Give the Gift of Asset Protection to Your Family This Holiday Season
Brandon, FL (Law Firm Newswire) December 14, 2011 - It might not be something your children can pull out from under the tree and unwrap this holiday season, but the gift they may appreciate the most is the gift of asset protection.
“With family as the focus of so much attention during the holidays, it’s a natural time to consider their financial security,” said Brandon estate planning attorney Reginald Osenton. “No matter what age your children are, the time is never wrong to plan for the future.”
Even though most people tell their loved ones how they want their estate managed when they are gone, the only way to ensure it is done correctly is to put it in writing. “We put together plans for families so that when the time comes, everybody is taken care of exactly the way you want,” Osenton said.
A properly drafted estate plan with a qualified attorney will save your family money in the long run in future taxes, legal fees and other costs. It can truly be a holiday gift that will pay for itself.
Too many families are consumed by unnecessary stress and tension when it is time to divide an estate. Careful planning can eliminate all of the finger-pointing and he said, she said. “I have seen families fight over the smallest things. And it all could have been avoided if it had been planned out before hand,” Osenton said.
While a detailed will is the cornerstone of a good estate plan, health care issues can be handled before they arise as well. A power of attorney and a health care surrogate designation will let you determine now who will be making the decisions if you become incapacitated.
Estate plans also should include trusts to save taxes, minimize probate and plan for young children.
“There isn’t a more heartfelt gift to give your family at the holidays,” Osenton said. “A quality estate plan will put your family in good shape for years to come.”
Osenton Law Offices handles wills, estate planning and trusts. With its principal office in Brandon, Osenton Law Offices handles probate cases throughout Florida.
Osenton Law Office, PA
500 Lithia Pinecrest Road
Brandon, Florida 33511
Call: (813) 654-5777
- Why you may need a parental power of attorney
If you are the parent of young children, you may occasionally need to leave them in the care of a close friend during a quick business trip, or perhaps with the grandparents while you take a kid-free holiday. Or, you may routinely leave your children in the care of a nanny. When and if you […]
- Special Limits on Wage Garnishment
In a previous blog post, http://www.brandonlawoffice.com/2016/06/heres-how-much-of-your-wages-can-be-garnished-to-pay-your-debts, we covered the broad limitations that federal and state laws place on wage garnishment. Wage garnishment is when a creditor sues you to have part of your income diverted directly to them to pay your debts. There are certain general limitations on how much of your income may be […]
- Here’s how much of your wages can be garnished to pay your debts
If you do not pay your debts, your creditors may try to take a portion of your income directly from your employer. This is called wage garnishment. Fortunately, there are limits to how much of your income may be garnished so that you can hopefully keep paying your basic living expenses. The limits are based […]