Category: Estate Planning

Demystifying Living Trusts and Estate Administration in Miami Beach and Fort Lauderdale

Demystifying Living Trusts and Estate Administration in Miami Beach and Fort Lauderdale

Estate planning is more than just a legal necessity; it’s a critical component of financial wellness and peace of mind. At Parker & Maloney, P.A., we understand the complexities and nuances of estate planning in Miami Beach and Fort Lauderdale. This article is designed to demystify living trusts and estate administration, providing you with the clarity and direction needed to navigate these essential processes confidently.

What is a Living Trust?

A living trust is a cornerstone of effective estate planning. It allows you to transfer your assets into a trust for the benefit of your beneficiaries, bypassing the often lengthy and public process of probate. Whether you’re looking to protect your privacy, manage your assets during incapacitation, or ensure a smooth transition of your estate, understanding the role and benefits of living trusts is paramount.

Types of Living Trusts:

We help our clients navigate the choices between revocable and irrevocable trusts, tailoring solutions to meet their specific needs and goals.

Benefits:

With a living trust, you can avoid probate, reduce estate taxes, and ensure that your estate is managed according to your precise wishes.

How to Set Up a Living Trust in Miami Beach and Fort Lauderdale

The process of establishing a living trust is meticulous but straightforward with the right guidance. At Parker & Maloney, P.A., we assist our clients through every step, from choosing the appropriate trust type to transferring assets into the trust. Our approach is tailored to comply with local regulations, ensuring a seamless and effective estate planning experience.

Estate Administration Basics

Administering an estate is a significant responsibility, involving the management and distribution of assets according to the deceased’s wishes or state law. Our role includes guiding executors and administrators through this complex process, ensuring that all legal, tax, and administrative tasks are handled efficiently and compassionately.

Comparing Living Trusts and Wills

Understanding the differences between living trusts and wills is crucial for any comprehensive estate plan. Each has its advantages and serves different purposes. Our expertise helps clients make informed decisions that align with their estate planning objectives.

The Role of Estate Planning Lawyers in Miami Beach and Fort Lauderdale

The intricacies of estate planning require professional legal expertise. At Parker & Maloney, P.A., we bring years of experience and a deep understanding of local laws to the table, helping our clients navigate the estate planning process with confidence and ease.

Tax Implications of Living Trusts

Tax planning is an integral part of estate planning. We work with our clients to explore the tax implications of living trusts, advising on strategies to minimize tax liabilities while maximizing the benefits to beneficiaries.

Challenges and Solutions in Estate Administration

Estate administration can present various challenges, from beneficiary disputes to legal hurdles. Our experience allows us to anticipate potential issues and provide strategic solutions, ensuring a smooth administration process.

Living Trusts and Real Estate

For Miami Beach and Fort Lauderdale residents, real estate is often a significant part of an estate. We specialize in incorporating real estate into living trusts, offering strategies to manage and protect these valuable assets effectively.

Living Trusts and Real Estate

For Miami Beach and Fort Lauderdale residents, real estate is often a significant part of an estate. We specialize in incorporating real estate into living trusts, offering strategies to manage and protect these valuable assets effectively.

Living Trusts and Real Estate

For Miami Beach and Fort Lauderdale residents, real estate is often a significant part of an estate. We specialize in incorporating real estate into living trusts, offering strategies to manage and protect these valuable assets effectively.

Living Trusts and Real Estate

For Miami Beach and Fort Lauderdale residents, real estate is often a significant part of an estate. We specialize in incorporating real estate into living trusts, offering strategies to manage and protect these valuable assets effectively.

Conclusion

At Parker & Maloney, P.A., we’re committed to providing our clients with the knowledge and tools needed for effective estate planning. Living trusts and estate administration are complex, but with our expertise, you can navigate these processes with clarity and confidence. We encourage you to take the next step in securing your legacy and protecting your loved ones.

FAQs

What’s the difference between a revocable and an irrevocable living trust?

How does a living trust avoid probate?

Discover more about our expert legal services by visiting our website JonathanHParker.com or give us a call. We’re looking forward to helping you secure your family’s future.

