Estate Planning Attorney in Orlando

Helping With Wills, Trusts, Probate, Trust Administration, and All Estate Matters

In today’s uncertain world, people are increasingly concerned about the future and the need to plan ahead. Estate planning, a crucial aspect of this preparation, is often neglected, leaving individuals and their loved ones vulnerable to unforeseen circumstances.

A comprehensive estate plan not only ensures the proper distribution of assets but also addresses critical issues such as guardianship for minor children and health care directives. Imagine the peace of mind that comes from knowing that your family’s financial security, well-being, and legacy are safeguarded, even in the face of life’s unpredictable twists and turns.

Don’t let procrastination or indecision jeopardize your future – invest in estate planning today and secure a brighter tomorrow for yourself and those you hold dear.

Estate planning can be overwhelming and daunting, but it doesn’t have to be. Our trusted Orlando estate planning attorneys at the Law Office of Erin Morse are the key to ensuring that all your wishes and desires are fulfilled after you have passed on. We understand the complexities of estate planning and can help alleviate any stress or anxiety you may feel by providing knowledgeable advice and guidance.

Our estate planning attorneys will analyze your individual situation, identify areas of potential conflicts or vulnerabilities, and provide comprehensive protection for you and your family.

Our experienced legal team in Orlando, FL, can provide sound legal advice about tax laws, probate laws, gifting options, choosing a beneficiary, trusts, what happens in the case of divorce, establishing all estate planning documents, and other aspects of inheritance law. With our knowledge and experience in these areas of law, an estate planning lawyer can save valuable time by helping ensure that you take advantage of every opportunity available to reduce taxes on inheritances and trusts.

The Law Office of Erin Morse is prepared to help you plan for your future. Contact us today at 407-900-7451 to schedule an initial consultation.

Protecting Your Estate from Probate

Probate is the court-supervised process of validating a will, settling debts, and overseeing the distribution of the decedent’s assets. It can be lengthy and potentially costly. Certain legal instruments help avoid or minimize probate in Florida. Revocable living trusts, for example, allow the grantor to transfer assets into the trust’s name, bypassing traditional probate requirements. Other strategies include designating beneficiaries on retirement accounts or establishing joint ownership with rights of survivorship. Each approach aims to expedite asset transfers, reduce legal fees, and maintain privacy for the estate. However, careful drafting and ongoing management are critical to ensure these measures remain effective.

What is an Estate Plan?

Estate planning is an important step that anyone with assets or liabilities can take to protect their future financial security. An estate plan typically includes a will, trust, power of attorney, and other documents outlining how you want your assets distributed upon your death. It also outlines who will manage your affairs if you become incapacitated, establish guardianship for young children, or select someone to be your healthcare proxy and make medical decisions on your behalf.

Estate planning attorneys can help create wills, trust agreements, healthcare directives, advance directives (sometimes called living wills), powers of attorney, and other legal documents designed to protect an individual’s wishes and assets.

It’s important for individuals of all ages and all financial standing to consider establishing an estate plan with the guidance of an experienced estate planning attorney so they can have peace of mind that their wishes will be honored after they pass away.

Impact of Divorce on Estate Plans

Divorce automatically revokes certain provisions in wills or trusts that name an ex-spouse as a beneficiary under Florida law. Joint tenancy titles with the former spouse may also shift to a tenancy in common. Failure to update documents could yield unintended results if the beneficiary designations still list the ex-spouse. Incorporating a thorough review of all estate plan components immediately after a final divorce decree helps prevent lingering entitlements that might contradict current wishes. Remarriage to a new partner can further complicate matters, necessitating careful drafting of prenuptial or postnuptial agreements to clarify each spouse’s property rights.

How can an Orlando Estate Planning Attorney Help?

Creating Wills
An estate planning attorney can draft a will that outlines your final wishes, ensuring that your assets are distributed according to your preferences. This legally binding document also helps avoid potential family disputes after your passing.
Establishing Trusts
Trusts are essential tools for managing your assets and minimizing taxes. Attorneys can help create revocable or irrevocable trusts, which can ensure that your estate is managed efficiently, both during your lifetime and after death.
Power of Attorney (POA)
A POA allows you to designate someone to manage your affairs in the event of incapacitation. Estate planning attorneys can help you appoint a trusted individual to make financial or healthcare decisions for you when you cannot.
Healthcare Directives
Also known as living wills, healthcare directives outline your preferences for medical treatment in cases where you’re unable to communicate. Attorneys can ensure these are legally sound and reflect your wishes.
Asset Protection Planning
Protecting your wealth from creditors, lawsuits, or divorce is critical. Estate planning attorneys can set up legal structures like trusts or limited liability entities to protect your assets from potential claims.
Tax Planning and Minimization
Estate taxes can take a significant portion of your inheritance. Attorneys can structure your estate to reduce estate and inheritance taxes through tax-efficient strategies such as gifting, charitable donations, or creating family foundations.
Probate Assistance
The probate process can be complex and time-consuming. An estate planning attorney can guide your family through the probate process, ensuring that the estate is settled properly and efficiently while minimizing delays and costs.
Guardianship Planning for Minor Children
If you have minor children, it’s vital to appoint a guardian who will care for them in the event of your death. Estate planning attorneys can help you choose a responsible guardian and ensure your wishes are legally binding.
Business Succession Planning
For business owners, it’s important to plan how the business will be passed down or sold after death. Estate planning attorneys can help establish a clear succession plan that ensures the continued success of the business.
Special Needs Planning
If you have a family member with special needs, an estate planning attorney can help establish a special needs trust to provide for their care without jeopardizing their eligibility for government assistance.
Charitable Giving Strategies
For individuals interested in philanthropy, estate planning attorneys can help establish charitable trusts or foundations, allowing you to leave a legacy while also benefiting from potential tax deductions.
Updating and Reviewing Plans Regularly
As life circumstances change, so should your estate plan. Estate planning attorneys can work with you to review and update your plan periodically, ensuring it remains current and in line with your goals.

