While many people are aware of certain types of lawyers in Florida such as those practicing personal injury, family law, and criminal law, far fewer are familiar with an area of law known as Estate Planning.
An estate planning lawyer in Jacksonville, Fl. can assist a client in many different ways. However, before the various types of work an estate planning lawyer can provide, it is imperative to understand what this topic of law covers. Generally, an estate planning lawyer assists a client in arranging for the distribution of property and assets after their death but in such a way that the person receives any applicable advantages while still alive. Specifically, the lawyer will assist the client in reducing taxes on the assets and income now as well as when it passes to their heirs in the future.
The estate planning lawyer in Jacksonville, Fl. will most often look first to the creation of a will directing where and how the assets of a person are to be distributed upon their death. However, before the will can be completed the lawyer will also want to examine the possibility of gifting a portion of the estate prior to death, which can offer tax advantages, as well as the potential for creation of one or more trusts to protect the assets from creditors, from the government, and, often, from the heirs themselves who may be tempted to spend any inheritance without planning for the long term.
The attorney working on the estate planning may also offer the client the opportunity to create powers of attorney, in the event they become disabled and unable to make decisions prior to their death, directives to medical providers regarding their desire as to be placed on life support, and even a designation of who they would want as a guardian in the event they become incapacitated for a long period of time.
