Lake Wales Wills & Trusts Lawyers
Caring, Honest & Trusted Estate Planners in Central Florida
Wills and trusts are two of the most important legal documents you can draft for your estate. Without a valid will, a person who passes away is considered to have died “intestate.” This means that the deceased person’s assets will be distributed by the state through a probate court. The decedent’s wishes regarding his or her property will not be known to the court. Probate courts operate on the Florida Probate Code.
Probate is a time-consuming and expensive process. To avoid this, you can ensure that your property is handled per your instructions through a properly executed will and/or trust. At Weaver Loveless Law, we have been creating wills and trusts for our clients for more than 40 years. Our firm has built a solid reputation in the community for its stability, honesty, and care in all estate planning matters.
Your last will and testament is the backbone of your estate plan. Without it, your loved ones and the state will lack guidance as to how you want your property distributed upon your death or incapacitation.
- Allows your property to be transferred to beneficiaries
- Allows you to choose your beneficiaries
- Allows you to provide the details of what assets each beneficiary is to receive
- Allows you to select a guardian for minor children or other dependents
- Allows you to name the executor(s) of your estate who will then administer its instructions
- Reduces the costs associated with probate
- Streamlines the distribution of your assets
Trusts can either be revocable (changeable) or irrevocable (unchangeable). Revocable trusts are the most common in estate planning wherein the trust maker transfers his or her property into the trust as a separate entity while he or she is still living. He or she then acts as the trustee and can make any changes necessary while alive. Once the trust maker passes away, the trust is then administered by his or her executors.
Some common types of trusts include:
- Living trusts
- Charitable trusts
- Asset protection trusts
- Special needs trusts
To understand the mechanics of a trust and which type of trust will serve your needs best, you can turn to Weaver Loveless Law Our experienced wills and trust attorneys in Lake Wales can evaluate your situation, walk you through the process, and help take advantage of important estate planning tools.
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