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A Guide to Estate Planning for Investors

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Estate plans are about investing in your future and the future of your family members and heirs. For some among us with an eye towards the future, there is the possibility of looking at estate plans to strengthen their investment portfolios. There are, after all, several estate planning tools that serve this exact purpose. And some tools that may not have had investors in mind initially can nonetheless be utilized to help you make a worthwhile investment in Florida.

Estate planning is something that all of us should take the time to do. However, far too few of us in Florida take the time to form valid estate plans. There is a natural discomfort about thinking too far into the future, including contemplating our legacies and our deaths. However, it is necessary to do so, especially if we have a beneficiary or two who depends upon us and will continue to rely upon us even after we are gone.

With well-structured estate planning investments, it is possible to help safeguard the future of our beneficiaries as well as strengthen the legacy of our lives. Our law firm has years of experience representing clients in all matters of estate law issues. This experience extends to cases of helping investors with their estate planning in the state of Florida. To learn more about our legal services, please contact our law firm to schedule your free initial consultation today.

Do You Have an Estate Plan?

At the heart of essentially every estate plan, you will find the last will and testament. The shorter version of a previous will is known as a pour-over will. This will appoint a personal representative (sometimes referred to as an executor in other states) to handle the estate after you have passed away. The duties of personal representatives include settling outstanding debts, distributing assets to beneficiaries, and closing the estate. Your personal representative should be someone you trust and someone capable of handling the role thrust upon them. The probate process can be long and complicated, so personal representatives often employ the legal guidance of estate law attorneys, especially in larger estates or estates with a great deal of wealth.

It is wise for any investor to draft a durable power of attorney. In the event that you are ever incapacitated due to illness or injury, this document allows your appointed individual to make financial decisions related to your investments, bills, and other financial matters until you are able to once again speak for yourself. Failure to establish a durable power of attorney could result in your financial assets and investments being left in a state of turmoil in the event that you are ever incapacitated.

A health care surrogate, sometimes referred to as a health care proxy or durable health care power of attorney, works similarly to a durable power of attorney. While your durable power of attorney can handle financial matters when you are incapacitated, a health care surrogate form can name an individual who makes decisions for you regarding your medical health care as well as records your personal wishes for health care if you ever become unable to speak for yourself.

Several different types of trusts, including living trusts, may prove beneficial to your investment strategy. Some types of trust provide tax benefits and asset protection and are forward-thinking in terms of investment strategies. To learn what kind of trust may benefit your case, please contact our Miami law office to schedule your free case evaluation.

Is Investing in Real Estate Property an Option Only for the Wealthy?

When you elect to invest in real estate property in Florida, you must ask yourself how much you are willing and able to invest. Ultimately, it comes down to the capital that you have at your disposal, what you hope to get in return for your investments, and what type of lifestyle you hope to achieve while awaiting a return on your investments.

Investment properties are not real estate opportunities meant only for the super-rich. There are affordable entry points to consider if you wish to buy and invest in Florida property.

Among the opportunities you should consider include the following:

  • Fixer-upper opportunities to buy and flip a home.
  • Online real estate investing.
  • Real estate investment trusts (REITs).
  • Rental investment properties.
  • And more.

Have You Established Any Asset Protection Strategies?

If you are ever sued, have a judgment made against you, or are held accountable in a personal injury case, you may find that your personal assets are at risk of being seized by creditors, courts, and other parties. Luckily, certain asset protection strategies exist for this very purpose.

While certain assets are exempt from creditors in Florida (including 401Ks, IRAs, annuities, up to $4,000 of personal assets, medical savings accounts, and homestead properties), other assets are not. Through gift giving, charitable donations, and different types of asset protection trusts, you could help safeguard the nonexempt assets from being claimed. Doing so can help safeguard your future as an investor by protecting your finances and personal property.

Schedule a Free Consultation with an Experienced Estate Planning Attorney Today

Investing in the future takes a lot of forethought, knowledge of estate law, an understanding of the markets, and usually no small amount of financial capital. At Perez-Roura Law, we have extensive experience helping clients with complex estate law cases, including those who wish to make investments part of their estate plans. Led by Pedro Armando Perez-Roura, our highly skilled legal team would be proud to assist you in your pursuit of your investments.

To learn more about how we can help you, please contact our law firm to schedule a free case review today. 305-570-3259.

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