If you happen to have a very large family, you're going to have a very complicated will as well. This is definitely the case when your asset value exceeds the threshold for taxes within the state you live. Even though there is not currently an estate tax in the state of Florida estates that are over $5,490,000 in 2017 require federal estate tax returns to be filed (remember that this number could be higher in the future).
There are times when a Broward-Palm Beach-Dade TriCounty FL estate planning lawyer with sufficient knowledge of estate taxes can assist you in lowering your estate value below this threshold through the use of trusts and gifts. This can b very important to your loved ones and will allow you to pass more wealth down.
Even if you do not hit the threshold, you need to make a will if you have property you don't want to pass on to your spouse or children - if you do not, the state will make the choice for you according to some strict rules.
Thus, if you sister wants the grand piano, a will will ensure that she gets this. This is also true if you have step-kids that you haven't adopted legally but still want to provide for.
A good estate planning lawyer will help you draft a will that meets your goals and keeps the transfer of property smooth, with no arguments. For high value estates, you also need a lawyer who can handle probate, estate administration, and filing those pesky tax returns for you.
When people have lots of family members or considerable amounts of money, having a will is essential. As such, you absolutely need to get in touch with an estate planning lawyer to get trained advice on how to take care of things the right way. Selecting an attorney is always a major decision and thus, advertising should never be the only thing you consider.
There are times when a Broward-Palm Beach-Dade TriCounty FL estate planning lawyer with sufficient knowledge of estate taxes can assist you in lowering your estate value below this threshold through the use of trusts and gifts. This can b very important to your loved ones and will allow you to pass more wealth down.
Even if you do not hit the threshold, you need to make a will if you have property you don't want to pass on to your spouse or children - if you do not, the state will make the choice for you according to some strict rules.
Thus, if you sister wants the grand piano, a will will ensure that she gets this. This is also true if you have step-kids that you haven't adopted legally but still want to provide for.
A good estate planning lawyer will help you draft a will that meets your goals and keeps the transfer of property smooth, with no arguments. For high value estates, you also need a lawyer who can handle probate, estate administration, and filing those pesky tax returns for you.
When people have lots of family members or considerable amounts of money, having a will is essential. As such, you absolutely need to get in touch with an estate planning lawyer to get trained advice on how to take care of things the right way. Selecting an attorney is always a major decision and thus, advertising should never be the only thing you consider.
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