Knowing what to do when a loved one dies can alleviate some uncertainty and anxiety. Death certificates will be needed for each asset owned, as well as for filing(s) with governmental agencies. If the decedent was collecting a pension or social security, the appropriate...
An Overview of Probate in Florida
Probate is the court-supervised process of administering a deceased person’s will. Although probate sometimes leads to litigation, the majority of probate cases are purely administrative. In other words, in most cases, the court simply supervises the probate process to ensure that the law is followed and that the wishes of the...
SOME TIPS ON GETTING YOUR AFFAIRS IN ORDER
There are a number of relatively easy steps which can be taken in order to simplify your estate plan, thus saving time and money for you and your family.
It is not uncommon...
Continue reading…
The Dangers of Doing a Life Estate Deed
Clients are often interested in doing a life estate deed as part of their estate plan. What is a life estate deed? It is one where the owner of the real property transfers the property to his or her children (or other family members), reserving the right to reside in...
ESTATE PLANNING WITH TIME SHARES & VACATION HOMES
Most people are unaware that having a time share can create estate planning problems. Time shares are typically considered real property, and the ownership is evidenced by a deed. As such, they are considered an asset for estate planning and tax purposes. They are used as vacation homes and...
REVOCABLE & IRREVOCABLE TRUSTS: A COMPARISON
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...
Reasons to Avoid Probate in Florida
If you fail to create an estate plan, your assets will likely have to go through the probate process after you pass away. Probate is a court-supervised process by which your assets are distributed to your heir and creditors. Unfortunately, probate has many downsides, which leads many people to take steps to...
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. ...