Do you need to create your will?
A lot of us would answer "No" to that question - and most of us would be wrong. If you have real property and people dependent on you and you want your property to pass down in some way other than the requirements for intestate property in your state (in Florida, for example, your spouse and children are prioritized, but nothing goes to stepchildren you did not legally adopt), you need a will. If you have enough money to hit the estate tax threshold, then you need specific advice to reduce the tax burden on your heirs.
A Broward-Palm Beach-Dade TriCounty FL estate planning lawyer will let you know whether or not a will is necessary, and if you work with a professional who also has experience in the financial sector, you can get help in understanding trusts, tax benefits and the ability to pass on some forms of property even while you're still living.
Your will needs to address your goals for your family, and take into account sentimental issues. If you do not make one, then the state will make one for you. For some of us, that is good enough. For many of us, it is not. If you intend to make a posthumous charitable donation, or give a valuable piece of property to a friend or sibling because you know your children have no interest in it, then you need to make a will. You need to do so with awareness of the legal and tax implications of your choices.
Due to this fact, you're going to need an attorney who is able to assist with estate planning. This is very important for wealthy people, but even those who fall in the middle class will need to have wills.
Thus, if you are preparing to pass on your legacy, you should contact an estate planning attorney right now. Choosing the right lawyer is absolute critical so always look beyond advertising.
A lot of us would answer "No" to that question - and most of us would be wrong. If you have real property and people dependent on you and you want your property to pass down in some way other than the requirements for intestate property in your state (in Florida, for example, your spouse and children are prioritized, but nothing goes to stepchildren you did not legally adopt), you need a will. If you have enough money to hit the estate tax threshold, then you need specific advice to reduce the tax burden on your heirs.
A Broward-Palm Beach-Dade TriCounty FL estate planning lawyer will let you know whether or not a will is necessary, and if you work with a professional who also has experience in the financial sector, you can get help in understanding trusts, tax benefits and the ability to pass on some forms of property even while you're still living.
Your will needs to address your goals for your family, and take into account sentimental issues. If you do not make one, then the state will make one for you. For some of us, that is good enough. For many of us, it is not. If you intend to make a posthumous charitable donation, or give a valuable piece of property to a friend or sibling because you know your children have no interest in it, then you need to make a will. You need to do so with awareness of the legal and tax implications of your choices.
Due to this fact, you're going to need an attorney who is able to assist with estate planning. This is very important for wealthy people, but even those who fall in the middle class will need to have wills.
Thus, if you are preparing to pass on your legacy, you should contact an estate planning attorney right now. Choosing the right lawyer is absolute critical so always look beyond advertising.
About the Author:
Find a review of the advantages you get when you consult a Tri-County area FL estate planning lawyer and more information about a reputable attorney at http://www.trustwallach.com/ now.
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