Why You Need a Miami Estate Planning Law Firm
People will have various wishes and needs as they both grow older or after they pass away. The area of estate planning is expansive and goes beyond just a will, While a will is a vital part of estate planning, there are also other reasons why you would need an estate planning attorney. For example, estate planning includes decisions that are made about healthcare as they become necessary. This could be a living will. Estate planning could also cover decisions that need to be made about the care of minor children. Further, it could also encompass placing assets in a trust to facilitate long-term care without being a drain on your assets. Of course, an estate planning attorney will also work with you on your last will and testament and any trusts that are necessary to carry out your financial wishes.
Your assets are continuously under threat from various people who may have the ability to take them as either judgements in a legal proceeding or as repayment for debt owed. Asset protection solutions can range from establishing various corporate forms such as an LLC to putting into operation foreign trusts to move your assets offshore. The critical pieces of asset protection are both the fact that the plan needs to be in place before the crisis hits and the necessity that the plan is flawlessly structured to provide the maximum effectiveness. An asset protection attorney is a must as the plan will likely cross over multiple areas of the law that are difficult to understand for the average person without a complex legal background.
One of the worst nightmares for a family is to find out after a loved one has passed that they did not have an estate plan in place to govern the transfer or disposition of their assets. When that happens, the estate goes through a process called probate where the court will divide the assets after notice is given to all interested parties of the proceeding. Probate is a difficult process that takes time and can be costly and contentious. Going through probate without legal help may delay the process and jeopardize the financial interests of the family. A Miami estate planning attorney can advise the beneficiaries on how to best protect their financial issues during probate and can make best efforts to get the estate through probate as quickly as the law will permit. The probate process is intimidating, but effective legal assistance can help it go slightly smoother.
As your loved ones age, they lose the ability to make certain decisions for themselves as their cognitive abilities decline. Combined with the fact that there is an unfortunate pattern of financial abuse of seniors, your loved one may need certain protections to make sure that they are not taken advantage of and their assets are preserved. In addition, there may be other decisions that will need to be made on the senior’s behalf such as legal decisions or other health and welfare decisions. An estate planning attorney can assist with appointing a guardian or conservator for your loved one. A guardian will make decisions about the health, safety welfare of your loved one such as medical care or living situations. A conservator will attend to the senior’s legal and financial matters and will look out for their interests and make sure that they are effectively represented. These require a legal process that must go through the courts in order to be put in place.
Blake Harris Law has experience in all of these areas and can handle all of your asset protection and estate planning needs. They can work to both protect your assets and help you devise a plan for your family's financial future. They have worked with individuals of all net worths to help them develop effective solutions to both estate planning and asset protection. Contact them today to find out how they can help you protect and secure your family and loved one’s financial future.