Probate And Estate Planning In Miami Beach
This is the time of year when I reflect upon what is working and not working in both my personal and professional life. As a Miami Beach Probate and Estate Planning attorney, I notice a few areas where there is room for clarity and learning.
Is Estate Planning Only For The Super Wealthy?
There are many misunderstandings about estate planning in Miami, Florida. A person does not need multiple properties and assets to do estate planning. A person with loved ones and assets can benefit from estate planning, regardless of their level of wealth.
Where Does Estate Planning Begin?
Estate planning begins with five documents. Two are for health care and three are financial documents. The Health Care Surrogate appoints the person whom makes decisions for you if you are not capable. The Health Care Directive states your preferences regarding those decisions the health care surrogate may have to make. The Pour Over Will discusses your burial or cremation preferences, mentions a list of personal items, and pours any remaining assets not owned by the trust into the trust through the probate process. The Revocable Trust plans out who gets what and how ; if done properly, items are placed and owned by the trust now while you are the trustee. Finally, A Limited Power of Attorney is used during incapacity or disappearance to move assets into trust.
Can Probate Be Avoided With Estate Planning?
If estate planning is done properly, probate can be avoided. Estate planning also can protect a person regarding incapacity, disappearance, and health related matters. For example, if a revocable trust is completed properly and assets (real estate, bank accounts, investment accounts, second homes) are transferred into the trust and the trust is now the owner, probate may be avoided.
What Is Probate? How Long Does Probate Take?
Probate in Miami is a timely, public, and costly court process that can be avoided with proper estate planning. For example, I am completing a probate case where a mother suddenly passed away years ago and a minor teenage daughter was left with real estate and assets and a probate court case, while mourning the loss of her mother’s sudden death. If proper estate planning was done before her death, the probate case could have been avoided; saving her both time and money.
Why Do I Need An Estate Planning Attorney?
An Estate Planning attorney is needed to assess each individual situation and determine the best plan of action. At Ally Glaser, P.A, we are skilled in dealing with couples living together, couples living separately, married people with separate assets, married people with joint assets, individuals with assets here and in different states and countries, and parents who want to protect young children and thus, may spread out their inheritance throughout many years.
What Makes Ally Glaser Pa Different?
At Ally Glaser, PA, in Miami Beach, Florida, we do holistic estate planning and also handle probate and trust administration matters with care and concern for the loved ones left behind. We are happy to help you during these difficult times and have many years of experience dealing with these sensitive issues.