What is Estate Planning?

Estate planning allows for the transfer of someone’s property after they die. It can involve a will, trust, or the application of state intestacy laws. Estate planning gives each person the opportunity to decide exactly who should benefit from their estate and by how much. It also prevents the estate from being destroyed by taxes imposed on the transfer of assets at the owner’s death. Your estate includes all the property you own at death before it is distributed according to a will, trust, or intestacy laws. An estate often contains both real property (including houses, vacation rentals, and investment properties) and personal property (all other property, such as bank accounts, securities, automobiles, and jewelry).

When Should You See an Estate Planning Attorney?

The services offered by Tampa estate planning attorneys aren’t just for elderly Americans. They are for adults of any age. If you have assets, you should have a plan for what will happen to them when you die. Failing to draft a plan with the help of an experienced estate planning attorney can make your death a lot harder on your family members. Dying without an estate plan will require your estate to go through a lengthy and costly probate court process, one that can be both financially and emotionally draining on those you love. Anyone with children should also meet with an estate planning attorney, as should anyone who needs to make changes to their estate plan.

Tampa Estate Planning Lawyers

At Mickey Keenan P.A., we offer a wide range of services in guardianship, elder care, probate, and estate planning. Our Tampa estate planning lawyers and staff work together to assist you. Each member of our team is dedicated, caring, and ready to help. We’re here to provide polite and helpful technical support, along with strategic advice.

We understand that everyone needs a will, but each person or family has unique needs for their estate plan. Our Tampa estate planning attorneys will meet with you to discuss your goals and needs. We’ll explore your options and create a personalized set of advance directives, trusts, and wills that fit your situation. If you have any questions or need help with Tampa probate or estate planning, you can connect with us.

Benefits of Working with the Attorneys at Mickey Keenan P.A.

A big part of what we do is focused on Tampa Estate Planning Law. We offer customized estate planning choices that match our client’s goals for keeping their assets safe and supporting their families. Many of our clients find dealing with probate confusing and stressful, no matter how old they are. Let our office help you and your family feel secure with a clear plan for handling probate.

The following are some of the many advantages of hiring Mickey Keenan, P.A. to manage your case in Tampa

With years of expertise representing clients in Tampa and around Florida, we are a reputable name in estate planning.
Testimonials from satisfied clients highlight the advantages of collaborating with our fervent litigators.
Hiring our Tampa legal company has no upfront costs, and you don’t have to pay anything unless we prevail in your case.

Our Practice Areas

Mickey Keenan P.A. Attorneys handles all types of cases in Tampa, Florida, including:

Wills and Trusts:

Everyone above the age of eighteen ought to have a thorough estate plan in place. A lawyer can draft a combination of wills and trusts to customize your strategy to your unique objectives and requirements.

A testator can dispose of property, designate a personal representative to manage the estate, and, in the event that the testator leaves behind dependent children indicate who will look after them following their death in a will. Wills must be executed in Florida according to specific formalities, which include appropriate witnessing and signing. In addition, the testator needs to be of sound mind in order for the will to be accepted. A lawyer can make sure your will is properly executed and has the clauses you want. Speak with our Tampa lawyer about estate planning, wills, and trusts today.

Probate

Probate is required before a decedent’s assets can be distributed to beneficiaries via a will or Florida’s intestacy laws. Probate is a public procedure held in the probate court where a personal representative makes sure the right individuals receive the decedent’s property and that the decedent’s debts and taxes are paid. Ensuring that each beneficiary has a clear title to the assets they inherit is the personal representative’s responsibility. Probate is a multi-step, intricate process with numerous requirements. In addition to helping to retitle assets and guarantee clean title, a Tampa probate attorney can counsel the personal representative of an estate on how to proceed with the probate procedure. You can get help from our Tampa probate attorneys.

Elder Care

Lawyers for estate planning handle more than only a person’s post-mortem asset distribution. They can also deal with matters related to elder care, such as ensuring that a person’s affairs are handled in the case of incapacity and providing comfort at the end of their life. Important instruments that a Tampa elder care lawyer might use to safeguard you in the case of a handicap or incapacity are powers of attorney and health care surrogates.

