DO WE NEED TRUSTS IF EVERYTHING WE HAVE IS IN JOINT NAME?
I received a call from a couple who have been married for over sixty years and own all of their assets in joint name. If a couple owns everything in joint name, the assets can remain in joint name until the first person dies. After the first person dies, all assets must be moved into a trust to prevent probate. Probate in Miami, FL is expensive and takes six months to a year for your loved ones to collect assets that are rightly theirs.
SHOULD WE WAIT TO CONTACT A MIAMI BEACH, FL ESTATE PLANNING ATTORNEY?
No, a Miami Beach, FL estate planning attorney should be contacted while the couple is together, alive, and well. This way is best so the couple can discuss exactly what they want and take the necessary time to think about their wishes. If done while the couple is together, there is less to worry about after the death of the first spouse, leaving them the proper time to mourn.
WHAT DOES AN ESTATE PLAN INCLUDE?
Most basic estate plans include at least five documents. The five documents are a will, revocable trust, health care surrogate, health care directive and a limited or general power of attorney. Additional documents may include deeds or stock certificates transferring assets into the trust.
DOES A REVOCABLE TRUST REQUIRE ME TO FILE IT OR PAY SEPARATE TAXES?
No, a revocable trust uses your social security number and thus, there are no additional filings nor taxes. A revocable trust and other documents are held by the client for future use. These documents are not recorded nor filed with the court.
WHAT ARE THE QUALITIES IN MY FAVORITE CLIENTS?
My favorite clients are excited to get these documents done. They value my expertise and are willing to contribute to the process by answering all my questions, thinking through tough decisions, and clearly sharing their intentions with me. Thus, I am able to create the best documents for their specific situation.
WHY SHOULD YOU USE ALLY M. GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH AND MIAMI-DADE AND BROWARD PROBATE MATTERS?As a Miami Beach Estate Planning, Wills and Trusts and Probate Attorney in Miami Beach with over twenty-five years of experience and both a Psychology and Law degree, I handle these matters with knowledge and sensitivity. I am familiar and comfortable with both the Broward County and Miami-Dade probate court system and know how to get things done. Additionally, because I do both estate planning and probate law, I am familiar with the challenges of each and provide my clients with additional protections. Call or email me today to discuss your Miami Beach Estate Planning, Wills and Trusts and Miami-Dade County Probate matters. I am happy to help you and your loved ones during this important process