Compassionate Estate Planning Lawyer in Palm Harbor, FL

Let my firm help you plan for the future

You’ve worked hard for the wealth you’ve accumulated, but will it be there when you want to enjoy it and when you want to pass it to your loved ones? Life serves up surprises and not every one is pleasant. A comprehensive estate plan can help protect your wealth so you enjoy a comfortable retirement and establish a worth legacy for your children. At Law Office of Nancy J. Oset in Palm Harbor, I am an experienced estate planning attorney who gives Florida clients the information they need to make prudent choices about their future. Whether you just need a will or a complex family trust, my firm is ready to craft documents that suit your specific circumstances and address your concerns.

A full range of estate planning tools to maximize wealth protection

How secure is your future? I thoroughly review clients’ financial circumstances and goals. This allows me to suggest estate planning tools that accomplish their objectives effectively. Solutions can include one or more of the following:

• Wills — Every adult should have a last will and testament to transfer assets to heirs, make donations to favored charities and send a final message to loved ones.
• Trusts — Some trusts can provide protection against creditors and liability claimants. They also allow you to encourage positive behavior by putting conditions on gifts to beneficiaries and scheduling payments over time rather than turning over lump sums. Many people use trusts to avoid probate when transferring assets upon their death. Placing assets in trust might also help you qualify for Medicaid without becoming insolvent if you require long-term nursing care. Finally, placing assets in trust can reduce the size of an estate to avoid losses if you are subject to the federal estate tax.
• Incorporation — If you run a small business as a sole proprietor, your personal assets are at risk. Creditors and liability claimants can go after your home and your personal savings. Incorporating your business walls off your personal assets so only your business holdings are exposed.
• Powers of attorney — Elderly individuals can protect themselves against mistakes they might make in legal, medical and financial matters by transferring authority to a trusted loved one. Powers of attorney can be drafted to address limited or wide-ranging concerns.
• Living wills and advance healthcare directives — These documents allow you to state the level of lifesaving intervention you desire in the event of an emergency and can also designate someone to make medical decisions on your behalf if you are unable to communicate. 

When looking for estate planning assistance, it’s important to consult an experienced attorney who gives personal attention to your every concern.

What is the Florida ABLE program and how does it help special needs adults?

Traditionally, parents would establish a special needs trust to assist a disabled child in adulthood without disqualifying the child from federal benefits, such as Supplemental Security Income (SSI) and Medicaid. In 2014, the U.S. Congress passed The Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act, which eases the burden on families in this situation. ABLE allows each state to offer tax-free savings and investment options for disabled individuals, their parents and concerned friends. Florida quickly established ABLE United, the state-sponsored program to advance this opportunity. When you put money into an ABLE account, it doesn’t count against your child’s eligibility for benefits, and the money goes farther because of the tax savings. If you are a parent of a special needs child, an ABLE account might be a worthwhile option.

Contact an experienced Florida attorney to build a comprehensive estate plan

The Law Office of Nancy J. Oset in Palm Harbor designs estate plans for Florida clients from all walks of life. Please call 727-510-4686 or contact me online to make an appointment.