Wills, probates, and trusts can often be very confusing subjects when it comes to estate planning and anticipating what the future may bring. Any assets titled in your name or directed by your will must go through your state’s probate process before they can be distributed to your heirs. (If you own property in other states, your family will probably face multiple probates, each one according to the laws in that state.) A will provides your instructions, but it does not avoid probate. With rare exception, probate files are open to the public and excluded heirs are encouraged to come forward and seek a share of your estate. In short, the court system, not your family, controls the process.
Our Jacksonville attorneys are experienced in providing legal counsel in long term planning and guidance in the areas of estate planning, probate matters, and trusts.
For these reasons a revocable living trust is preferred by many families and professionals. It can avoid probate at death (including multiple probates if you own property in other states), prevent court control of assets at incapacity, bring all of your assets (even those with beneficiary designations) together into one plan, provide maximum privacy, is valid in every state, and can be changed by you at any time. It can also reflect your love and values to your family and future generations.
Unlike a will, a trust doesn’t have to die with you. Assets can stay in your trust, managed by the trustee you selected, until your beneficiaries reach the age you want them to inherit. Your trust can continue longer to provide for a loved one with special needs, or to protect the assets from beneficiaries’ creditors, spouses, and irresponsible spending.
We provide long term planning and guidance in the areas of estate planning, probate, and trusts:
- Simple wills, power of attorneys, living wills, healthcare surrogates, and pre-need guardianship designation.
- Simple revocable trusts, all the way to complex or custom tax advantaged trusts.
- Probate matters, from single asset home to large estates in multiple states.
Let the attorneys at the law firm of Grigaltchik & Galustov, P.A., help you plan for whatever the future may bring. Call us today at (904) 701-7180.