In the case of a severe incident, an individual can sustain many injuries and wind up in a persistent vegetative state. The person's children, spouse and other family members are all at odds about whether to keep the person alive using ventilators or allow the person to naturally expire. Living wills can prevent this situation from ever occurring, according to legal experts, by making your wishes known to your family Read More
UNDERSTANDING LIFE INSURANCE TRUSTS
When creating an estate plan, many people become concerned about federal and state taxes that could lower the amount that actually goes to beneficiaries. Trust administration experts say that some taxes can be circumvented by creating an irrevocable life insurance trust (ILIT). This type of trust can help Floridians by allowing more of their money to go to their heirs, instead of to the federal or state Read More
CONSIDER RETIREMENT FUNDS IN ESTATE PLANS
Many Florida residents who are preparing for their estate distribution do not realize that their spouse might lose out on retirement money when the other person passes away. This important estate valuation information should be considered before estate planning is finalized. Couples need to realize that the death of one spouse could spell financial disaster for the surviving partner if a plan is not in place. For Read More
TRUSTS ARE SIMPLER THAN YOU MIGHT THINK
Trusts used to be financial tools only used by the very wealthy. Now, trusts are used to achieve a variety of estate planning goals. Experts say that a working knowledge of trust administration is essential for anyone who plans to leave behind a will. Although trusts sound confusing, they are actually quite simple. A trust is a contract between three parties. A person can have more than one role in a trust. Read More
MISSING FLORIDA MOGUL’S MILLIONS UP FOR GRABS
The sudden and dramatic disappearance of a Fort Lauderdale, Florida, millionaire has drawn attention to the future of his estate, according to local legal experts. The man, who disappeared on June 19 from his fishing boat, is accused of committing suicide or faking his own death, which may jeopardize the estate administration proceedings associated with his holdings. It appears that the family may be in for a lengthy Read More
MILLIONAIRE’S WILL IN LIMBO AFTER DEATH
The $4.2 million estate of a man and his mother is in limbo now that the man's wife has been convicted of murdering the two. The convicted murderer went through a nine-week trial before being convicted, and now the family is battling over control of the will, which exemplifies how difficult probate law can be. Now, the civil work begins with family members far and wide seeking their share as part of the complicated Read More
ESTATE TIPS FOR TERMINALLY ILL FLORIDA RESIDENTS
Individuals in Florida suffering from terminal illnesses need to think about what is going to be done with their money and assets once they pass on. It is an inconvenient fact that money suddenly becomes critically important at the end of life, and our hesitance to discuss finances with a dying relative often causes emotional hardships and poor estate administration. Financial clarity and peace of mind should be the Read More
DONATING YOUR ESTATE TO CHARITY
We generally think of wills as documents that divide inheritances up for children and other family members, but what if you do not want to give your money to your family? What if you decide to bequeath your assets to a charitable cause? A few estate administration tips can help facilitate this process for Florida residents. First, people who want to give their life earnings to charity need to ensure that they have a Read More
CHALLENGES WITH SETTING UP FIRST WILL
People who are crafting their first will at a relatively advanced age sometimes struggle with the specific provisions that are commonly included in such estate administration documents. They worry that their children will not receive their full inheritance if the younger generations get divorced. They also fret over whether their children will turn out to be good people; should the child still receive the inheritance Read More
HEIRESS BESTS WILL EXECUTOR IN TYCOON’S ESTATE CASE
A contentious and long-debated estate litigation case related to businessman Wilson Lucom's will has finally been settled, according to federal documents. The man had left most of his $50 million fortune to a charitable foundation designed to assist poor Panamanian children. The executor of the estate had filed claims against the man's widow in relation to the estate distribution decision. Even though he had Read More
