The Story of Aust Law Firm

During your lifetime, you will own assets. When you die, your “estate” will include everything you own. This could mean the obvious tangible things such as a home, car, bank accounts, retirement accounts, collections, and intangible items such as digital assets or intellectual property.

Estate planning is the process of deciding what to do with your assets upon death. It usually includes a comprehensive package of documents that have been prepared based upon your individual estate plan purpose. The documents are designed for protection of you, your loved ones, and family. These documents typically could include a Living Will, Revocable Trust, Power of Attorney, Healthcare Surrogate, or other legal document like for Final Arrangements.

Estate planning not only provides the ability to direct how property will be distributed after your death but it also affords the opportunity to decide how assets will be managed if you become incapacitated or for whatever reason are unable to do so yourself. By way of example, if you die without a will, the State will decide on someone to administer your estate. This single decision could result in additional expenses charged against your estate property.

We strongly recommend consulting an attorney that practices estate planning for the drafting and review of these legal documents such as a Will. We would caution you on using “Will Kits” or online document preparation companies. First, they are not able to provide legal advice. Only an attorney could provide legal advice. Wills are governed by state law, which often changes. Most of the online document preparation Wills are drafted to be generally used in multiples states. The execution of a Will in Florida or Texas, for example, is specific for its validity. If a Will is not properly executed in Florida, it will have the same effect as not having a Will according to the Florida Probate Court.

Our Estate Planning Services include:

• Last Will & Testament
• Trusts
• Powers of Attorney
• Living Will
• Healthcare Surrogate
• Final Arrangements
• Special Needs Trusts
• And more!

Probate refers to the court process to transfer assets of a decedent (their estate) and settle the decedent’s debts. Transfer of assets would be persons named in the decedent’s Will. However, if the decedent died without a Will, the assets would be transferred based on state law. As far as settling debts, the Probate process also determines which of the decedent’s creditors should be paid. Additionally, the Probate process finalizes tax payments and filings with the Internal Revenue Service.

With proper Estate Planning, Probate can be avoided. By way of example, assets titled to a Trust or with a named, living beneficiary can avoid probate. Specific titling on real estate deeds as well.

In Florida, the Probate Code outlines three types of probates which are determined by the total value of the assets of the estate. These are Small Estate Administration, Summary Administration, and Formal Administration. According to the Florida Probate Code, Summary Administration and Formal Administration requires an attorney.

Services include:

• Probate Administration

Are you a new or established business?

If you are seeking to establish a new business entity, our firm will help you not only decide which entity structure is best but also advise you as to how to protect your personal assets from company liability.

Our firm routinely assists established businesses in maintaining compliance with local, state, and federal laws. This includes helping with corporate formalities, a measure taken for liability protection. More specifically, our firm helps lay a foundation for your successful business by providing well-drafted contracts, agreements, other documents needed.

Are you purchasing Real Estate?

If you are purchasing property, we can provide representation in reviewing the contract.  Why not have your contract reviewed by both an experienced licensed attorney and real estate professional.

We handle the following:

• Corporation and LLC Annual Compliance
• Business Succession Planning
• Real Estate matters
• Asset Protection
• Formation 
• Operating Agreements
• Corporate Minutes
• Drafting and Review

What is Guardianship?

This is the court process to remove the rights of an incapacitated person and transfer the rights to someone willing and able to handle the decisions for them.  An incapacitated person is someone who due to accident, illness, age or infirmity is unable to make their own financial and/or personal care decisions.

Can Guardianship Be Avoided?

ABSOLUTELY! If your loved one is able to understand and sign incapacity documents before becoming completely incapacitated, your family can avoid the unnecessary expense and time of obtaining Guardianship.

What if Your Loved One is Already Incapacitated?

Incapacity documents are no longer an available option but the Guardianship process is and consists of a two-step process.  The first phase is to determine the person's level of capacity by a 3-member evaluation team appointed by the court to interview the loved one.

Phase two is the process of determining if the proposed Guardian is qualified to serve and is determined by the Guardianship application, fingerprint card, FDLE background check and a court hearing.  Once Guardianship is established, Letters of Guardianship are issued which empower the Guardian to make decisions for the incapacitated person.