Answers from Weaver Loveless Law
At Weaver Loveless Law, we understand that many of our practice areas involve complex processes and ever-changing laws. Our Lake Wales attorneys strive to educate clients on the legal matters they face. We encourage you to read our FAQ to find answers to questions you may have about your case.
When is the right time to create a will?
Because life is unpredictable, it’s never a bad time to create or update your will. It’s a common misconception that you should wait until old age or until you have amassed a certain amount of assets to start drafting a will. In reality, it’s a good idea to have a will in place early on so that you are prepared for whatever life might throw at you. You should also stay on top of updating your will, especially after significant life events like marriage, a death in the family, a divorce, etc.
What is the benefit of a trust?
By establishing a trust, you can place assets aside for a beneficiary so that they can easily receive them upon your death. Trusts are a useful tool because they do not require probate. The assets in a trust can also increase in value over time to the beneficiary’s benefit.
Who has to handle probate?
In most cases, the executor (who is named in the decedent’s will) is responsible for taking charge of the probate process. If there is no will or no named executor, the probate court will choose an administrator to perform the job.
Should I avoid probate? If so, how?
It’s true that probate can be a long and complex process. The reality is, however, that probate often cannot be avoided if you wish to transfer ownership of certain assets from the decedent to beneficiaries. Smaller estates may be able to take advantage of simplified procedures, but more complex estates will likely need to complete the probate process – though having a revocable living trust in place can help even large estates bypass probate.
When should I reach out to an elder law attorney?
There is no right or wrong age at which you should start planning for the future with an elder law attorney, but many people begin the process around age 60. Waiting too long to start planning can lead to problems should your health decline unexpectedly or should you experience some other kind of significant change.
When you meet with our elder law attorney at Weaver Loveless Law, we can review your options and help you determine how best to protect your assets and plan for end-of-life care. We’ll make sure you are aware of all your options while educating you on what might be in you and your family’s best interests.
How can an attorney help with the purchase or sale of real property?
Real estate transactions are undoubtedly complex. They are also some of the largest and most significant transactions a person can complete in their lifetime. Without extensive knowledge of the laws that govern these transactions and your rights as a buyer or seller, you could be prone to making mistakes or decisions that are not necessarily in your best interest. With a skilled attorney on your side, you can confidently navigate the transaction knowing that someone is there protecting your rights and interests. An attorney can also help you avoid unnecessary delays or expenses.
Get the legal guidance you need by calling Weaver Loveless Law at (863) 657-0770.
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