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Estates, Trusts, Wills

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Jacksonville Estate, Trusts & Wills Lawyers

Serving Generations of Families in Estate Planning

Estate planning is all about protecting your loved ones and preserving the assets you’ve spent a lifetime working to obtain. Many people tend to avoid this issue or procrastinate because it is not something that affects them at the moment. However, putting it off can lead to never having created a sound plan in the first place. This can leave your family without clear guidance at a time when they are going through the emotional trauma of your incapacitation or death.

Estate planning has many benefits other than providing instructions for your heirs and beneficiaries. At the Law Offices Of Fred Tromberg, we can walk you through the various methods and steps of such planning, explain your options, advise you on the benefits of each option, and create a plan that is tailored to your individual needs and objectives. Our Jacksonville estate, trusts, and wills attorneys are well-versed in all of the available legal tools, can help you keep your estate plan current, and can provide legal counsel in its administration when necessary.

Turn to the Law Offices Of Fred Tromberg for all of your estate planning needs. Contact us online or at (904) 297-2063 for a free, initial consultation.

Estate Planning Tools in Florida

Every estate plan is customized to fit your unique set of assets and property, your family dynamics, and specific needs.

The common legal tools used in estate planning include:

  • A last will and testament. In this document, you will name your beneficiaries, what, how, and when you wish them to receive various assets, name your personal representative, and name a guardian and estate manager for any minor children. This is often the foundation of your plan and does not kick in until your passing.
  • Trusts. These can be set up for various purposes, such as to provide funds for a disabled child or adult relative, for charities, pets, and for irresponsible heirs who might otherwise spend their inheritance unwisely.
  • Living trusts. These are one of the most popular types of trusts wherein you transfer assets to a separate legal entity, remain the trustee of these assets while you are alive, and set up a successor trustee to follow your trust instructions in passing the assets on to your beneficiaries upon your passing.
  • Advance directives, also known as living wills. This document provides instructions about the type of medical interventions you wish to have or not have should you be unable to communicate your wishes. These issues can involve whether to resuscitate and other decisions when terminally ill or at end-of-life.
  • Powers of Attorney. These documents authorize a trusted person to act on your behalf when you are unable to. They can authorize limited or general powers to your “agent” and can involve financial, medical, and other life decisions. Two common examples are Durable Powers of Attorney that allow your agent to handle all of your life affairs and a Medical Power of Attorney that gives your agent the power to make health care decisions only.

Benefits of Estate Planning

The benefits of proper estate planning are many. It provides clarity to your family and beneficiaries at a time when they most need it. It ensures that your assets and property are passed on according to your wishes. For example, without a basic will, you will die “intestate” leaving the decisions of how your estate will be settled in the hands of a probate judge. This judge will have no idea what you would have wanted and can only follow state probate law as to the distribution of your assets.

Other benefits include the minimization of estate taxes, court costs and legal fees, clear instructions in the event of any incapacity, and financial support for any of your favorite organizations or causes.

Protect Your Legacy With Our Help

Our firm is here to help you understand how estate planning works and to design a plan tailored to your unique needs. Our legal team has more than 80 combined years of successful service to individuals, families, and generations of families throughout the greater Jacksonville area. Let us use our extensive knowledge and experience to help you with this important and valuable legal matter.

Book your free, initial consultation with us by contacting us online or at (904) 297-2063 today.

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