Probate Attorney, Hernando County, Florida
Probate is the legal process that takes place after your death to pass title to your assets and to resolve any outstanding debts. The process is required for any estate with assets of $100,000 or more held solely in your name (not in a trust) with no valid beneficiary designation, regardless of whether a will exists. All assets in probate are subject to state-mandated attorney and personal representative fees, as well as court costs.
By meeting with the attorneys of Morris Law Group in Brooksville Florida, The person to be appointed as personal representative begins the probate process. After getting the necessary information, the Morris Law Group will file the appropriate documents on your behalf, with the probate court to have the personal representative appointed. A valid will dictates the disposition of the assets. Due to notice requirements for heirs, beneficiaries, and creditors, probate takes an absolute minimum of six months to complete. Without a skilled attorney, a probate can take years to settle.
Probate and probate litigation is also a very expensive process. It can cost an estate up to eight percent of its worth to cover the attorney and personal representative fees. This does not include court costs. Depending on the size of your estate, this could mean tens of thousands of dollars or more that could otherwise have been passed to your heirs.
In addition, probate cases become public information, entitling anyone access to private matters and potentially causing embarrassment or aggravation to your family.
Planning ahead to avoid probate may be the single most important act you can do to protect your heirs from this expensive, lengthy, and annoying process. The attorneys at Morris Law Group, Brooksville Florida, provide expert legal guidance in both avoiding probate, and handling the probate process efficiently if it becomes necessary.
Estate Planning: An estate plan is not just your trust or will. It is a complete set of tools used to control what will happen to you and your assets when you are no longer able to make those decisions for yourself, including:
- Revocable living trusts
- Powers of attorney
- Advanced health care directives
- HIPAA releases.
A quality estate plan will meet your needs today, implement tax planning strategies appropriate for your current situation, and set the foundation for future revisions as your family and financial situation change over the years. Call Morris Law Group in Brooksville Florida so we can help to make this process as painless as possible for you and your family. 352-796-9999
Trust Administration: A trust agreement sets forth your right to control your assets for as long as you are able. It names the person that you want to control your assets should you become incapacitated or deceased. This person is known as the successor trustee.
A properly structured revocable living trust can provide for the surviving spouse while protecting the interests of any children. This may be especially important if the children are from a prior marriage. It also avoids probate and a conservatorship of your assets and can minimize estate taxes. It should work in concert with all of your estate planning documents to minimize capital gains tax and other income taxes paid by the surviving spouse, children, or other beneficiaries.
An attorney plays an important role in trust administration. The attorneys of Morris Law Group in Brooksville Florida will help the successor trustee carry out your wishes while protecting your successor trustee from personal liability. Our attorneys also use their expertise to help your family activate the trust and then protect it by ensuring that all necessary procedures and laws are followed. Put your family under the capable care of the attorneys at Morris Law Group in Brooksville Florida.
Tax Planning: An integral part of the estate planning process, tax planning involves the arrangement of your affairs in a way to best reduce tax liability. The skilled estate planning attorneys of Morris Law Group in Brooksville Florida, will ensure that your estate plan incorporates the simplest tax planning strategy possible to minimize the tax burden on your heirs and still comply with the relevant federal, state, and local laws.
Our experienced estate attorneys have up-to-date knowledge of the best ways to distribute your assets and can predict the impact those methods will have on estate tax, income tax, and capital gains tax liabilities. Given the complexities of today’s federal and state tax laws, the legal advice of the attorneys at Morris Law Group in Brooksville Florida, can be extremely helpful in preserving your property, assets, and wealth for your family.