Estate Planning

Estate planning attorney palm coast, Florida

Estate planning can be effort-intensive and time-consuming. But not when you hire the best estate planning lawyer in town! Are you seeking a trustworthy estate planning attorney in Palm Coast, Florida? We are proud to share our estate planning knowledge to help wonderful customers like you develop a highly effective and efficient estate plan. You have landed on the right page, as here we will discuss everything you need to know about creating a legally valid estate plan and why hiring an estate planning attorney is an excellent decision. Let’s get started!

When to hire an Estate Planning attorney in Palm Coast, Florida?

What are the most common reasons people seek the help of estate planning attorneys? One might need an estate planning lawyer due to several reasons. Many of our clients already had an estate plan prepared when they were young. When they come to us, they probably need us to update or change the estate plan altogether.

Then some clients want to create an estate plan that caters to the interests of a large or blended family, minor children, or family members that require special care. However, many clients want to build an estate plan that protects the interests of the beneficiaries from family members that might contest the will.

If you own family businesses and properties, an estate planning attorney will help you create a trust, ensure the safety of your assets in foreign countries, and even help save on taxes applied to estate or inheritance. In other words, an estate planning attorney comes in handy when you must protect the interests of the beneficiaries and properties involved.

What are the responsibilities of an estate planning lawyer?

The estate planning attorneys at Mcgee Law PLLC have specialization in laws related to estate, trust, and probate. They completely understand all the possibilities, processes, and intricacies of developing an estate plan. More importantly, our estate planning lawyers are very much interested in creating or updating an estate plan considering your interests, future plans, and preferences.

Planning a Will and Testament

Will and testament are documents that help determine the future of your family members and assets upon your demise. The documents will help the court identify individuals or organizations you have set as beneficiaries. Not just that, the court might use your will to appoint guardians for your minor children.

Planning a living will

Our estate planning attorneys can help you develop a living will. This document is prepared in advance to specify your wishes and preferences and communicate them effectively in case you suffer from health issues. Such advance directives prove helpful when you are not in a situation to share your funeral preferences.

Transfers to a living trust

What if you want to transfer your assets to a living trust? Our estate planning attorneys will assist you in effectively managing your trust fund by appointing a trustee to make decisions on its beneficiaries' behalf. The attorney will keep the case from falling into probate or lengthening the legal process.

Determining beneficiaries

Do you own several bank accounts, life insurance policies, properties, businesses, or organizations? You might need us to determine the beneficiaries of your assets thoughtfully. This is an excellent way to pass the funds on to the right people.

Power of attorney documents

There might be times when you cannot make financial or medical decisions for yourself. We suggest you prepare the power of attorney documents to help the court identify people to decide on your behalf.

Understanding the basic estate planning terminologies

Trustor

A person that makes the trust is called Trustor. In most cases, you will be the Trustor — creating an estate plan to protect the interests of your loved ones.

Beneficiary

A beneficiary is a person, institution, or organization that will benefit from your estate. Identifying beneficiaries is critical to effective estate planning.

Codicil

If you have an established will, a codicil will denote an amendment, change, or addition. An addendum is required when your will needs modification, explanation, or needs to be revoked.

Decedent

A decedent is a person that has passed away and is the owner of a will, trust, or policy. This is the most important person in the estate planning legal process.

Intestate

The court uses the term "intestate" to refer to someone who passes away without an estate plan. This is when the court takes charge of the assets and determines beneficiaries.

Irrevocable/Revocable

The terms “irrevocable” and “revocable” describe whether or not an estate planning document can be changed. Our estate planning attorneys can help you determine the same.

Probate

The probate is the messy legal process court uses to distribute assets in case no estate planning document is presented. This is quite a costly and time-intensive process.

Pay of Death / Transfer on Death

POD or TOD are the accounts automatically transferred to a named beneficiary. These are simple and effective for setting beneficiaries.

What are the benefits of hiring an estate planning lawyer?

Impeccable legal knowledge

Our estate planning attorneys offer the legal experience and knowledge required to form estate planning documents. We will walk you through the procedure to ensure we are on the same page. Estate planning can be very exhausting. We highly recommend hiring our estate planning professionals for the best advice and results.

Personalized estate planning

All our esteemed clients come with different problems and issues related to estate planning. Attorneys need to understand that people have different goals and needs. We consider your preferences when drafting your trust. Our estate planning services and ongoing trust management services can be effortlessly customized.

Build instruments for philanthropy

You need our estate planning services if you want your estate planning documents to include your philanthropic side. We are experienced at building highly effective instruments of philanthropy that include various forms of charitable trusts. All you have to do is give us a call and book your free consultation!

Helps minimize taxes

You must understand the tax implications your estate planning can be subjected to. With our experienced estate planning attorneys by your side, you can rest assured that all tax implications will be considered to effectively minimize the taxes on the trusts. This will help the beneficiaries derive the most benefits.

Protects the beneficiaries

At McGee Law, PLLC, we take pride in helping people develop estate planning documents that protect the interests of their loved ones. Our attorneys will effectively administer the legal proceedings and manage your trust assets to keep the creditors away — ensuring that your heirs are well taken care of.

Estate planning for the incapable

What if you are not physically or mentally able to make decisions for yourself? An estate planning attorney in Palm Coast, Florida, will be helpful when creating a living will or determining power of attorney. With us, you can successfully manage your assets how you want in times of crisis.