Estate Planning | Benefits of Proper Estate Planning
Estate Planning | Many people own an estate. The word “estate” may sound intimidating, but it simply refers to the property you own. For example, your house, land, and car just to mention a few of the properties that may comprise your estate. When our loved ones pass, they leave their estates, and its affairs, behind in the hands of others. Many desire the property to be controlled in accordance with their wishes once they are no longer able to do so themselves. One may formally prepare those instructions through an attorney to ensure that this takes place as intended.
The making of these arrangements is “estate planning.” If someone fails to prepare a proper estate plan, then their estate absorbs these properties and they are subject to an expensive and time consuming process called “probate.” Funeral arrangements can be included in one’s estate plan. This will save the friends and family from the stress of burial preparations. For those wishing to leave legacies, they may give part of their property to charity by having such provisions in their plan. A good estate plan also allows one to give their properties to other people, such as friends or family members. It also reduces unnecessary taxes, so that the maximum possible value is transferred to your beneficiaries.
Good estate planning will ensure the continuity of business’ because their succession will be covered in the plan. Also, it ensures that one’s affairs can be dealt with privately and discreetly as desired. If the estate undergoes the probate process, the affairs become public record.
Don’t wait! We can assist you with all of your estate planning legal needs. Call to schedule an appointment with one of the top estate planning attorneys Tampa has to offer! Tampa office at 813-367-1500 or send us your questions online.