Florida residents who are legally savvy are likely attempting to draft an estate plan that is airtight and allows them to distribute their assets as they intend. That may not always happen, though, because of potential probate litigation from family members and other potential beneficiaries. In fact, the late Mickey Rooney's estate is slated to go to probate after the actor's biological children and widow brought Read More
ESTATE PLANNING WITH LIVING TRUSTS, OTHER SIMILAR OPTIONS
You may think that you do not need a revocable living trust if your estate falls below the federal estate tax exemption. After all, a large number of Floridians' personal estates fall below that $5.34 million individual threshold. Although most estate planning professionals encourage the use of living trusts for estate tax avoidance, there is one other benefit: Trusts help keep your estate out of probate Read More
POUR-OVER WILLS ALLOW FOR EASIER TRUST ADMINISTRATION AFTER DEATH
When you are facing the death of a loved one, the last thing you want to think about are finances. However, if the decedent was the "financial boss" of your family, it can be hard to get back on track after he or she passes away. Trust administration and estate planning experts say that the best way to avoid frustration and confusion after a death is to simply plan ahead and communicate your wishes. Everyone needs Read More
HEALTH CARE SURROGATES DISORIENTED WITHOUT LIVING WILL
Did you know that nearly half of older hospitalized patients need a surrogate to help them make major medical decisions? According to researchers, a large number of those ages 65 and older need assistance from a medical decision-maker, often a relative or close friend. Statistics show that the vast majority of those decision-makers are women. Estate planning experts say that this population of health care surrogates Read More
TRUST ADMINISTRATION IMPROVES PRIVACY, CONTROL OVER ASSETS
Trusts can be an important tool for Florida residents' estate plans. These estate-planning tools have long been used to help reduce or avoid estate taxes for assets that are designed to be passed on to heirs. However, may Floridians may not realize that their own estates may benefit from the use of a trust for wealth transfer. Trust matters warrant a second look by clients and their Florida attorneys, as tax savings Read More
WOMAN’S USE OF PRE-PRINTED WILL LEAVES RELATIVES AT ODDS
The debate started with the completion of an "E-Z Legal Form" by one Florida resident. It ended with a decision from the Florida Supreme Court. What happened in the middle of this estate planning saga might surprise you -- and it might convince you to seek professional advice before committing your final wishes to paper. News reports show that the Florida resident in question penned her initial will on a pre-printed Read More
CHOOSING YOUR FLORIDA EXECUTOR DURING ESTATE PLANNING
So, you are ready to start building your comprehensive estate plan in Florida. Although many of us are familiar with estate planning titles like "executor," we do not always understand the exact duties that accompany that title. Choosing an executor is one of the most important decisions you will make with regards to your estate. Make the right choice in your director for estate settlement by taking the following Read More
PROBLEMS ACCOMPANY ADULTS’ LACK OF ESTATE PLANNING
Many Florida residents feel very protective of their own personal information. Although privacy is valuable, secretiveness can wreak havoc on families in the event of an injurious accident or illness. This is particularly true for families who are working to determine whether their relatives have a living will. Setting up these important documents in advance can make a difficult situation easier for your family Read More
PROBATE LITIGATION AFTER MAN LOSES PAINTING IN COIN TOSS
Many Florida residents know that probate decisions can include some wacky provisions, but few come down to a simple coin toss. A relative of a deceased interior designer is seeking legal redress, however, after he allegedly lost ownership of a valuable painting in a coin toss with his brother. That man is pursuing probate litigation in a bid to regain ownership of the painting. Official reports show that the Read More
ESTATE PLANNING FAILS TO ADDRESS FUTURE OF HISTORICAL OBJECTS
Bernice King, daughter of the heralded Dr. Martin Luther King Jr., is pleading with her brothers not to sell their father's personal effects. Bernice, who lives in Florida's neighboring state of Georgia, retains possession of her father's Nobel Peace Prize and his personal Bible.Estate planning documents transferred King's estate into the hands of his two sons, however, and they are permitted to make final decisions Read More
