Best Estate Planning Attorneys in Clearwater, FL

Estate Planning is simply a process of transferring your assets to people, charities, etc. you wish to receive those assets when you pass away. Estate Planning can take many forms: such as simply beneficiary-designating assets, titling assets jointly with another, passing assets through a Will, or passing assets through a Trust.

This is typically a Big NO. If you add a child as a co-owner or joint tenant with right of survivorship, then that child will inherit that asset if you die first. However, if that child causes an automobile accident, for example, and gets sued and loses, then your entire account could be lost in that lawsuit.

Long Term Care Planning is simply just that: planning today for your care sometime in the future. This can include financial, estate and health care planning. Usually people are referring to your future health care needs when they use the term "long term care planning." But that doesn't have to be the case.

Estate Administration generally refers to two (2) types of administration:(1) Probate Administration. This type of administration of an estate refers to the filing of a petition in the local probate court where the decedent died for the purpose of administering assets, paying claims, and making distribution of the estate assets. Probate administration is typically required for assets a decedent dies with that are titled in the decedent's name alone without any beneficiary designation. (2) Trust Administration. This type of administration of an estate refers to the processing of assets owned by a revocable or irrevocable trust or beneficiary-designated to a trust.