Parker & Maloney, P.A.
333 Sunset Drive
Fort Lauderdale, FL 33301

Phone:
(954) 773-7000

(877) 727-5379

Mon 9:00 AM – 5:00 PM
Tue 9:00 AM – 5:00 PM
Wed 9:00 AM – 5:00 PM
Thu 9:00 AM – 5:00 PM
Fri 9:00 AM – 5:00 PM
Sat 9:00 AM – 5:00 PM
Sun 9:00 AM – 5:00 PM

Charting the Maze of Probate in Honolulu and Hawaii.

Charting the Maze of Probate in Honolulu and Hawaii.

Dealing with the complex legalities of probate can be overwhelming, especially during an already difficult time. That’s when you need a trusted attorney who not only understands the intricacies of probate law but also has the expertise to guide you through the process smoothly. Look no further than Parker & Maloney, a renowned law firm led by Attorney Jonathan H. Parker, who specializes in probate law in Honolulu and across Hawaii.

The Quintessence of Astute Probate Representation

In the realm of probate affairs, the guidance of a counsel concentrated on this discipline is paramount. Attorney Jonathan H. Parker, alongside his cadre at Parker & Maloney, are connoisseurs of the probate voyage, ensuring your entitlements are safeguarded and the estate’s stewardship is conducted with paramount diligence.

Armed with a profound comprehension of probate statutes, Parker & Maloney adeptly traverse the legal quagmire, attending to every minutiae. From the initiation of requisite documentation to advocacy in the halls of justice, their cadre of proficient attorneys is primed to address every facet of probate proceedings.

Moreover, Attorney Jonathan H. Parker’s bespoke strategy distinguishes him. He invests time to delve into the idiosyncrasies of each client’s predicament and aspirations, crafting his legal maneuvers accordingly. Through lucid and succinct elucidation of legal proceedings, he equips clients with the knowledge to make enlightened choices at every juncture.

Advocacy Across Honolulu and the Hawaiian Expanse

Nestled in Honolulu, Parker & Maloney has been the pillar for clients throughout the Hawaiian realm for more than a decade. Attorney Jonathan H. Parker’s acumen in probate law spans the entire state, enabling assistance to clientele in myriad locales, inclusive of (mention specific regions if desirable). Whether ensconced in Honolulu or any other Hawaiian locale, you may entrust Parker & Maloney with unparalleled legal advocacy in probate matters.

Within the intricate domain of probate law, the alliance with a veteran attorney is a treasure of immense value. Attorney Jonathan H. Parker and his ensemble at Parker & Maloney are committed to shepherding clients through the complexities of probate in Honolulu and the splendid Hawaiian state.

Their steadfast pursuit of excellence, tailored approach, and deep-seated knowledge of probate law, have established Parker & Maloney’s eminent reputation for surpassing outcomes. Electing Parker & Maloney means allying with a squadron that will accompany you at each stride, guaranteeing your entitlements are defended, and your probate affairs are managed with the highest degree of attention. Eschew the solitude of facing probate challenges. Engage Parker & Maloney forthwith to arrange a counsel and unveil how their expertise can illuminate your probate proceedings. Allow Attorney Jonathan H. Parker and his dedicated team to bestow the legal insight required to traverse the probate process with assurance.

Parker & Maloney
1050 Bishop St. Ste 268
Honolulu, HI 96813

Phone:
(808) 371-6771
(877) 727-5379

Mon 9:00 AM – 5:00 PM
Tue 9:00 AM – 5:00 PM
Wed 9:00 AM – 5:00 PM
Thu 9:00 AM – 5:00 PM
Fri 9:00 AM – 5:00 PM
Sat 9:00 AM – 5:00 PM
Sun 9:00 AM – 5:00 PM

Navigating Probate in Miami Beach and Fort Lauderdale: Guidance from Parker & Maloney, P.A.

Navigating Probate in Miami Beach and Fort Lauderdale: Guidance from Parker & Maloney, P.A.

In addressing estate settlement affairs in Miami Beach and Fort Lauderdale, the necessity of legal expertise cannot be overstated. Parker & Maloney, P.A., under the stewardship of Attorney Jonathan H. Parker, specializes in estate settlement law and is committed to furnishing adept legal guidance to clientele in these regions. Within this narrative, we shall delve into the significance of retaining an estate settlement attorney, the principal stages inherent in the estate settlement progression, and how Parker & Maloney, P.A. can furnish comprehensive assistance at each juncture.

