Clients often ask to have a trust prepared, not knowing the differences between a revocable trust and an irrevocable trust. One of the most important questions to ask oneself when undertaking trust planning is what your goals are. Are they to avoid probate, to protect assets from creditors, or to...
Common Problems That Can Arise During Florida Probate
Probate is a court-supervised process that transfers a deceased person’s assets to his or her beneficiaries. Although it is possible to avoid the probate process by creating an estate plan, not everyone chooses to do so. And, unfortunately, it is not uncommon for problems to arise during probate. In this article, we...
ESTATE PLANNING TIPS: HOW TO KEEP HARMONY IN THE FAMILY
While not a legal matter, when doing estate planning an important aspect is how your loved ones will react to your choices of Executor, health care agent, power of attorney, etc. The last thing most people want is for their children or other loved ones to fight or become hostile to...
Three Key Duties of a Florida Personal Representative
A personal representative, also called an executor, is the person chosen to administer a deceased person’s estate. In doing so, a personal representative is held to the highest standard of care and must act in the best interests of the estate’s beneficiaries. Thus, the personal representative plays a key role in the...
A Guide To Organizing Your Estate Plan
One of the simple things clients can do in terms of getting their affairs in order is to make a detailed list of their assets, with account numbers, and telephone numbers, so that when something happens to him/her, family members will know where the assets are and can easily access them. ...
Modifying an Irrevocable Trust in Florida
Most people who create an estate plan include a trust of some sort. A popular and effective type of trust is the irrevocable trust. An irrevocable trust is a legal document that is generally not subject to modification or revocation upon its execution. However, there are a few exceptions that allow a...
Should Your Home Be Placed In A Trust
SHOULD YOUR HOME BE PLACED IN A TRUST
Clients often ask if it makes sense to put their home(s) in a trust. Since there are a few types of trusts which are appropriate for a home, the decision of which type is best...
Estate Planning for Florida Snowbirds
With winter in full swing, snowbirds are flocking to Florida to escape the frigid northern temperatures. Moving south for the winter requires a lot of preparation. However, one preparatory step that many snowbirds fail to consider is estate planning. As a snowbird, living in more than one state during the year can...
Why Do You Need a Will?
Clients often ask why a will is a necessary component of their estate plan. The answer is that if you die without a will, the laws of the State where you reside determine where your assets go. If you are married, approximately one-half goes to your spouse and the other...
Three Common Florida Will Provisions
At a minimum, everyone over the age of 18 years old should have a will. With a will, you can plan for the distribution of your property after death, appoint a personal representative, and make other important decisions. Although every will is different, most wills contain several common provisions. In this article,...