Estate Planning

Every estate plan should start with a will. Wills are not just for the elderly and people with well-endowed estates. There are benefits to having a will for people of any age and income level. Having a will is the best way to express your wishes regarding what will happen after your death.
The layers at David F. Anderson, P.A. can help you decided if a simple will will suffice to transfer your assists, or if your assets should be held in a trust and have a pour-over will as a backup. A simple will is better for a smaller estate, while a trust and pour-over will is best for a larger estate, especially if real estate is involved. A pour-over will direct assets outside of your trust to pour into the trust and be allocated with the trust's decisions.

We will make sure that you understand the legal consequences of you decisions, and that you understand how your will can benefit your family after your passing.

Not only will we be there for you to initially draft and revise your will, we will also represent you and your family during probate. Probate is the formal procedure of administering an estate according to a will. We want to make sure that your will is carried out exactly in the way that you request with as little disputation as possible.

There is also the matter of a living will. A will states your requests concerning the distribution of your assets and the care of your children following your passing. A living will, also known as a health care directive, offers direction regarding your medical care if you become incapacitated. Both are important in expressing your wishes for your estate, and David F. Anderson, P.A. can help you to draft both documents.

If you want to manage your assets for your descendants, or other designated beneficiaries, it is a good idea to set up a trust. There are many benefits of a trust, including:

If you want to manage your assets for your descendants, or other designated beneficiaries, it is a good idea to set up a trust. There are many benefits of a trust, including:

• Protect and preserve assets for your beneficiaries in a secure way
• Avoid estate taxes and keep your monetary funds and other assets
• The ability to set aside funds for a disabled child while keeping government benefits
• Avoid probate court and the cost, time, and hassle that comes with it

There are several different types of trusts. The Florida attorneys at David F. Anderson, P.A. can help you to pick the trust that will help you to accomplish you goals. Several examples of trusts include:

• Revocable living trust: A trust that can be changed during the life of the grantor. The assets are subject to estate tax
• Irrevocable trust: A trust that cannot be modified once drafted. The assets are generally not subject to estate tax
• Third-party special needs trust: A trust that protects the benefit eligibility of disabled children while still providing them with funds
• OBRA special needs trust: This trust allows clients with substantial assets to qualify for Medicaid by setting aside funds
• Credit shelter trust (AB trust): The trust gives assets protection from estate tax upon the death of the grantor

Beneficiaries, assets, and life circumstances all factor into the trust you set up. The law team at David F. Anderson, P.A. can effectively establish a trust that will meet your financial needs.

We do more than help in the development of the estate plan. If a probate is required after the death of a client, our firm can assist executors and administrators in the process. Probate is a judicial proceeding. It is required to transfer title to the deceased's beneficiaries in a will.

The terms of the will names the executor, or an administrator can also step forward to administer the estate of a family member without a will. Our lawyers can help you to become appointed by the probate court. We can also be of aid in any successive probate court matters and procedures until the closing of the estate.