Estate Attorney in Orlando
When the phrase “estate planning” is mentioned the first thought you have is probably taxes. However, estate planning is about more than just reducing taxes. Its main focus is to guarantee your assets are distributed according to your wishes. Because of that, even after the estate tax reduction and its eventual repeal in 2010 under the 2001 tax act, estate planning is still fundamental in your wealth building and protection. Because of this atmosphere, estate taxes are still a threat with respect to wealth passed to your family. It must be noted that the “sunset” provision states that in the year 2011 estate tax shall return to where it rested before the 2001 tax act. This will not change unless Congress enacts new laws. Having a good Estate Attorney in Orlando is vital to maintaining control over your asset division.
Is Estate Planning Difficult?
Depending on your needs, estate planning can either be complicated or painless. If you’re worried about whether or not your out-of-state will is enforceable in Orlando or want your beneficiaries to avoid the probate process, having a proper estate plan can protect your assets. Regardless of your age or financial status, the knowledge that your entire family’s future will be protected is comforting.
Will Or Living Trust?
There are two different ways to transfer your assets upon your death: the will and the standard trust, which by the way is growing in popularity. Understand that if you die without having a will or living trust in place, Florida state law has control of the disposition of your property and assets. This makes the process of settling your estate more difficult – and as a result- more costly.
The biggest difference between choosing a will or a living trust is that assets placed into a living trust avoids probate at the time of your death. Neither the will nor the living trust document in and of themselves can reduce estate taxes – but both can be worded or designed to do this. Knowing if a will or a living trust is better for you depends on your circumstances. Attorney Wade Boyette, an Estate Attorney in Orlando can explain the differences and help you set up which avenue is better for you and your family. Contact his offices today at 855-529-2020 for your evaluation.
Who should draw up your Orlando will or living trust?
Contact one of BCN law firm’s attorneys! Seek legal advice before drafting your estate plan.
According ot Wade Boyette, “I have protected peoples’ assets and estates for over 16 years, and staying up-to-date with new laws always helps me serve my clients to the best of my ability”.
“Know Your Attorney. Know Your Options.”