Fiduciary duty describes the expectations of the individual who is acting in the benefit of another. The acting individual, or fiduciary, has the authority to act on behalf of another person or entity. They have the legal and ethical obligation to act in that party’s...
Trust And Probate Administration
Securing a relative’s home during probate
An executor has a duty to maintain property and other assets to prevent them from suffering damage or destruction before they pass to beneficiaries. If you serve as executor for a deceased family member, you may find this is especially true for the home your loved one...
Understanding settlement negotiation of estates as a beneficiary
Navigating estate settlements as a beneficiary requires familiarity with legal rights and the necessary negotiation skills. These are crucial for protecting your interests and reaching a fair resolution. Here are some key points that you should be aware of as a...
What happens to probate if the executor steps down?
While it is ideal for a probate proceeding to run as smoothly as possible, it is sometimes unavoidable to face some obstacles along the way. Common issues include missing documents, will contests and other disagreements among heirs. However, there is another issue...
How public is probate?
The contents of your will, from creditors you owe to chosen beneficiaries, are deeply personal matters. You realize the importance of maintaining their confidentiality until your executor needs to step in. However, this privacy is short-lived. Once you pass, the...
What are the tax-related duties of a personal representative?
When making plans concerning your estate, you could already have someone in mind as the personal representative. This person conducts tasks on your behalf, affecting the estate you left behind after death. This role has an extensive list of duties, including...
What are some common myths about probate administration?
Probate administration, the legal process of settling an individual's estate after their passing, often carries a veil of mystery and misunderstanding. Dispelling some prevalent myths surrounding probate administration can help you feel more in control during this...
What is the difference between formal and summary probate administration?
In Florida, estates can either go through formal or summary probate administration. This might be confusing to some who only understand probate as a general concept. The following basic guide to the two processes can help you understand their difference better....
Can you appoint two executors to your Florida estate?
Planning your estate plan takes careful thought and consideration. One of the biggest choices you make is regarding who will be the executor of your estate. The executor's primary duty is to carry out the wishes outlined in your will, including settling debts,...
What types of assets typically go through probate in Florida?
When someone names you his or her personal representative in Florida, it becomes important that you familiarize yourself with the probate process and everything it entails. While not every Florida estate has to go through probate, many do. Knowing what the process...