Plan for the people

Yes — emphatically. The most important documents in any estate plan have nothing to do with the size of your estate. Without a healthcare surrogate designation, medical providers may be unable to speak with your family in an emergency. Without a durable power of attorney, a court may need to appoint someone to manage your affairs if you become incapacitated. Without a will naming a guardian, a judge decides who raises your children. These consequences are the same regardless of how much you own. The Basic package addresses all of them.

A will directs who receives your assets after death, but it must pass through Florida's probate process — a public, court-supervised proceeding that typically takes months and involves attorney and court fees. A revocable living trust accomplishes the same distribution goals but passes assets directly to beneficiaries without probate, privately, and in a fraction of the time. For most clients with real property, significant financial accounts, or a desire for privacy, the Standard package with a revocable trust is the more effective choice. Prince Legal will advise you on which approach fits your specific situation at your initial consultation.

The Premium package is designed for clients with estates approaching or exceeding $1 million, significant real estate holdings, closely held business interests, or specific planning goals such as asset protection from creditors, estate tax minimization, long-term care planning, or multigenerational wealth transfer. It is also appropriate for clients who want to take advantage of the elevated estate tax exemption before its scheduled 2026 sunset. If you are unsure whether your situation warrants Premium planning, Prince Legal offers a consultation to assess your needs before any engagement begins.

Premium estate planning is custom-quoted because the scope of work varies significantly between clients. A plan involving a single irrevocable trust and updated core documents is materially different from a plan involving a dynasty trust, business succession planning, multiple property transfers, and SLAT creation. Typical Premium engagements range from $7,500 to $25,000 or more depending on complexity. Prince Legal provides a written flat-fee quote before any engagement begins — there are no hourly billing surprises.

This is one of the most important Florida-specific estate planning questions, and the answer depends on the type of trust. Florida law permits a primary residence to be held in a revocable living trust while retaining the homestead exemption for both property tax purposes and creditor protection — provided the trust is properly drafted with the required savings provisions. However, transferring homestead property into an irrevocable trust will generally cause the homestead exemption to be lost. Prince Legal provides a written homestead analysis before any real property transfer in every engagement.

The Tax Cuts and Jobs Act of 2017 doubled the federal estate and gift tax exemption to approximately $13.6 million per person. Unless Congress acts, this exemption reverts to approximately $7 million per person at the end of 2025. For a married couple, this means up to $13 million in additional taxable estate if no planning is done before the deadline. High-net-worth clients with estates between $7 million and $27 million have a narrow and time-sensitive window to use the elevated exemption through strategies like SLATs, IDGTs, and dynasty trust funding. Prince Legal advises clients on this planning opportunity as part of every Premium engagement.

Yes. Estate plans should be reviewed and updated as your life and financial circumstances change. Clients who begin with a Basic or Standard plan can upgrade to a more comprehensive plan at any time. Prince Legal credits a portion of fees already paid toward the cost of a more comprehensive engagement when upgrades occur within 24 months of the original plan. Clients whose estates grow, who acquire significant real estate, or who start a business are among the most common candidates for plan upgrades.