts on your estate.
Trust
Your estate planning lawyer in Gainesville may advise you to create a trust to protect your assets, per Florida Statutes Chapter 736. A trust can minimize the taxes on your estate. It may also be arranged to distribute your assets without the intervention of the probate court system. It allows you to have a greater level of control over your wealth.
There are many different types of trusts that may be right for you, including:
- Irrevocable life insurance trusts (ILIT)
- Marital trusts
- Bypass trusts
- Generation-skipping trusts
- Revocable living trusts
You can discuss all your options for setting up a trust with an estate planning lawyer. Speak to a legal team member about your unique situation right now.
Focus on Health Care Decisions with Gainesville Estate Planning
Many people think about the economic uses of estate planning in Gainesville. However, estate planning can also allow you to make arrangements for the medical care you would like to receive. You can set up an advanced health care directive, under Florida Statute Chapter 765.
An advanced medical directive provides family members and medical professionals with information about your wishes for medical treatment. You can even use medical directives to permit someone else to make choices about your medical care if you are incapacitated, per Florida Statutes § 744.3115.
Note that if you do not have an advanced medical directive, medical professionals are legally expected to do everything in their power to extend your life. If you do not want these steps taken, or if you only want specific medical treatment, it is important that you complete an advanced medical directive.
In Florida, examples of advanced health care directives may include:
- A living will. A living will can provide information about your wishes with regard to medical care.
- A durable power of attorney. You may also set up a durable power of attorney to permit someone else to make medical decisions for you, as defined under Florida Statutes Chapter 709. Note that you can also use a durable power of attorney to give someone else decision-making power over your finances.
Take steps to make sure your wishes are followed in relation to your health by working with a Gainesville estate planning lawyer. Your future is in your hands. Find out more about methods to legally handle your medical decisions by speaking with Bogin, Munns & Munns.
Estate Planning and Business Succession Planning in Gainesville
Estate planning may be especially important if you own a family business in Gainesville. Your loss can greatly impact any closely held business. You can limit the disruption to your business by focusing on estate planning.
An estate planning lawyer may help you record your intentions for your business. These intentions can serve as guidelines for family members or employees to follow if you are incapacitated. You have likely put a lot of hard work into your business. Give your company the support it needs to continue to thrive by focusing on estate planning in Gainesville.
Keep Your Estate Plan Up to Date in Gainesville
You may begin the estate planning process at any point in your life. Making sure your wishes will be followed if you are incapacitated can be very important, regardless of your age.
However, this does not mean that your plan will never need adjustment.
In fact, you may need to contact your estate planning lawyer again if you go through certain changes. Make sure that you adjust your estate plan if:
- You get married or divorced.
- A child or beneficiary gets divorced.
- Your spouse or a child passes away.
- You sell or purchase a piece of property.
These events may require changes to your will or your trust. Keeping on top of changes to your estate plan can make the process of distributing your assets much easier for your beneficiaries. Major changes that were not addressed in your estate plan can push your estate into the hands of the probate court system.
As we mentioned, your estate may also end up in probate court if you only leave behind a will. The court system should take steps to carry out your wishes. However, the court can levy fees on your estate, preventing your beneficiaries from getting the funds you intended to give them. Find out more about your options to protect your legacy with the team at Bogin, Munns & Munns.
Our Law Firm Can Help You Create a Comprehensive Estate Plan
On your own, it can be hard to understand the legal parameters and jargon that make your estate plan legal, binding, and complete. Our estate planning lawyers will handle the complex details of your case while ensuring you understand each step of the process.
We will:
- Create or modify relevant documents
- Customize documents according to your wishes
- Ensure compliance with Florida laws
- Ensure your plan is stored in a secure location
- Answer questions and address your concerns
You, not the state of Florida, should make the final decisions for yourself, your health, and your possessions. When you trust your estate plan and its many documents to us, we make sure your wishes and preferences are clear, detailed, and respected.
Reviews and Recommendations from Previous Clients
When you browse our Google Reviews, you will read testimonials like these from clients our law firm has helped in the past:
- Lisa Panos: I work with Sandy Valbh (Wills, Trusts, Power of Atty). He is…extremely knowledgeable, as well as easy to talk with regarding these matters…I highly recommend Mr. Valbh as well as other attorneys at the firm…They are honest, ethical, and work for their clients.
- Greg Sloan: I have worked with Bogin, Munns & Munns, P.A. for several years. Bogin, Munns & Munns, P.A. is a full-service law firm of dedicated professionals. They are committed to excellence while serving the legal needs of their clients.
Every client we represent is a priority for our team. When we help you create your estate plan, we make sure your wishes and preferences are clear.
Speak to a Gainesville Estate Planning Lawyer
You can get help with all aspects of estate planning by working with a lawyer in Gainesville. You can reach out to the team at Bogin, Munns & Munns today. Speak to us about concerns regarding your finances with a consultation. Start focusing on your future with our help.
