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How a Will Prevents Disputes Between Family Members

Estate Planning in Ponte VedraYou’ve spent a lifetime accumulating wealth – both financial and sentimental. When you pass away, you want to leave your loved ones with an opportunity for closure, not an invitation to fight over your belongings. Without proactive estate planning in Ponte Vedra, however, even the closest families can come to contention over your legacy. Fortunately, you can prevent disputes by having a clear, legally sound will on file.

Here’s how a will helps families avoid strife:

  • It Makes Your Wishes Clear – Even well-meaning relatives might not be aware of the expectations you have for what will happen to your belongings once you’re gone. A will lays out your exact wishes in one place that’s accessible to all relevant parties, avoiding animosity because of confusion or misinterpretation over the years.
  • It Allows Enforcement – If any part of your plan for your property isn’t in line with what every member of your family desires, you run the risk of various individuals using the courts to override informal declarations of your intent. By making your wishes clear with a will, you give intended recipients the legal grounds to contest any challenges.
  • It Avoids Court – In cases where no will is present, and family members argue over claims to a loved one’s belongings, the only recourse is often an expensive court battle. A will keeps your family focused on finding closure, not filing lawsuits.
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How a Trust Can Strengthen Your Estate Plan

Putting together an estate plan can be intimidating. However, to navigate these concepts, a basic understanding can help guide you through it. A trust can strengthen your estate plan, and it is not only for the wealthy. People of all incomes can utilize trusts as part of their estate planning in Ponte Vedra.

The Benefits of Using a Trust

Probate avoidance: By using trusts, you can avoid the lengthy and costly probate portion of a court proceeding.

Tax reduction: A trust can help the person who wrote the will reduce the estate and gift taxes that are applied to their estate.

Disbursement control: One of the biggest benefits of a trust is that it allows you more control over asset disbursement than standard wills. Trusts also prevent the beneficiary from eroding their inheritance due to poor financial decisions. You can also schedule when the funds are dispersed to your beneficiaries, such as after graduation or when they reach a certain age.

If you need assistance with your estate planning in Ponte Vedra, look to the experts at Baron Bartlett, P.A. Our team will help you plan accordingly so you can have peace of mind knowing your estate is in order. Reach out to us today by calling (904) 285-9993 to schedule a consultation.