We listen, we understand, we make a difference. We are committed to the peace of mind and financial well-being of our clients, their families and their loved ones. Our estate planning team develops strong relationships with our clients, listening to their wishes, concerns and specific circumstances. Our attorneys counsel clients on their options and provide creative solutions to implement our clients’ plans. As counselors, we recognize preserving wealth for families and their loved ones is an important priority. We focus on the needs of our clients and their loved ones in designing estate plans to provide both protection and flexibility, while fulfilling clients’ estate planning wishes.
Why Clients need an estate plan:
- Clients want their wealth to be preserved for future generations.
- Some clients have family business interests that require unique planning and strategies to continue those businesses.
- Some clients have a taxable estate and need specialized tax planning.
- Some clients have charitable goals and beneficiaries which they would like to support even after death.
- Some clients have young children and would like to choose a guardian to take care of their children’s personal needs as well as their financial assets.
- Some clients are concerned about personal incapacity during life and wish to grant a durable power to a trusted advisor to help manage their assets during their lifetime, and select an appropriate surrogate individual to make decisions regarding their health
Our estate planning team can address the clients’ individual needs, and draft various documents to accomplish the their objectives, including, for example, a Last Will and Testament, Revocable or Irrevocable Trust, Durable Power of Attorney, Designation of Health Care Surrogate, and Advance Directive Living Will.
TRUST AND PROBATE ADMINISTRATION
We assist our former and new clients in implementing estate plans after death. We guide these clients’ families and their successor administrators through the legal aspects of the probate and trust administration processes. Although the administrative process may be personally difficult for clients who have lost loved ones, we make a difference in providing certainty and support through the entire trust or probate administration process.
The attorneys and staff in our Trust and Probate Administration group regularly assist the families of resident clients who have passed away. We handle ordinary administrative processes and extraordinary ones, such as elective share proceedings, claimant and beneficiary dispute resolution, some post mortem tax returns, planning and advice (including disclaimers), general tax advice, tax apportionment, tax audits, tax collection, advice regarding ongoing business or corporate matters, real estate matters, homestead determinations and special valuation considerations. To enhance the efficiency of the Florida administrative process our team works closely with our deceased clients’ other trusted advisors, such as custodial brokers, trust officers, and certified public accountants.
Our group also assists non-resident clients whose deceased loved ones owned interests in real estate throughout the state of Florida. For out of state clients, our team often works in close collaboration with the family’s out of state attorney to ensure a smooth transition of the Florida property title per the deceased family member’s final wishes.
- Consider Your IRA When Making Charitable Bequestsby Jenifer Schembri on June 12, 2023 at 5:01 pm
As most people know, funds distributed from a traditional, non-Roth, Individual Retirement Account (IRA) are subject to income tax, and this also applies to inherited IRAs. Using your IRA to fulfill your charitable goals is often a good strategy both to achieve charitable goals and to lessen the IRAs income tax burden. Lifetime Charitable Contributions
- Who Inherits My Assets If I Have No Will?by Jenna K. Meltzer on December 21, 2022 at 6:35 pm
As estate planning attorneys we are often asked, “Who will inherit my assets if I die without putting a will in place?” Many people believe that without a last will and testament (a will), the state of Florida will automatically become the beneficiary of their estate upon their death. This is incorrect. When you die
- Blalock Walters’ Estate Planning Group planned, drafted and assisted in implementing an IRA conduit trust with separate shares for a client who wished to extend the financial benefits and tax advantages of postponing outright lump sum distributions upon death to designated individual heirs.
- Blalock Walters’ Estate Administration Group has drafted and assisted clients in implementing post mortem disclaimers to accomplish transfers of assets to clients’ loved ones while minimizing estate tax consequences for clients’ families.
- Blalock Walters’ Estate Planning Group planned and implemented the assets of a $25MM estate to allow the client to provide for his family while fulfilling his commitment to the community through charitable giving.
