At the Scaletta Law Firm, we strive to bring a comprehensive yet understandable approach to the estate planning process for each individual. Your estate plan is your legacy and can have a life-long impact on your family members and beneficiaries. We can assist with reviewing your asset mix to determine whether assets will pass to your beneficiaries outside of the probate process because of the way they are titled, or whether those assets will need to be transferred to your beneficiaries in a judicial probate proceeding. We can also help determine whether those assets are potentially subject to creditors’ claims or whether they are exempt from creditors because of the Florida statutory and constitutional exemptions. We will also evaluate the potential that the Federal government will impose an estate tax on your estate and consider ways to reduce or defer that tax.
The decisions as to whom is best suited to serve as personal representative of your last will and testament, trustee of your trust, and guardian of your minor children require careful evaluation, and we can discuss the considerations, both positive and negative, in naming family members, friends or corporate institutions to one or more of those roles. We can also assist you in determining how your assets will be distributed to your beneficiaries after your death. Some individuals may want assets distributed outright to their adult beneficiaries in one lump sum. In other circumstances, such as assets being held for minor children, young adults, or children with unique circumstances (such as unstable marriages, unhealthy spending habits, or other threats to wealth accumulation and maintenance), it may be prudent to hold those assets in trust and distribute them over time.
In addition to discussing the disposition of your property, we also ask that you consider issuing health care directives and powers of attorney to ensure your wishes are carried out in the event of your incapacity. Properly naming a health care surrogate and an agent under a durable power of attorney can greatly minimize the burden on your loved ones if you become incapacitated and are unable to make health care or financial decisions, and can avoid the expense and emotional toll of a guardianship proceeding.
Each situation is unique. Each person brings a different perspective as to how they want their affairs settled after their death. We have been assisting clients plan and implement their estates for over twenty years and our primary objective is your peace of mind knowing that you fully understand your estate plan, the legacy you leave, and how you will leave it.
If you are ready to get started, call the Scaletta Law Firm today.