The Significance of Retaining an Estate Settlement Attorney

Confronted with the prospect of navigating the estate settlement trajectory, many individuals might contemplate self-management. Yet, estate settlement proves to be a convoluted and time-intensive undertaking, necessitating a profound comprehension of legal protocols and documentation. This underscores the indispensability of a reputable estate settlement attorney like Jonathan H. Parker from Parker & Maloney, P.A. With a wealth of experience in estate settlement law, Attorney Parker possesses a nuanced grasp of the complexities inherent in estate settlement affairs. He can aid in formulating a comprehensive estate plan, safeguarding assets, and ensuring the welfare of beneficiaries. Additionally, Attorney Parker can provide expert counsel in mediating disputes and facilitating a seamless estate settlement administration.

The Estate Settlement Disclosed

Estate settlement denotes the legal process of administering and disbursing the assets and liabilities of a deceased individual. It encompasses various phases that demand meticulous adherence to ensure equitable and expeditious resolution. Presented herewith are some pivotal stages intrinsic to the estate settlement process:

Commencement of Petition: The estate settlement process commences with the submission of a petition to the court. Attorney Parker shall shepherd you through this inaugural phase, guaranteeing meticulous preparation and filing of requisite documentation.

Asset Assessment and Valuation: The assets of the deceased must be discerned, evaluated, and cataloged. Attorney Parker can lend assistance in this pivotal phase, ensuring comprehensive asset identification and accurate valuation.

Settlement of Liabilities and Levies: Prior to asset distribution, liabilities and taxes necessitate settlement. Attorney Parker shall labor assiduously to ensure the discharge of all outstanding liabilities and the fulfillment of tax obligations.

Asset Dissemination: After debt and tax resolution, residual assets can be apportioned to beneficiaries in accordance with the deceased’s testamentary intentions or statutory provisions. Attorney Parker shall oversee this process to ensure equitable and lawful asset distribution.

Parker & Maloney, P.A.: Your Esteemed Estate Settlement Advocates

At Parker & Maloney, P.A., cognizant of the emotional and fiscal strain accompanying estate settlement, our team is committed to furnishing empathetic and proficient legal assistance to patrons in Miami Beach and Fort Lauderdale. Endowed with profound acumen and experience in estate settlement law, Attorney Jonathan H. Parker instills confidence in clients by ensuring their estate settlement affairs are entrusted to capable hands. Our tailored approach and meticulous attention to detail serve as differentiators, as we endeavor to secure optimal outcomes for our clientele.

Engage Parker & Maloney, P.A. Today

For those seeking seasoned and dependable legal representation for estate settlement matters in Miami Beach or Fort Lauderdale, Parker & Maloney, P.A. stands ready to assist. Schedule a consultation with Attorney Jonathan H. Parker today, and embark on the estate settlement journey fortified with assurance.

Parker & Maloney, P.A.
333 Sunset Drive
Fort Lauderdale, FL 33301

Phone:
(954) 773-7000

(877) 727-5379

Mon 9:00 AM – 5:00 PM
Tue 9:00 AM – 5:00 PM
Wed 9:00 AM – 5:00 PM
Thu 9:00 AM – 5:00 PM
Fri 9:00 AM – 5:00 PM
Sat 9:00 AM – 5:00 PM
Sun 9:00 AM – 5:00 PM

Probate Process Simplified: Your Guide in Fort Lauderdale

Probate Process Simplified: Your Guide in Fort Lauderdale

Introduction to Probate in Fort Lauderdale with Parker & Maloney, P.A.

Probate Process

Probate is the judicial procedure for validating and executing the will of a deceased person. This formal process ensures the appropriate distribution of assets to heirs while settling all existing debts. In Fort Lauderdale, as elsewhere, probate can seem intricate. However, with expert legal assistance, such as that from Parker & Maloney, P.A., the maze of probate becomes far more manageable.

Why You Need Expertise in Fort Lauderdale’s Probate Process

The vibrant real estate scene in Fort Lauderdale means many estates comprise valuable assets. Furthermore, Fort Lauderdale’s diverse population indicates a myriad of wills, trusts, and estates requiring probate every year. Engaging experts like Parker & Maloney, P.A. ensures you’re well-positioned to navigate these complexities.

Kick-starting the Probate Process

  1. Unearthing the Will: The primary task is to locate the deceased’s will. If present, this legal document will guide the distribution of assets. In its absence, asset distribution is governed by Florida’s intestacy rules.
  2. Designating a Personal Representative: This individual, usually named in the will, oversees the estate’s management. Should the will not specify, the court takes the reins and appoints one.
  3. Listing Assets: Led by the personal representative, this step entails compiling a list of all assets, which can range from property and vehicles to jewelry and bank accounts.

