Leaving Behind Benefits for Your Family
Of American adults, between half and two thirds of them do not have a will. For some people, this is alright, but most people need a will. The people that need a will are those that care about where their money, property, and minor children go after they die. If a person without a will dies, the court makes the decision on where the money, property, and children end up. With the help of a Miami business attorney, the future of those dear to you after you are gone will be secure.
Nobody likes to think about their own mortality, but preparing for an unexpected demise is prudent. Should something unfortunate happen to you, the last thing you want to do is leave a mess of an estate for your loved ones to stress over. A few simple hours with a Miami business attorney can put your mind, and the minds of your loved ones, at ease.
A common method that commercial lawyers Coral Gables employ is the creation of a trust. A trust is a manner of estate planning that permits a trustee, who is a third party, to hold your assets if you pass away. Corporate law Miami business attorneys create trusts for a variety of reasons.
A trust created by a business lawyer miami is a strategy to control your wealth should you pass away. One of the benefits of a trust is that it helps your assets avoid probate. Probate is the legal process involving the settlement of an estate where the will is proven valid, the assets of the deceased are counted up and collected, taxes and debts of the deceased are paid, and whatever is left is distributed. A Miami business attorney can create a trust to avoid the probate process and potentially provide access to assets faster for a beneficiary.
Trusts created by a Miami business attorney can also protect the assets of a deceased person against a few different things. They are traditionally used for minimizing the estate taxes. They can also protect an estate from incompetent beneficiaries who would squander the inherited money. Plus, a trust can provide protection against the creditors of an heir inheriting assets.
When you make a will or a trust, you hope that it will not have to be used for a long time. However, using a Miami business attorney and getting it done provides protection for your estate and loved ones should you pass away unexpectedly. A few hours with a Miami business attorney can provide a peace of mind for the rest of your life about what will happen when you are gone.