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What goes into an estate plan in Flagler Beach?

At Law Offices of Scott W. Spradley, we believe informed clients make the best decisions about their estate plans. That's why we want to break down complex terms and clarify confusing principles so that you make the right choices for your estate, too. Contact our office either online or at 386-693-4935 for a free consultation to get specific legal advice for your estate plan. In the meantime, here are responses to some of the most frequently asked questions we get when new clients come to our office in Flagler Beach.

WHAT IS ESTATE PLANNING?

Estate planning is a process allowing you to arrange how you want your assets to be managed and distributed upon your death. Sometimes, if you have limited assets, limited beneficiaries, and limited instructions on how to distribute your assets to the beneficiaries, planning is pretty straightforward. On the other hand, the more assets, the more beneficiaries, and the more instructions may require an estate plan that is more complex and varied. 

Generally, there are two components of estate planning with one involving the legal aspects of it and the other involving the non-legal aspects of the plan. Your estate planning attorney can help with both. Legally speaking, your lawyer will review your personal and financial situation and create documents that address the latter. Non-legally speaking, your lawyer will develop an investment strategy for retirement purposes. 

WHAT GOES INTO AN ESTATE PLAN IN FLAGLER BEACH?

An estate plan will include the documents that accommodate your specific needs. It may involve some or all of the following:

  • Last will and testament
  • Living trust
  • Irrevocable trusts (e.g., life insurance trusts, gift trusts, special needs trust, charitable trust)
  • Conservatorship
  • Guardianships
  • Asset protection from divorce, creditors, others
  • Health care directives, including medical powers of attorney, living wills, health care proxy, do not resuscitate (DNR) or do not intubate (DNI) orders
  • Succession plan for business
  • Charitable planning

WHAT IS PROBATE?

Probate is the legal process of transferring the property from a deceased person's estate to their heirs or beneficiaries. It is overseen by the local probate court.

CONTACT US TODAY

The Law Offices of Scott W. Spradley, P.A. is committed to answering your questions about Estate Planning, Personal Bankruptcy, Business Bankruptcy, General Litigation and Dissolution of Marriage law in Florida.

Contact us today at 386-693-4935 to schedule an appointment.

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