As more and more people continue to generate wealth and acquire assets in the current times we are living in, the need to have a plan on how these estates will be managed becomes very important. Estate planning is all about making sure that individual and family properties and wealth is properly managed and passed down from one generation to the next. Lack of planning or poor planning can result to enormous losses being incurred by the owner of an estate or the family or individuals destined to inherit the subject estate.
A Fort Lauderdale Estate Planning Attorney is therefore a legal professional who has the right skills, knowledge and experience to assist you to manage your wealth and assets for the future to come. Such a professional is not just an ordinary attorney or lawyer. An estate planning attorney has undergone special training in handling estate management and transition issues. They are equipped with the relevant knowledge on all legal matters pertaining to estate laws in Fort Lauderdale.
Hiring a professional estate planning attorney in Fort Lauderdale obviously comes with its own perks and benefits. Here is a brief look at a few of those benefits:
One of the most significant benefits of using an estate attorney is incurring huge savings in taxes paid to the state and federal government. You can save a lot of money that would have been deemed as tax payable to the authorities by simply hiring a competent estate planning attorney. Basically, assets that are related to companies and corporations such as stocks can be easily converted into gifts that can be passed on to friends and family with reduced tax. Gifts are not usually counted as part of your estate and this makes it to lower the value of your estate thus decreasing the amount of property that you have to pay in the long run.
Will and Inheritance
Your Lauderdale estate planning attorney can also help you to come up with a legal will that can be held up by a court of law. A will is supposed to dictate who gets what after you are gone or unable to control your estate. Your estate can be left in grave danger if a legal document such as a will is not present to stipulate who of your family members, friends or colleagues are meant to be the heirs or next of kin of your estate.