Estate planning involves crucial decisions, particularly when it comes to protecting and managing assets for individuals with children. Trusts offer numerous benefits, including asset preservation, tax advantages and control over asset distribution. Here are some of...
When family relationships sour, estrangement between parties may occur. Bitter feelings and acrimony can increase when a family member dies due to disputes over the estate. Though conscientious individuals may create a will in hopes of eliminating such contention,...
When a loved one dies, settling his or her estate can be stressful. Family dynamics can be complicated, and your inheritance may not be what you expected. If you believe your loved one was not of sound mind or was under undue influence from another party while writing...
A power of attorney grants one person the right to act as an agent on behalf of another, whom the law calls the "principal." Unfortunately, cases occur where the agent abuses that authority. In such instances, family and friends may be the principal's only means to...
Trusts are legal arrangements that allow individuals to transfer assets to another person or entity for the benefit of a third party. There are two main types of trusts: revocable and irrevocable. Here are some of the key differences between the two: Revocable trusts...
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 you create a will, part of this process involves naming someone as the executor of your estate. This person is responsible for handling your affairs after you die and making sure the court adheres to the terms included in your estate planning documents. According...
In addition to the overwhelming feeling of loss after the death of a loved one, the financial burden can add extra stress to the grieving family. The National Funeral Directors Association found that the median cost of an adult funeral in 2021 was nearly $8,000. To...
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...