Efficiently Tackling Probate Court in Fort Lauderdale with Parker & Maloney, P.A.

The Fort Lauderdale probate court, consistent with Broward County’s mandate, has specific protocols and schedules. Post the personal representative’s appointment, there’s a necessity to inform all potential creditors. They typically have 90 days to claim against the estate.

Simultaneously, a ‘Notice to Creditors’ gets published in local newspapers for two successive weeks, giving even ascertained creditors an opportunity to come forward.

Addressing Debts and Taxes

The estate’s assets can only be dispensed after the clearance of all genuine debts and outstanding taxes. Parker & Maloney, P.A. offers invaluable guidance during this delicate phase, ensuring that all financial obligations are met before asset distribution.

Dissemination of the Estate’s Assets

After settling all financial obligations, the personal representative, under the advisory umbrella of Parker & Maloney, P.A., can distribute the assets. This distribution must mirror the will’s instructions or, if absent, abide by Florida’s legal provisions.

Concluding the Probate Journey

This phase requires the personal representative to present a comprehensive account of their activities to the court. This dossier should encompass the estate’s inventory, settled debts, and distribution methods. Once the court gives its nod of approval, the representative’s role concludes, and so does the probate journey.

Potential Roadblocks in Fort Lauderdale’s Probate Process

Even with a structured approach, probate isn’t free from potential snags. Issues such as ambiguities in the will, beneficiary disagreements, or complications with creditors can arise. This is where the seasoned expertise of Parker & Maloney, P.A. proves invaluable, steering the process away from potential pitfalls.

Conclusion

To navigate the Fort Lauderdale probate landscape, having a firm like Parker & Maloney, P.A. by your side is invaluable. This guide, coupled with our expert legal counsel, ensures that the probate process in this dynamic city remains a well-orchestrated endeavor.

Discover more about our expert legal services by visiting our website JonathanHParker.com or give us a call. We’re looking forward to helping you secure your family’s future.

Parker & Maloney, P.A.
333 Sunset Drive
Fort Lauderdale, FL 33301

Phone:
(954) 773-7000

(877) 727-5379

Mon 9:00 AM – 5:00 PM
Tue 9:00 AM – 5:00 PM
Wed 9:00 AM – 5:00 PM
Thu 9:00 AM – 5:00 PM
Fri 9:00 AM – 5:00 PM
Sat 9:00 AM – 5:00 PM
Sun 9:00 AM – 5:00 PM

Secure Your Legacy with Estate Planning in Honolulu: Why Parker & Maloney Should Be Your First Choice

Secure Your Legacy with Estate Planning in Honolulu: Why Parker & Maloney Should Be Your First Choice

Introduction:

Estate planning is not just for the wealthy; it’s a crucial step for everyone who wishes to ensure that their assets are distributed according to their desires after their passing. In Honolulu, Hawaii, the intricacies of estate planning require a deep understanding of local laws and regulations. That’s where the expert services of Parker & Maloney come in. With years of experience in Hawaii’s legal landscape, we are poised to offer you comprehensive, reliable estate planning services.

What is Estate Planning?

Estate planning is a systematic approach to organizing your financial affairs to prepare for your eventual passing or incapacity. This involves the creation of wills, trusts, power of attorney documents, and other essential legal instruments. Through effective estate planning, you can protect your legacy and provide for your loved ones in a manner that aligns with your wishes.

Why Choose Parker & Maloney for Estate Planning in Honolulu?

Local Knowledge:

As specialists in Hawaii’s legal environment, we understand the specific regulations and challenges involved in estate planning in Honolulu. This enables us to guide you effectively through the process.

Comprehensive Services:

From drafting wills and establishing trusts to providing advanced healthcare directives and power of attorney, our team offers a full range of estate planning services to suit your specific needs.

Client-Centric Approach:

Your unique needs and wishes are the cornerstone of our estate planning strategies. We take the time to understand your financial situation and familial relationships to create an estate plan that reflects your preferences.

Transparent and Compassionate Communication:

We understand the sensitive nature of estate planning and provide empathetic and clear communication throughout the process.

