Estate Planning is the planning and arranging of how a person’s estate will be disposed of during life and after death. Planning, in general, is the process of finding the best means to achieve the testator’s goals. It involves formulating goals, gathering facts, analysis, considering alternatives, and the drafting of a plan that minimizes risk and realizes its goals in the most efficient manner.
The most common goal of estate planning is to ensure that after you die, your loved ones are taken care of. Other goals include charity, asset protection, minimizing taxes, avoiding probate, and organizing one’s affairs in a manner that will be most beneficial to you and your intended beneficiaries. Another common goal of estate planning is the avoidance of familial disputes and the costs, uncertainties, and difficulties that might be imposed by the probate process.
Estate planning sometimes involves complex estates, circumstances, and relationships. Or it can be relatively simple, involving only the creation and execution of a last will and testament, trust, or other safeguards, such as a living will or advanced medical directives.
Estate Plans often include Wills, Living Wills, Trusts, Investments, Insurance Policies, Retirement Benefits, Powers of Attorney, Medical Directives, Healthcare Proxies, and Guardianship designations.
Property that is transferred after your death, if not transferred through a will substitute, is subject to the probate process. The probate court will determine if your will, if any, is valid. The court may hear evidence from interested parties. And, after making their determinations, the probate court will distribute the remainder of your assets to your heirs or beneficiaries.
Estate planning is impacted by state and federal law, which in recent years has undergone significant changes, especially in the area of tax law. A well-written and up-to-date estate plan is necessary to ensure that your goals are realized.
If you require legal assistance with an Estate Planning matter, have questions, or want to schedule a consultation, you can contact the Bress Law Firm at (954) 336-8049, or by email at michael@bressLaw.com. Initial consultations are free and confidential. We are located in Aventura, Florida, but serve clients throughout Miami-Dade County. All appointments are by appointment only.
The information you obtain at this site is not, nor is intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. You are welcome to contact us about a legal matter via. Phone, Letter, or Electronic Mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information until such time as an attorney-client relationship has been established. Our firm, however, treats all client information as strictly confidential.