New Port Richey Wills & Trusts Attorney
Florida Property Division Lawyer
A will can serve various purposes, whatever your family situation and size of your estate. If you own a home or other property, or have bank accounts or other assets, you will want to designate to whom these will pass when you are gone. If you do not have a will, your property will be distributed according to Florida law. There is no reason to let this happen. You can designate people or charities, or even leave money for the care of a pet.
Many people have had more than one marriage in a lifetime, and children from more than one spouse. It will help all parties if you clarify to whom you want specific items and funds to go.
You also designate an executor or personal representative, someone you trust, who will supervise the distribution of your estate.
There are various types of trusts that serve different purposes. A common kind is a revocable or living trust. You remove money from your estate, but still have control over it until you die. Thus removing it can reduce estate taxes, because it is not part of your estate. You also avoid probate, a slow and expensive process. Again, the trust does not need to go through probate because it already belongs to whomever you designated. It is not part of your estate.
Is a will or a trust better? We can explain both options, discuss your wants and needs and help you to determine which is best for you.
Attorney Jay W. Moreland is happy to explain these instruments to you and how they can benefit you. Mr. Moreland founded the firm in 1982 and is dedicated to helping people in a highly ethical and professional manner. Let him help you gain greater peace of mind. Call 727-847-2083 or contact us online.