Share

Gainesville Florida Estate Planning & Elder Law Blog

Monday, February 1, 2016

Do You Need An Estate Plan?

 

A lot of people believe an estate plan is not necessary. More than half of Americans fail to have a will and an even smaller number has an estate plan in order. Estate plans are extremely important when it comes to distributing your assets, leaving legacy wishes and help your family pay less in taxes and court costs.

Many people believe that a will and an estate plan are the same thing. There are differences and in the end not everyone needs an estate plan. Here are some questions to help you get started: 

  1. Are there children involved?
    1. an estate plan may be necessary if a minor child will be receiving assets
  2. The size of the estate and the state of residence
    1. if an estate exceeds the estate tax exclusion, an estate plan may be necessary
  3. Can your 401k be stretched?
    1. If you’re leaving money to a child or grandchild who is significantly younger than you, an estate plan is necessary so that tax-deferred or tax-free growth can be taken into account
  4. Is privacy important?
    1. if privacy is your top priority, an estate plan is a better option than a will
  5. Would you like money to go to charity?
    1. Charities can be named recipients in estate plans
  6. Do you need to pass on a business?
    1. transferring business assets is more organized and detailed in an estate plan
  7. What is your current stage in life?
    1. there is no specific time that is best to start an estate plan, but a new parent should heavily consider it
  8. Are there special circumstances in your family?
    1. blended families and families with disabilities should consider an estate plan, it would be much easier to draft with an elder law attorney

Archived Posts

2019
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013



The Law Office of Sam W. Boone, Jr. assists in Gainesville, Florida and the surrounding counties.

*The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.*

* I have read and accept the disclaimer **


The hiring of an attorney is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. Additionally, the comments, statements and articles contained herein are general in nature and should not be relied upon as a basis for any legal opinion, action or conclusion on the part of the reader with respect to any particular set of facts or circumstances.

© Sam W. Boone, Jr., P.A. | Disclaimer | Law Firm Website Design by Zola Creative



© 2019 Sam W. Boone, Jr., P.A. | Disclaimer
4545 NW 8th Avenue, Suite A, Gainesville, FL 32605
| Phone: 352-374-8308

Estate Planning | Advanced Estate Planning | Elder Law | Special Needs Planning | Probate / Estate Administration | Asset Protection | Guardianships | Pet Trusts | Planificación de Bienes | Planificación Avanzada de Propiedad | Reviews | About Us | Resources

Attorney Web Design by
Amicus Creative