- Blalock Walters’ Estate Administration Group created an additional $500,000 charitable gift to the local community foundation through creative post-death tax planning.
The agriculture industry is one that requires a very specialized knowledge in a number of different areas: Taxation, Labor & Employment, Environmental, Construction Litigation, Land Use, Real Estate, Family Succession Planning and Estate Planning, and Corporate Farming. Blalock Walters recognizes the specialized services needed for agribusiness, farm producers, and packers and growers. We have many years of agribusiness experience and offer sophisticated legal services that address the unique needs of the industry.
- American Farm Bureau
- Florida Department of Agriculture
- Florida Farm Bureau
- Manatee County Farm Bureau
- The Gulf Citrus Growers Association
Our integrated law practice areas offer a complete range of legal services for the auto industry, including buying and selling auto dealerships, purchasing real estate and negotiating commercial leases, title insurance, estate and succession planning for family owned dealerships and litigation defense, including defense of lemon-law cases and employment lawsuits.
The tax attorneys at Blalock Walters provide corporate formation and tax and business strategies for dealing with changes in the automobile industry to help maximize your company’s tax and financial advantages.
We help business owners plan for the single most critically important event of their lives – the inevitable transition out of their businesses. Our 7-Step Exit Planning Process will help you identify your goals and create a strategic plan.
- Minimize taxes
- Reduce transaction risk
- Increase after-tax proceeds
- Ensure that you maintain control of your company during the transition
- Protect your loved ones
Don’t make the mistake of most business owners who have not done a great deal of succession planning. Leave your business in style, after you have attained all of your specific goals and objectives.
The equine industry includes many different business interests with unique legal needs. Equine law involves the law as it relates to all aspects of horses and horse-related activities. Our team at Blalock Walters understands the unique and specialized needs of the equine industry and those passionate about their horses, and is prepared to offer the specialized services, including tax, business services, litigation, employment, immigration, land use, real estate, business succession planning, and estate planning.
Generally speaking, our team at Blalock Walters is able to provide specialized services, addressing the unique equine needs of horse owners, businesses, professionals, associations and facilities with the following:
- Preparing, review, or negotiate equine-related contracts (such as purchase and sales agreements, leases, stallion service contracts, liability waivers/releases, facility use agreements, stallion management agreements, and boarding contracts)
- Establishing businesses, including corporations, partnerships, joint ventures, syndication, or limited liability companies
- Assist with tax planning and resolving tax disputes, including “hobby loss disputes” with the government
- Real estate purchases or transactions
- Handle or resolve zoning and land use disputes
- Litigation matters involving horse related matters
Non-profits and Foundations
Assisting private foundations and nonprofit organizations in our communities has been a focus of Blalock Walters from the beginning. As nonprofits have become more sophisticated and complex through the years, and subject to increasing regulation, our estate planning, corporate, tax law, real estate law and employment law groups have effectively provided guidance and counsel to help the nonprofit environment thrive.
We provides specialized legal services in the charitable foundation and non-profit area, including:
- Formation of non-profit organizations and foundations;
- Tax exemption applications;
- Prohibited transaction analysis;
- Reasonable compensation analysis;
- Analysis and planning of corporate transactions involving tax-exempt organizations;
- Corporate governance matters;
- Real estate purchases, leasing and construction;
- Employment matters; and
- Dissolution and liquidation of nonprofits.
With many years involved in the sports industry in our communities, we offer a wide range of legal services to professional athletes and sports-related organizations. Blalock Walters works with Major League Baseball players and organizations, as well as other professional sports industries, in the areas of real estate law, land use, litigation, construction law, estate planning, tax, immigration, labor and employment, contracts, and business operations. Additionally, we assist retired baseball players with their businesses, foundations, and tax and estate planning needs that are unique to the profession. Our knowledge of the industry allows us to keep our clients informed of the significant tax and legal issues that often arise for professional athletes and ensure that we provide the highest quality of service.