These services ensure that your wishes are honored, your family is taken care of, and your estate is handled according to your preferences.

Should I Create a Trust for My Estate Plan?

When considering how to best provide for your loved ones, creating a trust may be a first step. Estate planning attorneys are exceptionally knowledgeable and can help ensure all legal requirements are met when establishing a trust.

Trusts are an important part of estate planning as they allow assets and funds to be distributed according to the deceased person’s wishes without the need for the probate process. This can save considerable time, energy, and money down the road.

Additionally, trusts offer protection from creditors of the deceased person’s estate since they allow assets and funds to remain out of reach until distributed according to directives in the trust agreement.

With careful consideration given when establishing a trust, you can rest assured that your loved ones will receive their inheritance according to your wishes after you pass away. In addition, estate taxes may also be minimized while protecting against creditors’ claims on certain assets in some instances.

Digital Assets and Estate Planning

Online accounts and digital files often carry financial or sentimental value.

Digital assets that a comprehensive estate plan can cover include:

Cryptocurrency Wallets: Bitcoin, Ethereum, and other tokens require secure private keys that must be accessible to designated heirs.
Social Media Profiles: Platforms like Facebook or Instagram may contain personal memories or branding assets.
Email Accounts: Invoices, statements, and personal correspondence can remain locked without proper authorization.
Cloud Storage: Photos, videos, and important documents stored online might be lost if not included in a digital estate plan.
Online Subscriptions and Memberships: Automatic renewals or licensing agreements can create posthumous charges unless canceled by an authorized user.

By incorporating these items into estate documents, individuals offer clarity on who manages their online presence, ensuring the correct transfer, closure, or archival of accounts.

Why is Hiring an Estate Planning Lawyer Beneficial?

Hiring one of our Orlando estate planning lawyers can help ensure that your legacy and assets are managed in a way that meets all of your wishes. Our estate planning attorneys provide invaluable assistance when it comes to protecting your financial security, providing for loved ones, preserving family bonds, and minimizing taxes and other costs.

Having an estate planning lawyer to assist you with the legal aspects of estate planning is especially beneficial if you have a large or complex estate. We understand the statutes and regulations related to taxes, probate, business succession planning, trusts, guardianships, and more. Our estate planning lawyers can also keep track of important deadlines and help ensure all paperwork is filed correctly.

Avoiding Common Estate Planning Mistakes

Without an experienced estate planning attorney, a person is vulnerable to certain pitfalls when crafting their estate plan.

Common estate planning mistakes include:

Failing to Update Documents: Life events such as marriage, divorce, or the birth of a child require updates to wills or trusts. Overlooking these changes can lead to unintended distributions.
Over Reliance on DIY Forms: Generic online templates may not comply with Florida-specific requirements, leaving documents legally invalid or incomplete.
Neglecting Beneficiary Designations: Failing to name or update beneficiaries for retirement plans and life insurance policies can create conflicts with a will or trust.
Ignoring Digital Assets: Social media, email, and financial accounts may become inaccessible if not addressed in the estate plan.
Lack of Coordination Between Estate Documents: A mismatch between wills, trusts, and beneficiary forms can invalidate your intended distribution or trigger legal challenges.

Avoiding these mistakes will require periodic reviews of all estate documents and consultation with a knowledgeable attorney familiar with Florida’s unique legal landscape. By staying proactive, an individual can sidestep many complications that might otherwise surface during probate or trust administration.

Estate Planning: Frequently Asked Questions
Does Florida recognize handwritten wills?

Florida typically requires wills to be signed by the testator in the presence of two witnesses. While certain states allow holographic (handwritten) wills, Florida law is strict and does not generally validate them unless they fulfill all legal witnessing requirements.

What happens if I die without a will in Florida?

If you pass away intestate, Florida’s statutory distribution scheme governs who inherits your assets. Surviving spouses and children usually have priority, but the process can be more time-consuming and less reflective of your personal preferences.

How does remarriage affect my estate plan?

Remarriage can alter previous designations and entitlements. A new spouse may gain certain rights, particularly under Florida’s elective share and homestead laws, which could conflict with provisions aimed at children from an earlier relationship.

What are the legal requirements for a valid trust?

A valid Florida trust requires a grantor with the legal capacity to create the trust, a defined beneficiary, an appointed trustee, trust assets, and a clear intent to create the trust. Proper execution and funding ensure enforceability.

Can creditors access my assets after death?

Creditors can file claims against an estate during probate to recover debts. However, certain assets, such as life insurance proceeds payable to a named beneficiary or homestead property, may be exempt from creditor claims under Florida law.

Can an Orlando Estate Planning Attorney Help Modify My Estate Plan?

An estate planning attorney can help you modify your existing estate plan to ensure that your assets are distributed in accordance with your wishes. They can guide you through the process of updating your will, setting up trusts, creating living wills, and other types of documents needed for estate planning.

An Orlando estate planning attorney will also provide counsel about tax laws and regulations that may apply to your situation and help you make strategic decisions about which assets should be included in the estate plan.

Seeking advice from one of our experienced estate planning attorneys can alleviate the stress associated with modifying an existing plan or creating a new one altogether. The support provided by the Law Office of Erin Morse can ensure that all aspects of the process are properly taken care of so that you have peace of mind going into the future. We are ready to help with your family’s estate planning needs. Call us today at 407-900-7451.