Pursuing Peace Of Mind For You And Your Family

Create Or Update Your Will And Learn About Trusts To Meet Your Needs

Creating a will is fundamental for any estate plan. A will spells out the wishes of the testator (the creator of the will) regarding the distribution of their assets after their death. Without a validly signed will, the state of Florida’s inheritance rules would apply. Many people have hopes and intentions for their legacies that are quite different from the state’s default provisions about who would inherit their assets.

Considering the central importance of a will in an estate plan, at Horacio Sosa, P.A., a conversation about this fundamental testamentary document is often the first step in a broader series of estate planning sessions. Contact our firm in Davie to start the dialogue at your convenience.

How One Or More Trusts And Your Will May Go Together

Many people intend to put their assets into trusts, expecting to minimize inheritance taxes and smooth the way for their beneficiaries to gain access to their inheritances with minimal trouble. However, some assets inevitably end up not being included in a trust, so a pour-over will is advisable to complement any trusts.

Your circumstances and goals will help determine which type of will and/or trusts you need to make your estate plan as effective as it can be. Let’s talk over your situation to determine which of these documents you need:

  • A simple will that states who should inherit your belongings after your death and may designate your preference of a guardian for your minor children, if applicable
  • A pour-over will to account for assets not included in one or more trusts
  • A complex will that covers complex asset portfolios, incorporates trusts into it and/or takes into account special family situations, such as inheritances for children from more than one marriage
  • A revocable trust that can help your designated trustee avoid probate
  • An irrevocable trust, possibly with the purpose of planning for Medicaid eligibility someday
  • A special needs trust to provide for a disabled family member
  • A generation-skipping trust, possibly intended to fund your grandchildren’s college educations

What Unique Situations Should Figure Into Your Will And/Or Trusts?

Are you a business owner with a succession plan to take into account? Do you hope to leave significant funds to favorite charities or organizations? Do you want to ensure that your spouse, if they survive you, will be well provided for while you also ensure that your children will receive inheritances before or after your surviving spouse’s death? These are a few examples of questions that will help us get started creating or updating your estate planning documents.

At Horacio Sosa, P.A., we can answer many of your questions and help you create or update your will and select the most useful trusts for your purposes. Send us an email inquiry or call us at 954-361-8966.