Contact Us:

Don’t leave your legacy to chance. Secure your assets and ensure peace of mind for you and your loved ones with estate planning services from Parker & Maloney in Honolulu, Hawaii. Visit our website at Parker & Maloney for more information or to schedule a consultation.

Conclusion:

When it comes to securing your legacy through estate planning in Honolulu, choosing Parker & Maloney ensures that you are placing your trust in hands that are both competent and compassionate. Our mission is to provide you with customized, effective solutions for all your estate planning needs.

Comprehensive Estate Planning Services in Miami and Fort Lauderdale, Florida

Comprehensive Estate Planning Services in Miami and Fort Lauderdale, Florida

Are you a resident of Miami or Fort Lauderdale, Florida, seeking expert guidance for your estate planning? Look no further. With Parker & Maloney, P.A., you can rest assured that your assets, estates, and loved ones are in safe, experienced hands.

Why Estate Planning is Essential

Estate planning is not just for the wealthy; it’s crucial for everyone, regardless of the size of your estate. It ensures that your assets are distributed according to your wishes, reducing potential disputes and misunderstandings among your heirs. Additionally, estate planning helps mitigate hefty estate taxes and enables you to establish guardianship for your minors.

Parker & Maloney, P.A. – Your Trusted Estate Planning Partners in Miami and Fort Lauderdale

Parker & Maloney, P.A. is a top-rated law firm specializing in estate planning services in Miami and Fort Lauderdale, Florida. We offer personalized, comprehensive services aimed at safeguarding your estate and ensuring a smooth transition for your loved ones in case of your absence.

Our services range from drafting wills and trusts, asset protection, probate and trust administration, to special needs planning and guardianship. Whatever your estate planning needs, we are ready to guide you through every step.

Why Choose Parker & Maloney, P.A.?

Choosing the right law firm to handle your estate planning is a decision that requires careful consideration. Here’s why you should trust Parker & Maloney, P.A. with your estate planning needs:

  • Experience: Our skilled attorneys have extensive experience in estate planning law. We’ve been serving the communities of Miami and Fort Lauderdale, Florida, for years, providing legal solutions tailored to individual needs.
  • Personalized Attention: We value our clients and work closely with them to understand their unique circumstances and goals. This personalized approach allows us to develop effective estate plans that meet their specific needs.
  • Comprehensive Service: Our law firm offers a full range of estate planning services, ensuring that all aspects of your estate are meticulously planned and legally sound.

Remember, it’s never too early to start planning for the future. Contact Parker & Maloney, P.A. today for comprehensive estate planning services in Miami and Fort Lauderdale, Florida. We’re here to provide you with peace of mind, knowing that your estate will be managed exactly how you desire.

Discover more about our expert legal services by visiting our website JonathanHParker.com or give us a call. We’re looking forward to helping you secure your family’s future.

Parker & Maloney, P.A.
333 Sunset Drive
Fort Lauderdale, FL 33301

Phone:
(954) 773-7000

(877) 727-5379

Mon 9:00AM – 5:00PM
Tue 9:00AM – 5:00PM
Wed 9:00AM – 5:00PM
Thu 9:00AM – 5:00PM
Fri 9:00AM – 5:00PM
Sat 9:00AM – 5:00PM
Sun 9:00AM – 5:00PM

Parker & Maloney, P.A.
3921 Alton Road #404
Miami Beach, FL 33140

Phone:
(305) 444-4900
(877) 727-5379

Mon 9:00AM – 5:00PM
Tue 9:00AM – 5:00PM
Wed 9:00AM – 5:00PM
Thu 9:00AM – 5:00PM
Fri 9:00AM – 5:00PM
Sat 9:00AM – 5:00PM
Sun 9:00AM – 5:00PM

Navigate Your Estate Planning with Parker & Maloney, P.A. in Miami & Fort Lauderdale, Florida

Navigate Your Estate Planning with Parker & Maloney, P.A. in Miami & Fort Lauderdale, Florida

Planning for the future is not an easy task, especially when it involves your estate. If you live in Miami or Fort Lauderdale, Florida, Parker & Maloney, P.A., are here to guide you through the complexities of estate planning. Our deep experience and tailored approach ensure your financial legacy is protected for future generations.

Why Is Estate Planning Vital?

Estate planning, while not something we like to think about, is essential. It ensures your wealth, properties, and assets are appropriately distributed upon your death. Without an estate plan, state laws will dictate what happens to your property – which may not align with your wishes. For residents of Miami and Fort Lauderdale, Parker & Maloney, P.A. are the trusted guides in navigating these potentially turbulent waters.

