You can get legal help handling estate planning in Gainesville. Legal advice is only a phone call away with the team at Bogin, Munns & Munns. Contact us when you want to take steps to protect your legacy and secure your assets.
Reaching out to a Gainesville estate planning lawyer is easy. Just call (352) 332-7688 to speak with a member of our legal team. Review your options for setting up a trust, drawing up a will, or assigning a power of attorney to protect your assets and your loved ones.
Use Estate Planning To Handle Your Assets in Gainesville
Many individuals in Gainesville, FL, do not want to consider estate planning. Thinking about end-of-life issues can be stressful for many people. However, taking steps to complete the estate planning process can ensure protection for your hard work and legacy in the future.
Estate planning in Gainesville gives you the opportunity to control how to handle your assets after your death. In order to ensure your wishes are followed, a Gainesville estate planning lawyer may advise you to create a:
Your will can provide direction on the distribution of your assets. However, you should be aware that the probate court in Florida handles the dispensation of a will. Your beneficiaries may have to wait a significant amount of time before getting the compensation that they need. Additionally, a percentage of your assets may pay court fees or debts on your estate.
Your estate planning lawyer in Gainesville may advise you to create a trust to protect your assets, per Florida Statutes Chapter 736. A trust can minimize the taxes on your estate. It may also be arranged to distribute your assets without the intervention of the probate court system. It allows you to have a greater level of control over your wealth. There are many different types of trusts that may be right for you, including:
- Irrevocable life insurance trusts (ILIT)
- Marital trusts
- Bypass trusts
- Generation-skipping trusts
- Revocable living trust
You can discuss all your options for setting up a trust with an estate planning lawyer. Speak to a legal team member about your unique situation right now by calling (352) 332-7688.
Focus on Health Care Decisions with Gainesville Estate Planning
Many people think about the economic uses of estate planning in Gainesville. However, estate planning can also allow you to make arrangements for the medical care you would like to receive. You can set up an advanced health care directive, under Florida Statute Chapter 765.
An advanced medical directive provides family members and medical professionals with information about your wishes for medical treatment. You can even use medical directives to permit someone else to make choices about your medical care if you are incapacitated, per Florida Statute §744.3115.
Note that if you do not have an advanced medical directive, medical professionals are legally expected to do everything in their power to extend your life. If you do not want these steps taken, or if you only want specific medical treatment, it is important that you complete an advanced medical directive. In Florida, examples of advanced health care directives may include:
- A Living Will. A living will can provide information about your wishes with regard to medical care.
- A Durable Power of Attorney. You may also set up a durable power of attorney to permit someone else to make medical decisions for you, as defined under Florida Statutes Chapter 709. Note that you can also use a durable power of attorney to give someone else decision-making power over your finances.
Take steps to make sure your wishes are followed in relation to your health by working with a Gainesville estate planning lawyer. Your future is in your hands. Find out more about methods to legally handle your medical decisions by speaking with Bogin, Munns & Munns.
Estate Planning and Business Succession Planning in Gainesville
Estate planning may be especially important if you own a family business in Gainesville. Your loss can greatly impact any closely held business. You can limit the disruption to your business by focusing on estate planning.
An estate planning lawyer may help you record your intentions for your business. These intentions can serve as guidelines for family members or employees to follow if you are incapacitated. You have likely put a lot of hard work into your business. Give your company the support it needs to continue to thrive by focusing on estate planning in Gainesville.
Keep Your Estate Plan Up-to-Date in Gainesville
You may begin the estate planning process at any point in your life. Making sure your wishes will be followed if you are incapacitated can be very important, regardless of your age. However, this does not mean that your plan will never need adjustment.
In fact, you may need to contact your estate planning lawyer again if you go through certain changes. Make sure that you adjust your estate plan if:
- You get married or divorced
- A child or beneficiary gets divorced
- Your spouse or a child passes away
- You sell or purchase a piece of property
These events may require changes to your will or your trust. Keeping on top of changes to your estate plan can make the process for distributing your assets much easier for your beneficiaries. Major changes that were not addressed in your estate plan can push your estate into the hands of the probate court system.
As we mentioned, your estate may also end up in probate court if you only leave behind a will. The court system should take steps to carry out your wishes. However, the court can levy fees on your estate, preventing your beneficiaries from getting the funds you intended to give them. Find out more about your options to protect your legacy with the team at Bogin, Munns & Munns.
Speak to a Gainesville Estate Planning Lawyer
You can get help with all aspects of estate planning by working with a lawyer in Gainesville. You can reach out to the team at Bogin, Munns & Munns today by calling (352) 332-7688. Speak to us about concerns regarding your finances with a consultation. Start focusing on your future with a Gainesville estate planning lawyer.