If you are in need of assistance with creating or modifying an estate plan, our dedicated Tampa divorce lawyer can help you. Whether you need assistance with a will, trust, power of attorney, advanced medical directive, or another matter related to your estate plan, our team is here to help you. Your estate plan is an incredibly important part of securing your future and the future of your family and loved ones, and having legal assistance when drafting your estate plan is crucial to ensure that it is comprehensive, legal, and enforceable. To discover how we can help you with your estate plan, contact The McKinney Law Group Family & Divorce Lawyers today.
Why Choose the McKinney Law Group for Estate Planning?
Founding attorney Damien McKinney is a 5th generation Florida native with over two decades of legal experience. He works diligently to achieve amicable resolutions through negotiation and settlement, protecting families and their assets while focusing on the humans involved in each case. Fellow attorney Stephanie Koether provides tenacious and empathetic representation to help her clients achieve their goals and meet their needs.
When you choose to work with the McKinney Law Group Family & Divorce Lawyers, you benefit from:
- Our track record of success: We have represented countless clients in matters of trust, estate, and probate through the years. Our firm is fully prepared to take on your case.
- Our exclusive focus on family law: Instead of offering services across a range of legal matters, the McKinney Law Group Family & Divorce Lawyers focuses specifically on family law and estate planning. Your attorney has years of experience dealing with cases just like yours and will fight tirelessly to secure the best possible outcome for you.
How Our Tampa, FL Estate Planning Attorney Can Help
Whether you’re looking to safeguard your assets for the future, administer an estate, or need assistance with the probate process, our experienced estate planning lawyer in Tampa can help. At McKinney Law Group Family & Divorce Lawyers, we are prepared to assist with:
- Estate planning: We provide trusts, wills, and other important documentation to achieve your tax goals and preserve your assets.
- Estate & trust administration: We help estate representatives carry out legal obligations to taxing authorities, creditors, and beneficiaries.
- Estate & trust litigation: We are fully prepared to pursue or defend complex will and trust disputes on behalf of fiduciaries and beneficiaries.
- Guardianship administration: Our estate planning attorneys represent guardians who are entrusted by the court to manage the assets of incapacitated people, including minors.
Key Components Of A Comprehensive Estate Plan
When you are creating an estate plan, it is important to ensure that it is comprehensive and covers all of your bases. Our Tampa, Florida estate planning attorney can help you craft an estate plan that fits your needs and includes all of the components that you need to protect your interests and your future. Some common components of an estate plan are a will or trust, a power of attorney, a healthcare directive, a guardianship designation, and more. By discussing your situation with our team, you can ensure that your estate plan represents your wishes.
The Difference Between A Will And A Trust
Understanding the difference between a will and a trust and which one is right for your situation is an incredibly important component of an estate plan. A will is a legal document that states how you wish for your asset to be distributed upon your death. A trust is a legal arrangement through which one person, the trustee, maintains assets on behalf of the trust’s beneficiaries. By naming yourself as the trustee of your trust, you can place assets into a trust and maintain control of them during your lifetime while still allowing them to be distributed according to your wishes after your death.
A trust may be a favorable option for your estate plan due to the tax benefits that they can provide to both you and your beneficiaries. Additionally, trusts do not have to go through probate, again simplifying the process for your beneficiaries. Our Tampa estate planning attorney can help you understand if a trust is right for you and how to establish one, if so.
Tampa, FL Estate Planning FAQs
How Often Should You Review Your Estate Plan?
You should review your estate plan periodically. Over time, both your financial circumstances and desires may change. It is wise to review your estate plan every two or three years, to ensure it is still aligned with your wishes and financial goals. If you experience a significant life change such as birth, death, marriage, divorce or disability of you or a beneficiary, or a substantial change in net worth, it is worth reviewing your estate plan sooner.
What is Probate?
Probate is a legal process that begins when someone passes away. The process begins by proving that the deceased person’s will is valid. From there, the deceased person’s property is identified, inventoried, and appraised. Once debts and taxes are paid off, the remaining property is distributed as the will dictates. If there is no will, property is distributed according to state law.
Who Handles Probate?
In most cases, a person’s will names a personal representative. The personal representative will be responsible for handling probate. If there is no will or the existing will does not name a personal representative, the probate court will assign an administrator to handle the process. Generally, this will be the closest capable relative or person who stands to inherit the bulk of the deceased person’s assets.
How Are Guardians Appointed?
Any state official, relative, or other person can petition the court to appoint a guardian. If you are the person alleged to be incapacitated, you must be informed of the petition for appointment of a guardian and of the scheduled time for hearing. You will be interviewed by an appointed guardian ad litem, who will investigate the matter and make a recommendation on whether or not you should receive a guardian. You have the right to be represented by a Tampa family law attorney during the process.
Contact Our Tampa, FL Estate Planning Lawyer Today
Having a clear and effective estate plan is an important part of planning for the future and safeguarding the future of your family and loved ones. Ensuring that your estate plan is legally sound is important. To discuss your plan with our experienced attorney, schedule a consultation with The McKinney Law Group Family & Divorce Lawyers today.