How Can Parker & Maloney, P.A. Assist You?

With over 25 years of combined experience in Florida law, our attorneys have the expertise to navigate you through the process of estate planning. We take the time to understand your specific situation and create a unique estate plan tailored to your needs.

Wills & Trusts

Our Miami and Fort Lauderdale estate planning attorneys help you draft wills and establish trusts, ensuring your assets are distributed according to your wishes. Whether it’s a simple will or a more complex trust structure, we provide professional and personalized service.

Probate & Estate Administration

Parker & Maloney, P.A. assists with the probate process, making it smoother and less stressful. Our expertise includes formal and summary administrations, trust administration, and dealing with ancillary probate issues.

Estate Tax Planning

Our lawyers are experienced in navigating the complexities of Florida and federal estate tax laws. We help you structure your estate in a way that minimizes tax liabilities and maximizes wealth for your beneficiaries.

Your Estate Planning Attorney in Miami and Fort Lauderdale

If you’re looking for estate planning attorneys in Miami and Fort Lauderdale, you’ve come to the right place. At Parker & Maloney, P.A., we are committed to providing high-quality and personalized service. Our comprehensive approach ensures your peace of mind, knowing your estate will be managed according to your wishes.

Contact us today to schedule a consultation. With our team by your side, estate planning becomes less daunting, allowing you to focus on what’s important – enjoying life in beautiful Miami or Fort Lauderdale, Florida.

Your future starts now. Entrust it to Parker & Maloney, P.A., your expert in estate planning in Miami and Fort Lauderdale, Florida. Visit our website for more information.

Parker & Maloney, P.A.
3921 Alton Road #404
Miami Beach, FL 33140

Phone:
(305) 444-4900
(877) 727-5379

Mon 9:00AM – 5:00PM
Tue 9:00AM – 5:00PM
Wed 9:00AM – 5:00PM
Thu 9:00AM – 5:00PM
Fri 9:00AM – 5:00PM
Sat 9:00AM – 5:00PM
Sun 9:00AM – 5:00PM

Parker & Maloney, P.A.
333 Sunset Drive
Fort Lauderdale, FL 33301

Phone:
(954) 773-7000

(877) 727-5379

Mon 9:00AM – 5:00PM
Tue 9:00AM – 5:00PM
Wed 9:00AM – 5:00PM
Thu 9:00AM – 5:00PM
Fri 9:00AM – 5:00PM
Sat 9:00AM – 5:00PM
Sun 9:00AM – 5:00PM

How to navigate an estate plan after losing a loved one

How to navigate an estate plan after losing a loved one

Woman standing at headstone holding red flowers in cemetary. Illustrates mourning and relates to how to navigate an estate plan after losing a loved one.

Unfortunately, more and more families are having to navigate the loss of their loved one. Imagine the 640,000 families dealing with losing a loved one from Covid-19? And, those deaths are in addition to heart attacks, and all the other causes we see on an annual basis.

Steps to navigate an estate plan

You have so much on your plate, yet there are steps you need to take to deal with the most essential tasks and avoid some common mistakes. Here are some basics:

  • Tell Others — Oftentimes, you need to notify others before doing anything else so you can make funeral and/or memorial arrangements. The people you’ll need to contact include, but are not limited to family members, friends, employers, coworkers, plus personal and professional acquaintances. 

These days, many people use social media to get the word out after making final arrangements.

  • Gather Documents – First and foremost, you’ll need the death certificate. You can obtain this from the funeral home or medical examiner’s office. I know you’re stressed, but you really need to get this quickly since you’ll need it to access the deceased’s financial accounts, to file a claim for life insurance, as well as addressing other personal affairs. 
  • Notify Authorities — Most often, the estate’s executor has the responsibility to notify authorities. These include, but not limited to:
    • Social Security Administration
    • banks and mortgage companies
    • property management
    • financial advisor
    • insurance companies

You’ll also want to gain access to any of the deceased safe deposit box(es). 

Additionally, in our online age, plan to notify and/or close social media, cloud storage, and email accounts, as well as any online accounts associated with credit cards, such as Amazon or Netflix.