Planning a Business

It is crucial to handle the sale of your business with particular caution after you pass away because it is frequently the most valuable asset in your estate. An inefficient business plan could result in large estate tax obligations, which would require you to sell off additional assets or possibly your company to pay the taxes.

Making a family-limited partnership is one way to secure your assets if you want your company to remain in the family. This indicates that one or more limited partners and a general partner, who oversees and runs the company, are the owners. After that, you can move your assets into the partnership’s name, which will lower the amount owed in estate taxes and the value of your estate.

Tax Guidance

An integral component of any estate strategy is tax planning. The first $5.43 million of a deceased person’s inheritance was free from estate taxes in 2015. Over that amount, assets are subject to a 40% tax. By choosing portability, a surviving spouse of a deceased person may increase their own exemption amount by any unused portion of the decedent’s exemption amount, up to a maximum of $10.86 million. It is recommended to leave filing an estate tax return to an experienced attorney due to its complexity and frequent confusion.

How Much Is My Tampa Estate Planning Case Worth?

Determining the worth of an estate planning case in Tampa, or anywhere else, involves considering several factors related to the complexity and scope of the legal matter.

The value of the estate being planned will play a significant role. Larger estates with complex assets (such as multiple properties, businesses, or investment portfolios) generally require more comprehensive planning and can be more valuable cases.
Estate planning can involve various legal tools and strategies beyond a basic will, such as trusts, advanced healthcare directives, and tax planning. The complexity of these needs can impact the value of the case.
If there are legal challenges or specific issues within the estate (like family disputes, blended families, or charitable intentions), the case’s value may increase due to the additional legal work required.
The value of the case is also influenced by the attorney’s fees and prevailing market rates for estate planning services in Tampa. Attorneys typically charge based on the complexity of the case and the time and expertise required.
Cases involving significant estate tax considerations or minimizing tax liabilities can also be more valuable due to the potential financial stakes involved. Finally, the time and effort needed to properly address all estate planning aspects will affect the case’s value. This includes consultations, document drafting, review meetings, and ongoing updates or revisions.

What you Should Expect from Us?

Our compassionate approach is well-known at our Tampa estate planning law company. Estate planning isn’t just for “wealthy” or “retired” individuals. Everyone must make plans for their demise or disability; if you do not, Florida will have a fallback plan in place. Mickey Keenan P.A. Attorney is a skilled estate, probate, and guardianship lawyer who can assist you in safeguarding your family members.

Tampa Estate Planning FAQ’s

What documents are essential for estate planning?

Estate planning typically involves several key documents, including a will, durable power of attorney, healthcare surrogate designation, living will, and possibly trusts depending on your circumstances. These documents ensure your wishes are legally recognized regarding asset distribution, healthcare decisions, and financial matters.

Why is estate planning important in Florida/Tampa?

Estate planning is crucial in Florida, including Tampa, to protect your assets, designate beneficiaries, and minimize tax liabilities. Without proper planning, your estate may be subject to probate, which can be time-consuming and costly. Additionally, estate planning allows you to appoint trusted individuals to make healthcare and financial decisions on your behalf if you become incapacitated.

Do I need a trust in addition to a will?

While a will is essential for outlining your wishes regarding asset distribution, a trust can provide added benefits, such as avoiding probate, maintaining privacy, and offering more control over how and when assets are distributed. Trusts can also be useful for minimizing estate taxes and protecting assets for beneficiaries.

What happens if I die without an estate plan in Florida?

Dying without an estate plan (intestate) in Florida means your assets will be distributed according to state law, which may not align with your wishes. The probate court will appoint an administrator to distribute your assets based on predetermined rules, potentially causing delays and additional costs. Estate planning allows you to maintain control over your legacy and ensure your loved ones are provided for according to your wishes.

Call Our Trusted Tampa Estate Planning Lawyers for Help Today

The Tampa office of Mickey Keenan P.A. Attorney is one of its locations. They are also accessible for some complex estate planning cases, tax disputes, and commercial legal issues in Florida and around the country. Get in touch with Mickey Keenan P.A. Attorney for guidance and support from a qualified and experienced Tampa estate planning and tax attorney eager to assist you with your legal needs.