Estate Planning Attorney in Fort Walton Beach Discusses Planning for The Future

Gresham Foster, an estate planning lawyer with Anchors Smith Grimsley, PLC, in Fort Walton Beach, Florida, recently discussed the importance of estate planning and why planning for the future is so important. Mr. Foster states that there are a number of ways that one can plan for their retirement years and that it is never too late to get started.

“An estate planning attorney can be an invaluable resource when it comes to getting prepared for the future,” states Mr. Foster. “Someone with experience in this area will be better able to help consumers to know where they need to begin and what they can do to ensure that their golden years are truly golden.”

Mr. Foster states that consumers need to begin with a will. He states that anyone who does not have a will is simply setting their families up for distress. A legal will creates a guideline for distributing assets upon one’s death. Mr. Foster says that this document is critical when it comes to helping families to know what their loved one would want to be done with their assets.

“Something that many people fail to consider is that their families will have to work through their grief upon their death,” says Mr. Foster. “Having to determine how to distribute assets is just adding to their grief. Having a plan in place to take care of things like burial and asset distribution seriously relieves some of the stress that families go through when they lose a loved one.” USA today just recently shared a helpful article about steps to ensure the family is financially ready. Those interested can read the full article here.

Mr. Foster joined the firm in 2011 and since that time has earned his LL.M. from the University of Alabama School of Law in Taxation. He practices estate planning, trust administration and preparation, and probate.

Mr. Foster says that a trust can be very beneficial for families, as well. A trust holds property that the client wishes to leave to their family. By using a trust, families do not have to go through the legalities of probate, and the legal trust enables the client to determine precisely when and how that property should be distributed. A trust is especially important to those individuals who may own property in different states. If those properties are owned in their individual names then not only will their family have to go through the legalities of probate in their home state, but they will also have to go through some form of probate in every state which that person owned property. However, if that property was in the name of a trust then the trustee of that trust would be able to transfer those properties out of state without any legalities of probate.

Mr. Foster adds that relaying final wishes is something that everyone should consider seriously, regardless of the amount of their assets. He states that his years of experience allow him to help clients to determine how their trust should be set up and what they need to include in their trust and will depend on the assets that they own.

“No one wants to think about what happens to them or their families when they pass away,” Mr. Foster says. “Unfortunately, this is a way of life. Preparing for death is simply something that everyone needs to do, and this includes preparing one’s family for what happens after the service is over and the burial has been completed. This one act of love can significantly help to guide families in obeying the last wishes of their loved ones.”

Gresham Foster earned his Juris Doctor and certificate in Alternative Dispute Resolution from the Thomas Goode Jones School of Law at Falkner University. He returned to the Fort Walton Beach area in 2011 to commence his practice with Anchors Smith Grimsley and is currently an active member of the Okaloosa County Bar Association, as well as the Fort Walton Beach Chamber of Commerce.

Mr. Foster urges those who are not prepared financially for the future to contact the firm directly by phone or email to set up a consultation or to visit them on their website ASGLegal.com to learn more about the process of estate planning. Those who are interested in learning more about the firm can also visit ASG's Facebook page.