For most people in Jacksonville, FL, the decision to see an estate planning lawyer is really based on two issues. The first is—at what point in time do they need to start considering estate planning? The second issue—is there a need or benefit in seeing these specialized attorneys based on the size of the estate?
To get answers to information around these two separate but related issues, a closer look at the role of an estate planning attorney can be very helpful. These are specialized lawyers that focus on wills and estate planning, as well as probate cases and other related issues. These attorneys will often work with financial planners and CPAs for large or complex estates to ensure the best interests of the client and the beneficiaries will be met.
When to Meet
In general, for very simple, modest estates where there are only a single spouse and children from the marriage and limited investments or assets, there is no need to consult with an estate planning lawyer. However, these professionals will often provide an initial consultation to review the specific issues and then provide information to the client about the need for services, if necessary.
Typically, for larger or more complex estates or when there may be children from previous marriages, family-owned businesses, investments, annuities, living trusts other types of issues, an estate planning lawyer will be essential. It is also a good idea to consult with these attorneys if there are individuals in the family that may be likely to contest the will due to the beneficiaries listed and the inheritance provided.
The attorney can make recommendations to provide the greatest tax savings for the beneficiaries of the estate before drafting the will. They can also ensure that the wishes of the client and that his or her last wishes are carried out specifically as intended.
To develop trusts, annuities and to write living wills, assign durable medical or financial power of attorney or to complete the last will and testament, these Jacksonville, FL professionals are an invaluable resource.