Can an Irrevocable Trust be Modified Under Florida Law?
The short answer to this question is yes. What is an irrevocable trust? It is a trust document that generally is not subject to revocation or modification, once executed and funded. There are exceptions which may permit the changing of the terms of an irrevocable trust. The Florida Trust Code, Chapter 736 of the Florida […]
No Contest Clauses are Unenforceable in Florida
Sometimes testators include no contest clauses in their estate planning documents, thinking that these will help ensure their wishes will be honored after their death. No contest clauses, or “in terrorem clauses”, basically serve as a deterrent to a beneficiary of a will or trust, who might otherwise seek to challenge the terms of the […]
Tortious Interference with an Expectancy
Tortious interference claims occur when one commits tortious conduct in an attempt to deprive or interfere with the inheritance of another, such as by way of fraud or duress, which interferes with the inheritance or gift going to whom the decedent had intended. In such an instance, if the third party was successful in not […]
Void or Lapsed Devises
What To Do With Old Wills Updating your estate plan every few years, and particularly after a big life event (such as death, divorce, having a child, etc.), is most often an estate planner’s recommendation. That being said, people do not always follow those recommendations. Sometimes wills which are 10 or more years old are […]
Unclaimed Property and Florida Probate
Unclaimed or abandoned property refers to financial assets which have not had contact with its owner, are unknown or lost, or have been left inactive or not generated any activity by its owner, or are otherwise somehow unclaimed or abandoned by its owner. Some common types of unclaimed property include bank accounts (both checking and […]
Estate Planning In Florida Should Include Digital Assets
One must consider a variety of factors when planning an estate. Individuals in Florida and elsewhere will have to decide what they want done with their money and their property. Some of the assets which need to be dealt with include real estate, vehicles, stocks and bonds along with personal items. However, assets which are […]
Pastors In Florida And Elsewhere Neglect Estate Planning Needs
Pastors of the Southern Baptist Foundation are usually more concerned with their spirituality rather than the worries of the physical world. Although this is commendable, this may have also caused many pastors in Florida and elsewhere to neglect doing any proper estate planning. A survey recently found that almost 40 percent of pastors in the […]
Pets Are A Concern For Some During Estate Planning In Florida
Most people plan their estates with their family and close friends in mind. They want to make sure their loved ones are taken care of. However, one ‘loved one’ which is commonly overlooked during estate planning in Florida and elsewhere is the family pet. With the onset of the recent Hurricane Sandy, many people have […]
Business Owners Should Take Advantage Of 2012 Estate Planning Law
Financial experts are now saying that it may be a good time for people to consider planning their estates if they have not done so yet. Estate planning laws are currently ideal for asset protection and transferring wealth while avoiding taxation. Business owners in Florida who are near the end of their lives and are […]
Advanced Estate Planning For Florida Property
Many people move to Florida to retire. As a result, Florida has become a national hotbed for probate and estate planning. Several Florida property owners seek to structure their estate plans in order to allow assets to pass more easily to beneficiaries with the advice of area law firms. Some professionals suggest first creating a […]