Wills and Trusts

The law firm of Samuel A. Mutch, P.A. specializes in preparing estate planning documents, including the last will and testament, durable power of attorney, designation of health care surrogate, living will, and declaration of pre-need guardianship, and various trust documents.

We walk our clients through the estate planning process, from analyzing a family’s financial circumstances and goals, to educating our clients about the range of estate planning options, and to drafting and implementing the estate plan. We draft estate plans for a wide range of clients, from young families with children, retirees and seniors, and to business owners.

The attorneys at the law firm of Samuel A. Mutch, P.A. prepare the following types of documents:  

• Last will and testament where the testator designates allocation of assets and responsibilities;
• Durable Power of Attorney where the principal designates an attorney-in-fact;
• Designation of health care surrogate where the principal designate a person to handle health care needs;
• Living will where the declarant provides directives for medical care;
• Declaration of pre-need guardianship where a guardian is named in case of a future guardianship; and
• There are two basic types of trusts: revocable and irrevocable. A revocable trust can be altered during the life of the grantor (the person who creates the trust). The assets held in a revocable trust at the decedent’s death are subject to the estate tax. Conversely, an irrevocable trust generally cannot be altered after you create it. The assets held in an irrevocable trust at the decedent’s death are not generally subject to the estate tax.

Every estate plan should include a will. If the value of the estate is small, then a simple will may suffice to transfer your assets. If the value of the estate is larger and real estate is involved, it is probably better to have your assets held in trust and have a pour-over will as a back-up. This can accomplish many different goals, such as avoiding probate, lowering estate taxes, and directing the distribution of your property upon your death. If you die with assets outside of the trust, the pour-over will directs the assets to pour into the trust and be distributed in accordance with the trust’s directions.

Additionally, the Federal Estate Tax is scheduled to change each year from now until the year 2011. Under current law, the federal estate tax exemption amount is $2,000,000, and the rate is 46%. By 2009, the exemption amount is $3,500,000, and the estate tax rate is 45%. In the year 2010 there is no estate tax, and in 2011, the estate tax exemption goes back down to $1,000,000 and the rate goes up to 55%. Although Congress is likely to amend these provisions before repeal would take effect in 2010, effective planning is required to take into account whatever these estate tax rates might be.

Florida residents need to be particularly aware of the Florida Homestead provisions of the Florida Constitution and certain Florida Statutes. These rules can restrict how a primary residence can be bequeathed to heirs, and they also protect homestead property from the creditors of a decedent and the beneficiaries, in some cases.

We will explore with you all the available options to find out what best suits your desires for the future. Together, we can plan and help ensure a secure future for you and your family.

Executors and Administrators

  While our firm can help you develop an estate plan, we also assist executors and administrators in the probate process after a person dies. Probate is the judicial proceeding required to transfer title to the deceased’s heirs or beneficiaries under a will. If you are named as the executor by the terms of the will or would like to become the administrator of the estate of a family member who did not have a will, the law firm of Samuel A. Mutch, P.A. can help you to become appointed by the probate court. We can also assist you in all subsequent probate court matters and procedures until the closing of the estate.

Please contact our office to schedule an appointment with one of the attorneys of the law firm of Samuel A. Mutch, P.A. by calling (352) 378-5599 or by e-mailing us.