Estate Planning

Jerry B Wells Orlando Probate Lawyer

Many people tell us they are not exactly sure what Estate Planning entails. Some clients believe that Estate planning only concerns people with great wealth. Other clients believe it’s something you do just before death. Neither idea is correct. Your estate plan should begin now to create an orderly transfer and disposition of your funds and assets into the future.

Estate Planning Tools

  • Simple or Complicated Last Will and Testament
  • Revocable Trust
  • Revocable Living Trust
  • Irrevocable Trust
  • Durable Power of Attorney
  • Living Will
  • Healthcare Surrogate

Visit our office and we will discuss your needs and wishes and any of these items can be prepared and tailored to your exact needs and wishes. Most of these items can be changed or modified in the future as your needs and wishes change in the future.

DIVISIONS AND TYPES OF ESTATE PLANNING

What are the Divisions and Types of Estate Planning?

  • A. Tax Planning
  • B. Incapacity Planning
  • C. Charitable Planning
  • D. Inheritance Planning
  • E. Special Needs Planning
  • F. Legacy Planning

A. Tax Planning
simply means what it says. We, together with you, arrange your assets in such a way that when you die you avoid paying Estate taxes. This is usually done in conjunction with your CPA or the accountant in charge of your usual tax liabilities.

B. Incapacity Planning
involves arranging in advance plans to keep you in charge even if you can’t do the day to day finances required, such as when you are hurt or suffering from a long term illness.

C. Chritable Planning
means giving a small gift to your local animal shelter up to a large amount to fund a charitable foundation.

D. Inheritance Planning
is the area where you provide for your spouse, children, and grandchildren to receive your assets when you die. You can establish conditions and circumstances to occur before the gift is given.

E. Special Needs Planning
is done by parents who have children with disabilities. This often involves many of the following:

  • How do you leave funds for the benefit of the child without causing the child to lose important public benefits?
  • How do you make sure that the funds are well managed?
  • How do you make sure that your other children are not over-burdened with caring for the disabled sibling, and that any burdens fall relatively evenly among the siblings?
  • What is fair in terms of distributing your estate between your disabled child and your other children?
  • How do you make sure there’s enough money to meet your disabled child’s needs?

Call us today to discuss your exact needs and wishes.