Important Reasons For Changing A Will
Creating a will is difficult for some people, and it may be tempting to not think of the document again after it is finalized. However, there are important times when Florida residents may need to reevaluate a will or make edits that reflect significant life changes. Children, parents or siblings may inherit an estate when […]
Pet Owners Can Use Wills To Provide For Pets In Florida
Pets are like a part of the family for many people. In fact, many individuals treat pets as if they were their children. This is why some pet owners decide to include their pets in their wills. One wealthy businesswoman, who was known for making a fortune owning hotels, famously left her Maltese dog $12 […]
Estate Planning Can Benefit Those With Modest Income In Florida
Many consumers neglect to create an estate plan because they believe planning an estate is only beneficial for those who are wealthy. They believe this because the current estate tax laws only affect a small percentage of the wealthiest in Florida and elsewhere. However, estate planning is not only designed for wealthy people to avoid […]
Will Planning In Florida Is Important, Even With A Trust In Place
A trust is used to keep assets out of probate once a person dies. This legal document places one’s assets in the control of a specific individual or entity usually chosen by the decedent. Many people in Florida and other states believe that since a trust is supposed to avoid probate, they therefore do not […]
Florida Wills And Avoiding Mistakes
Making common errors with wills can lead to a long probate process and can risk how and to whom the person’s assets will be distributed. When to write a will is not a matter of how old a person is. It is instead more relevant to what is happening in their lives.
Trusts: Estate Planning And Whitney Houston
The recent and tragic death of Whitney Houston has sparked many conversations about her life and accomplishments. Often, people with sizable estates use trusts to control when and how their wealth is distributed.
Appointing a Trustee? Consider a professional.
A trustee is charged with protecting and investing trust assets and administering those assets per the terms of the trust agreement for the benefit of the trust’s beneficiaries. See Fla. Stat. 736.0801 et seq. While this sounds like a basic premise, there are some important functions which a trustee must do in their fiduciary role. […]
Common Questions About Guardianships For Minors
For Florida parents with children under the age of 18, the naming of a guardian for minor children is an important part of an estate plan. Generally it is relatively simple to nominate a guardian and even though it may be difficult to talk about, a guardianship plan should not be put off. In this […]
What Is The Purpose Of A Florida Living Will?
A concern shared by many Palm Beach County residents is to be able to control decisions about the health care they receive and end-of-life decisions in the event they are unable to make them for themselves. State assists them by recognizing the right of a person to prepare a written declaration in which they appoint […]
Considerations When Writing Wills
Some Florida residents have the misconception that writing a will is unnecessary unless they are wealthy. This is in most cases not true, and people may benefit from having one in place no matter the size of their estates. Having a valid will can ensure that the testator’s assets are distributed to the intended beneficiaries […]