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www.SouthwestOrlandoBulletin.com x October 18 — 31, 2018 x 7<br />
Don’t Be A Probate Statistic<br />
by: Kristen M. Jackson / Attorney<br />
Most people believe that<br />
when they die, their spouse<br />
or children will automatically<br />
inherit their assets.<br />
If they have no children,<br />
they believe their assets will pass immediately to their closest living relatives<br />
so that having a Last Will or other form of estate planning is simply<br />
unnecessary.<br />
Nothing Could Be Farther From The Truth.<br />
In Florida, like most states, whether you have a Will or not, in order for<br />
your assets to be given to your heirs, such as children or others you wish to<br />
receive an inheritance, a probate court proceeding is usually required.<br />
What are Assets? They include everything you own of value, such as<br />
real estate, personal items, bank accounts, investments, cash, cars and boats.<br />
What is a Probate Court Proceeding? Probate is a legal process, also<br />
known as estate administration that takes place after you die. The court<br />
oversees the payment of your debts and distribution of your assets, whether<br />
or not you have prepared a Will.<br />
Unfortunately, in most cases, an attorney must be hired to request<br />
approval from the probate court to distribute your assets according to your<br />
Will, or by state law if you have no Will. At least by preparing a Will you<br />
give the court and attorney a road map of how you want your assets to be<br />
distributed. Without a Will, the court and the attorney must follow state law<br />
to distribute your assets.<br />
Before receiving any inheritance at all, your heirs must pay for<br />
attorney fees, court costs, publication fees, and more. These costs could<br />
be as much as 6% of the total sum of your assets, or higher. Will your<br />
loved ones be able to afford these costs? Often they cannot resulting<br />
in loss of properties to foreclosure, and assets such as bank account<br />
funds and insurance inheritances that end up in the repository of the<br />
state of Florida.<br />
And the probate process takes time: It may take 6 months to<br />
2 years, or even longer, for your heirs to receive their inheritance.<br />
Wouldn’t it be fantastic if your assets could be distributed immediately<br />
after you die without the need for courts or attorneys? It is possible. A<br />
Revocable Trust is one way.<br />
What is a Revocable Trust? Unlike having a Last Will or having<br />
no will at all, a Revocable Trust can eliminate the need for probate.<br />
Your assets can be distributed immediately without any need for courts<br />
or attorneys.<br />
Statistically, 55% of people don’t prepare a Will and of the other<br />
45% that do, only 1 out of 10 prepares a Trust.<br />
Don’t become a statistic and leave your family or loved ones<br />
facing the high cost of attorneys and court fees for probate after you<br />
die.<br />
Wait no longer. Contact an estate<br />
planning attorney today and avoid becoming<br />
a probate statistic.<br />
Legal Areas of Practice<br />
By our Team of<br />
Attorneys<br />
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Pre-Need Guardians, Trust Administration, Pet (Animal) Trusts<br />
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With or without a Last Will, in order to obtain assets, pay debts and taxes<br />
and distribute remaining assets to the heirs or beneficiaries, the deceased’s<br />
estate requires the assistance of an attorney to manage the court supervised<br />
administration.<br />
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Review, Contract Preparation<br />
(407)363-9020<br />
www.JacksonLawPA.com<br />
Offices: Orlando<br />
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Kristen Jackson<br />
Attorney At Law