Wills and Trusts Attorney in Newberry, Florida
Most people put off writing a will for the same reason. It forces you to think about a day you would rather not think about. But the families who feel the most relief after an estate plan is finished are almost always the ones who expected the process to be difficult.
Real Estate and Your Estate Plan
Real property passing through probate can be slow and expensive relative to almost everything else in an estate. It also stays in limbo while the court process runs, which is a problem if the property needs upkeep or generates income.
There are several ways to handle it, and the right one depends on your goals.
A revocable trust holding title to the property passes it to your beneficiaries without probate and lets a trustee manage it in the meantime.
A lady bird deed, also called an enhanced life estate deed, lets you keep full control and use of the property during your life while it passes automatically at death. It is a simple tool that fits many situations.
Joint ownership and beneficiary arrangements can work, but they carry risks people underestimate, including exposure to a co-owner's creditors and divorce.
We will look at how your property is currently titled before recommending anything. Sometimes the answer is that the existing deed already does the job.
Land complicates an estate plan in ways that a bank account does not.
If a good portion of what you own is real property, the questions get harder. Do your children want to keep it or sell it? What happens if one wants each? Who pays the taxes and insurance while the estate is open? Is the property titled in a way that will let it pass without a court proceeding?
Merhar Law works with Newberry and western Alachua County residents on wills, trusts, and the deed work that goes with them. Our office is a straight drive east on Newberry Road.
Wills and Trust Services for Newberry Residents
Drafting a Last Will and Testament
Revocable living trusts, including trusts that hold real property
Irrevocable trusts for asset protection and Medicaid planning
Testamentary trusts for beneficiaries who need long-term protection
Deed preparation, including lady bird deeds
Funding trusts and retitling land, homes, and accounts
Updating documents after a sale, purchase, marriage, divorce, or death
Learn more about our legal services for Newberry, Florida residents by visiting our Attorney in Newberry, FL page.
What Your Will Still Needs to Cover
Even with real estate handled outside probate, your will does the rest. It names your personal representative and a successor in case that person cannot serve. It directs what happens to everything without a beneficiary designation. If you have minor children or grandchildren who might inherit, it should include a trust for them, because Florida forces a court guardianship whenever a minor receives more than $15,000 outright.
For more on how these documents fit together, see our Last Will and Testament page.
Why Newberry Families Work with Merhar Law
Clients throughout Newberry trust Merhar Law because we offer:
Flat fees on estate planning, including deed work, quoted before we begin
Straightforward explanations of what each document does and does not do
Attention to how property is titled, not just what the will says
Close enough that in-person meetings are easy to schedule
Home and hospital visits available
Alachua County Probate Court
The Alachua County Clerk of the Court handles estates for Newberry residents.
Our page on ways to avoid Florida probate covers what you can keep out of that process and what you can't.
Schedule a Consultation
Bring your deed if you have it handy. We can answer a lot of questions faster once we see how the property is titled. Consultations cost nothing.