You may be wondering when it’s time to begin the estate planning process, but you probably have questions about what is involved. Estate planning is one of the most important responsibilities you will undertake during your lifetime, and it has long-lasting benefits for your family. When you’re ready to begin the process of organizing the important documents to secure your legacy, a Kissimmee estate planning lawyer can help streamline the process.
At Pathway Law, P.A., we have decades of experience with Florida estate planning law, and we want you to feel comfortable asking any questions you might have. Our client-first approach is warm and informal. We are flexible, dependable, and trustworthy, and devoted to excellence in all our areas of service. We are honored to represent residents of Kissimmee and the surrounding area and balance a background in business with legal acumen.
When you book your initial consultation with our firm, we will sit down with you for a conversation about your goals for the future. We serve our clients in a variety of ways, including:
Many Americans falsely believe that they only need an estate plan if they are wealthy, but estate planning is for everyone, at all income levels. Only about 46% of the US population has a will, leaving countless families vulnerable to probate and the stress and cost it entails.
Estate planning can benefit your family by addressing potential legal complications and arranging your finances and property ownership in such a way that your family can bypass probate and focus on what matters most–their memories of you.
In Florida, the rules governing estate law and probate are found in chapters 731-735 of the Florida Statutes. These laws establish the process for probate, which is the legal process by which a deceased person’s estate is divided, their debts are settled, and the remainder goes to their heirs or beneficiaries.
If no will or trust exists, meaning the decedent died intestate, Florida’s rules of succession go into effect once a probate case is initiated. Probate is a public matter, which means details of your estate are available to the public, and anyone may bring a claim forward, including aggressive creditors. Many people die with outstanding debts, and these debts must be reconciled before your heirs will receive any of your assets.
Estate planning can help to prevent or mitigate the probate process, helping to protect your estate from litigious third-party actions after your death, and securing a smooth transfer of assets to those you designate in your will and/or trust.
There are several options for your estate plan, from simple wills and revocable trusts to other important documents, such as advance directives, which designate who is allowed to make critical medical decisions on your behalf if you are incapacitated. Special needs trusts, education trusts, and other crucial elements may be necessary for your situation.
When you hire an estate planning lawyer in Kissimmee, we can explain all the options available to you and help you craft a flexible, adaptable estate plan that you can revise and amend as necessary. At Pathway Law, P.A., we know how daunting estate planning can feel, and we’re here to simplify and ease the process, giving you confidence and peace of mind.
Secure Your Legacy With Thoughtful Estate and Business Planning
Simply put, estate administration happens after death, and estate planning happens while you are alive. An estate administration lawyer handles your affairs after your death, including probate filings and the dispensation of your estate, guiding your loved ones through the process of finalizing your legal matters. An estate planning lawyer is proactive, helping you plan while you are still alive.
At Pathway Law, P.A., we offer estate administration services and estate planning services. If a loved one dies, you can call on us to administer their estate, and we will be there for your family when it is time to complete the process you outlined in your estate plan. Estate planning is one of the most loving, considerate gifts you can give your family.
The cost of estate planning in Florida varies according to the complexity of your estate plan, the value of your estate, and the time required for ongoing maintenance and administration of your documents and services. During your initial consultation, we’ll discuss your estimated costs and help you create an estate plan that meets your budget.
Some common mistakes people make when embarking on their estate planning process can include not allowing for changes in lifestyle and income that necessitate the revision of wills and trusts, not understanding their legal documents and how they function, and not seeking legal guidance when creating their estate plans.
The 3-Year rule was established by the US government to prevent the deathbed transfer of assets without taxation. The rule states that any financial gift made within three years of the decedent’s death, exceeding the threshold outlined in the statute, is included in the gross value of the estate, and subject to taxation.
In Florida, you are allowed to draft a will as soon as you reach the age of 18. Most adults wait until they’ve married or have children to begin the estate planning process, as having a will becomes crucial if you are a parent. Over 60% of millennials do not have a will or trust, potentially impacting their family’s financial well-being and the guardianship of their children.
For families in the Kissimmee/St. Cloud area, Pathway Law, P.A., offers comprehensive, strategic estate planning that puts your needs first. Let us be your first choice when it comes to your estate plan. Contact us to schedule your free initial phone consultation today.
It is not always easy to find the right attorney to handle your legal needs. That is why Pathway Law, P.A. offers the opportunity to speak with us for free about your legal needs.
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