Orlando Wills & Trusts Attorney
Estate Planning Lawyers with Decades of Experience
Jackson Law PA, we have 75 years of combined experience in the fields of
estate planning and
probate law. When you come to us for help, our Orlando estate planning lawyers will
be ready to conduct a comprehensive review of your personal situation,
both in terms of your finances and your family relationships, to determine
what course of action is most suitable for your estate planning. Based
on your decision, we can proceed with the implementation of an estate
planning strategy that can give you the peace of mind that comes with
knowing that you have provided for your loved ones and shielded them against
the possibility of a stressful and drawn-out legal process in the wake
of your passing.
Contact Jackson Law PA or call 407.477.5046 for a case evaluation with practiced wills &
trust lawyers in Orlando.
Difference Between Will and Trust
Depending on your unique circumstances, your interests may best be served
by either a will or a trust. No two cases are identical, and it is impossible
to recommend one or the other without first thoroughly evaluating your
situation. Certain general rules, however, do apply. The difference between
a will and trust is that typically, a person with a relatively simple
estate, with few heirs and with a relatively small amount of assets, may
find that a last will and testament is adequate to meet his or her needs.
A trust, on the other hand, tends to be more appropriate for wealthier
individuals, those with minor or disabled beneficiaries, or those who
have many family members who may have a claim against the estate.
Advantages of Revocable Trust
Trusts have many advantages that distinguish them from wills, a major one
being that they make it possible to
avoid probate. Because the assets that you use to fund the trust are no longer part
of your estate, they will not be subject to probate proceedings at the
time of your passing. Instead, they will pass directly to the beneficiaries
of the trust according to your specifications and the schedule that you
set. Similarly, a trust is an effective way of avoiding or minimizing
estate taxes. Should you choose a revocable trust, as opposed to an irrevocable
trust, you will retain the option to modify the terms of the trust, such
as by withdrawing assets, changing or adding beneficiaries, naming a new
trustee or even dissolving the trust.
Why Is a Will Important?
One of the primary advantages of drafting a will instead of establishing
a trust has to do with the costs. Wills are typically far less complex
than trusts and therefore require less work to draft the documents and
take the necessary steps to create. If you are of relatively modest means
and are not concerned about the possibility of incurring the estate tax,
you may not need a trust. The same is true if it is not a priority for
you to preserve the privacy of your estate, in light of the fact that
probate is a matter of public record. When we meet for your initial consultation,
we will take the time to answer your questions and help you make an informed
decision whether to choose a will or a trust.
Orlando Pet Trusts
You care deeply about your pets and want to make sure that they are in
good hands and are well provided for when you pass away or become incapacitated.
How can you be certain that a friend or family member will be willing
to accept the responsibility when the time comes? Even if someone is willing
to do so, will they have the resources necessary to care for your pets,
and will they know how to provide the same standard of care to which the
animals have become accustomed? Fortunately, Florida law has for a decade
now recognized the right of a pet owner to establish a pet trust, which
is fundamentally the same as any other type of trust.
In a pet trust, you can name the person who will take your pets in when
you can no longer care for them, as well as specifying the nature of their
care, their routines and the name of their veterinarian. You can additionally
leave money to provide for your pets' needs in terms of food, shelter
and other supplies, as well as designating a party who will receive any
funds that are left over when the pets pass away.
Reach Out to Estate Planning Lawyers in Orlando Today
At Jackson Law PA, we can assist you with finding answers to questions
such as how much money you need to leave, as well as drafting the necessary
documents and taking steps to ensure that the pet trust will operate as
required when the time comes. Contact us now to get started.
Our Orlando will & trust lawyers are ready to help you during a
case evaluation. Call today 407.477.5046