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Estate Planning and Probate Attorney based out of Miami, FL
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Estate & Trust Administration
What is the role of an estate planning attorney?
avoid Florida probate Court
One of the primary goals of an estate planning attorney is to avoid Probate court. Why do you want to avoid Probate court? Its simple, it is expensive and time consuming, not to mention any family conflicts that might ensue due to the inheritance.
Let me give you an example to make the illustration on why avoiding Probate court can be so significant. According to Florida law, it is reasonable for an Miami probate attorney to charge 3% for any estate with assets under 1 million. If you did not get around to creating your estate plan with a Miami estate planning attorney, and lets say you had $500,000 worth of probate assets, the typical probate attorney in Florida is able to charge you $15,000 as a reasonable fee. Not to mention that your assets will be tied up in Probate court for months, sometimes even years.
That is crazy compared to how much you would pay an estate planning attorney to create an estate plan tailored to you that avoid Florida Probate court and saves your estate and beneficiary a lot of money, time, and confrontations.
avoid federal estate taxes
With the passing of the Tax Cuts and Jobs Act of 2017, the federal estate tax impacts less individuals. This is because the unified credit or exemption amount was increased from 5.4 million to 11.4 million index for inflation. This means that in order for you to owe any federal estate tax when you pass away, your estate assets must be higher than 11.4 million dollars, and if you are married, that number doubles.
As an estate planning attorney it is my job to analyze your present situation and any future changes. The 11.4 million exemption amount for the federal estate tax is set to sunset in the year 2025. If Congress does not extend it or makes it permanent then that number will be reduced to the previous amount of 5 million index for inflation. This means that we estate planning attorneys must be vigilant to changes in the law and to our clients situation. A sudden appreciation of assets or a business deal can well of place you above the line.
Nonresident aliens who are domiciled in the United States are specially vulnerable to the federal estate tax. Unlike a U.S resident or citizen, the foreign individual only enjoys an exemption amount of $60,000. Many foreign individuals come to the U.S. and invest capital in businesses and other real estate ventures without first doing the proper planning. Passing away with U.S. property without a proper estate plan in place can be costly, sometimes even devastating, with taxes being as high as 40%. Hence why it is so important to speak to an international estate planning attorney before you invest here in the U.S.
provide asset protection for the individual and the business
Asset protection planning is also one of the major roles of the estate planning attorney. With today’s litigious mindset, asset protection planning is at the forefront of any estate planning attorney’s mind, specially here in Miami.
Luckily, we live in Florida, which is one of the States with one of the most debtor-friendly laws in the nation. Therefore, it is important to plan accordingly and before any issues arise.
Asset protection strategies in Florida utilized by estate planning attorneys usually involve the use of Florida business entities, irrevocable trusts, and other aspects of the law like tenancy by the entirety and the Florida Homestead laws.
help you think about the hard questions and being there for you and your family through the good and bad times
For the most part people come to estate planning attorneys later on in life or when they have a traumatic event (like a death in the family). My goal is to counsel you and provide you support, the last thing you want to worry about is the legal issues.
Part of being an effective estate planner is knowing the family dynamics. Not every family is the same, some are blended, others are united, and others are just in complete chaos, but that does not make them any less of a family. It is my job to confront those potential issues to maximize your intentions when you are no longer with us or in the event you are not capable of making your own decisions.
Creating close relationships is just part of the job. It makes me a better estate planning attorney.
What are the consequences of not creating an estate plan?
Florida probate court
Being an estate planning attorney makes you naturally a probate attorney as well. When someone passes away owning assets individually and without a beneficiary designation in Florida, then Probate proceedings must be opened in order to transfer your assets to your beneficiaries.
One of the biggest conceptions that I see is when people believe that creating a Last Will and Testament in Florida will avoid Probate court. This couldn’t be farther from the trust. In fact, just creating a Last Will and Testament will place your beneficiaries in Probate.
When you do not have an estate plan the first thing I analyze is what is under your name. The next question is what would you like to happen if you pass away, who do you want your assets to go to? It might be that all of your assets pass outside of Probate because they have a beneficiary designation.
If you pass away without a Last Will and Testament then Florida Intestacy Law will dictate who your beneficiaries will be. Maybe you are okay with the State of Florida picking for you and you decide not to create an estate plan. But it is my job to provide you options, give you control should you want it, and avoid Probate court altogether if possible.
Probate court as I mentioned previously can be expensive and time consuming. Often enough this is not planned and the beneficiaries see themselves forced to borrow or sell the assets being inherited. Proper planning is paramount.
miami probate attorney
Although I can help individuals all around the State of Florida, I am local to the county of Miami-Dade. I have extensive experience dealing with Miami-Dade Probate Court as well as Broward County. When choosing a lawyer, it is important to select a probate lawyer that is familiar with the judges and the local rules of the court.
Probate is completely different than estate planning. As a Miami probate attorney my job is to administer the Probate administration efficiently. Being efficient means that the Probate administration will take no longer than what it needs to be.
Unfortunately when someone comes to me for a probate matter it means that someone has passed away. It is my goal as the probate attorney to make things as simple as possible for you and your family and complete the process as quickly as possible. I know it is important for you to be able to move on.
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what sets me apart?
I am client focused
From the first interaction with my office, myself and my staff will make you feel like you are part of the family. I care about the issues that are affecting your life. I make it my priority to make myself accessible to you at all times, whether in person, by phone, or by email. An estate planning attorney should be there when you need him the most.
I use technology in all areas of my estate planning practice. Technology allows me to be more efficient with your case, which in turn reduces costs and the time spent producing documents.
Second, technology allows me to stay organized. This means that I can keep track of where your matter is at all times.
Finally, technology allows me to stay connected with you, whether through a phone call, email, or other method of communication. As a Miami estate planning attorney, I understand that your privacy is of the utmost importance and I want to make sure that your information is always kept secured.
an estate planning attorney takes care of your case from beginning to end
When you hire my office, I understand that you want the highest level of professionalism and work product. I take pride in the work that I do, constantly learning and developing new estate planning and asset protection strategies to help you achieve your goals and objectives.
no hidden fees
I understand that the decision to hire an estate planning attorney is a difficult one. Specially since the subject matter can be sensitive and emotional.
Rest assured that I am always transparent with my fees. I attempt to provide you an estimate of the fees and costs you will incur throughout my representation. I offer both flat fees and hourly billing and accept all major credit cards.
estate planning attorney alain roman
why consult with an estate planning attorney
Estate planning is not only for the wealthy, everyone benefits from having a consultation with an estate planning attorney. Estate planning has many different purposes depending on your objectives and goals.
An estate planning attorney can help you set up your affairs in a way so that your wealth is transferred to your desired beneficiaries in a way that avoids Florida probate court, protects your assets against unwanted creditors, and provides you the most control of disposition after you are no longer with us.
The one thing most people don’t foresee is that it is more expensive to not have an estate plan. As a Miami probate attorney, I can tell you that is far more costly to your estate and your beneficiaries when you don’t have an estate plan in place. Most Miami probate lawyers charge either a percentage of your assets or an hourly fee to help you with the Florida probate administration.