By: Renee L. Dial, Esquire
Everyday we hear about someone famous and the internal family fights after the person has passed. Most recently Casey Kasem and the fight between his children and his second wife. Then, Phillip Seymor Hoffman and the fact that he did not want his children to become trust fund babies. The way to avoid most of the infighting between your family members is to properly plan for your estate and in the event you become injured or ill.
The most common estate planning device is a will. Wills are great as a catch all for items or persons that were not contemplated by a substitute such as a trust or other device. Wills are important tools for planning your estate but a will does not take advantage of certain tax implications and the estate still has to be probated.
Probate means that there will be court costs, attorney’s fees, and personal representative fees. Probate also means a more lengthy process before the estate passes to the people you intend it to pass to. You do not want to see everything that you worked and saved for being swallowed by estate fees and taxes.
If you have gone through a life changing event such as a divorce or the birth of a new child or grandchild you may want to review your estate documents.
If you have questions regarding planning your estate, probate, or to update a will in Melbourne, Palm Bay, Patrick Air Force Base, Cocoa, and the beaches. Or if you have any questions regarding automobile accidents, personal injury, or insurance coverage on your auto or motorcycle please do not hesitate to contact Renee L. Dial or another DKN Legal attorney at (321) 329-5449. Press 4 for new clients.