Deeb Elder Law, P.A.
As you marry, as you parent, as you age and beyond, Deeb Elder Law will be there to assist you through life's stages.


 

Deeb Elder Law, P.A.
6675 13th Ave N, Suite 2C
St. Petersburg, Florida 33710
Phone: (727) 381-9800
Fax: (727) 381-1155

 


There are many things to consider when establishing or revising an estate plan. The first two are the complexity of the estate and the decision of to whom the estate is to be distributed. An individual's estate may be a simple bank account and a few personal belongings or involve numerous bank accounts, stocks and bonds, retirement accounts, vehicles, and real estate holdings. An attorney who practices elder law and estate planning can advise and assist with drafting a proper and valid will, creating a revocable living trust, setting up an in-trust-for (ITF) designation on a bank account, establishing joint tenancy, and shifting property from individual ownership to joint ownership when advisable.

What is a will?
 
A will is a document that controls the distribution of an individual's probate assets at the time of his or her death.

Why have a will?
 
Unless other methods for asset distribution have been established, the absence of a will would cause an individual's assets to be distributed according to a Florida statute that provides for a standard distribution to certain relatives. A new Florida resident should have his or her will reviewed by a Florida lawyer to be sure that it is properly executed according to the laws of Florida.

What is a living trust?
 
A living trust, also known as a revocable trust, is an alternative to a will for the distribution of one's assets. During the owner's lifetime, property can be transferred in and out of the trust by the owner. After the owner's death, the trust cannot be revoked and the property owned by the trust is not subject to probate.

What does in-trust-for (ITF) mean?
 
It is a designation placed on bank accounts stating who will automatically receive the funds in the account at the time of the account holder's death. This may also be given "pay on death" or "transfer on death" designations.

What is joint tenancy?
 
Joint tenancy with right of survivorship is one of several ways for two or more people to hold an interest in the same property at the same time. Almost any kind of property can be held in joint tenancy, whether personal property or real property such as homes, buildings, land, and even bank accounts.

Estate planning needs are as diverse as people are different. It is advisable to seek the professional advice of a qualified attorney when considering the development of an estate plan or the modification of an existing one.

 

 

The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. All information presented on this website is general information only and should not be acted upon without professional assistance.