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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....
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,...
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...
When a parent leaves an asset that is not physically divisible to multiple heirs, such as the family home, disputes can arise when the heirs do not all agree on what to do with the asset. The Florida Probate Code governs the options that heirs have. What happens if...
Nearly all jurisdictions have a probate system in which someone is responsible for administering an estate. In Florida, this position is the personal representative. Personal representatives can be natural people, corporations and trusts. Being a personal...
If you have a child with a disability, you may create a special needs trust to provide support after your death. As reported by CNBC, trusts may include money or property used to support a special need while also protecting its beneficiary's income. By naming the...
During probate, the court appoints an executor to handle administrative duties, including paying debts, distributing assets and closing the estate. The probate process can be difficult to navigate, especially if your loved one owned real estate in multiple states. In...
Creating a trust can be of great benefit to your family or a cause you are passionate about, provided that there is a trustee to manage the trust assets until the time comes to distribute them. Even if your trustee is young and in good health, an unforeseen event such...
If you are appointed as a personal representative in a will in Florida, it is important to understand what this means for you. Keep reading to learn more about your fiduciary duties and responsibilities. A personal representative in Florida A personal representative...
Probate is a necessary process after a Florida resident passes away to make sure their assets are properly accounted for and that their wishes are carried out to the best of the state's ability. While the goal is to make it as easy as possible, things in the estate...