  • Address the Deceased Wishes — If properly prepared as part of the deceased estate plan, the Will should contain final wishes. Now is the time to locate it and address what your loved one painstakingly wanted at life’s end.
  • Settle the Estate — Without legal help, this may prove arduous. That’s where we step in for our clients and ease the process. A few but not exclusive tasks include:
    • Transfer assets 
    • Probate estate, when required to transfer ownership of property. 
    • Reconcile any outstanding bills
    • Close accounts
    • Distribute remaining assets

We do this all the time!

Our job is to counsel our clients and help them navigate an estate plan before and after losing a loved one, and help probate estates, as necessary. We represent clients in Florida, New Jersey, and Hawaii. Call now 877.727.5379 to schedule a free initial consultation with our experienced estate planning and probate attorneys by phone or Zoom.

Estate Planning – The Basics

Estate Planning – The Basics

Estate planning graphic showing the five elements — Wills, Trusts, Probate, Power of Attorney, and Advanced Healthcare Directive — all provided by Estate Planning Attorney Jonathan Parker

Your estate — no matter how large or small — is what you’ve accumulated or will accumulate over your lifetime. Simply stated, estate planning is anticipating and making arrangement for your assets in the event you’re incapacitated in your lifetime and after your death. It can be as detailed as you need it to be. 

Estate Planning is the only way to ensure your assets are passed to your loved ones without problems, long delays, and high legal fees. And if you have children, planning for their future is essential. If you don’t your assets could go to the state or your wishes for a guardian of your minor children will never bee known,

The basic parts of an Estate Plan

Let’s look at the basic components of an estate plan:

  • Last Will and Testament: This is a legal document that expresses your wishes about how your property is to be distributed after your death, who you designate to manage the property, and to whom it’s distributed, which can include heirs, organizations, and more.
  • Trust: This is an arrangement that may allow you, a third party or trustee to hold assets on behalf of your beneficiar(ies). It is often part of a well-conceived estate plan and can help minimize estate taxes and avoid the necessity of probate and the need to go to court.
  • Durable Powers of Attorney (POA): Powers of Attorney allow you designate someone to manage your assets, make legal decisions on your behalf, and work with doctors to make medical decisions while you are living yet unable to handle your affairs or make your own decisions. Some people give their designee their powers of attorney while they are still able to handle their own assets and self yet no longer want to do so; for others, they establish the POA to take effect IF they are no longer able to care for themselves. A Durable Power of Attorney allows your agent to act on your behalf even if you are not mentally capable. All Powers of Attorney cease upon death of the maker.
  • Living Will / Advance Directive / Health Care Directive: These terms all refer to the legal document that lets you state your wishes for end-of-life medical care. For some clients, this is the most difficult document, but is extremely important. It’s your opportunity to specify what medical treatments you would want if you are unable to give informed consent. You’ll want to include whether you’ll want life-prolonging medical care, if you want to receive food and water, or prefer palliative care to interventional medicine. Additionally, it allows you to specify whether you want to be an organ and/or tissue donor.
  • Designating Beneficiaries: You’ve named your heirs in your Will, but what about your life insurance policies and financial accounts, such as your IRA or 401k? This is where you’ll want to designate beneficiaries. They can be the same as your heirs, but don’t necessarily have to be. It’s important to note that designated beneficiaries generally need a copy of the death certificate to file a claim to receive the assets. Assets from life insurance or a retirement plan pass outside of your estate immediately upon presentation of a death certificate. If you don’t designate beneficiaries, assets may pass to your estate and require probate and or payment of estate taxes.

Review existing Estate Plans

You already have all these documents. Great. But, if it’s been a while since you’ve reviewed and made changes, and your life has changed — maybe a new child or grandchild, marriage, or divorce — it’s time to review your documents and see if you need to update any or all of them. We’re here to help you with that, too. 

We do this all the time!

Our job is to counsel our clients and help them create a plan and legal documents that best fit their specific situations. We represent clients in Florida, New Jersey, and Hawaii. Call now 877.727.5379 to schedule a free initial consultation with our experienced estate planning and probate attorneys by phone or Zoom.

 Expertise

Our attorneys come from different backgrounds with diverse expertise. Our clients can always count on our attorneys to relate to their situation.

 Affordability

We strive to maintain a practice designed to be competitive when it comes to legal expenses AND to meet out client’s needs and expectations.

 Commitment

We work closely with our clients to enhance our technical knowledge of the specifics of each case we take on. It’s all about reaching the best outcome for you!