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EstatePlanning3

4 Types of Wills for Estate Planning in Florida: Which One Do You Need?

By Legacy Protection, LLP |

A Will – or formally called a Last Will and Testament – is considered the most important estate planning document that most people can have.  After creating a Will, you can have complete control over how your assets are distributed after your death. A well-drafted and executed Will can give you peace of mind… Read More »

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Can You Terminate an Irrevocable Trust in Florida?

By Legacy Protection, LLP |

Contrary to popular belief, even an irrevocable trust can be terminated. It may be possible to terminate a trust if the trust is not serving the interests of the beneficiaries or if the trust purpose has been frustrated or impracticable. Terminating an irrevocable trust in Florida can be complicated, which is why it is… Read More »

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Tenancy in Common: What Is It and What Are the Benefits?

By Legacy Protection, LLP |

Tenancy in common is one of three types of concurrent ownership recognized by Florida courts. Joint tenancy is a term used for when two or more persons own the same asset or property. To begin, there are two other types of co-ownership: Tenants by the entirety. This type of concurrent ownership is available only… Read More »

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6 Most Common Estate Planning Mistakes to Avoid in Florida

By Legacy Protection, LLP |

There are many quick and easy estate planning tools that you may know about.  However, there are many estate planning misconceptions and working with an experienced St. Petersburg estate planning attorney can help you avoid common mistakes. Below, we provide a list of six estate planning mistakes that can – and should – be… Read More »

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How Small Business Owners Can Benefit from Estate Planning in Florida

By Legacy Protection, LLP |

Planning for your business oftentimes goes hand in hand with your personal estate planning. You have worked hard to make your business a success, which is why it is important to plan for your business’s future from a succession standpoint, too. As a small business owner, you must make more decisions regarding your personal… Read More »

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When Do You Need a Waiver of Spousal Rights in Florida Estate Planning?

By Legacy Protection, LLP |

In Florida, a surviving spouse is entitled to many rights in the property of their deceased spouse. The widow’s rights include, but are not limited to, the following: Homestead exempt property Elective share Intestate share Pretermitted share Family allowance Exempt Property allowance Primary preference to serve as personal representative in intestate estates Under Section… Read More »

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What is the Preference of Appointment of the Personal Representative in Florida Probates?

By Legacy Protection, LLP |

One of the many benefits of creating a Will in Florida is the testator’s ability to appoint a personal representative. Selecting your personal representative is a fundamental part of estate planning.  But who is to serve if there is no Will when someone dies?  Who has the “preference of appointment” to serve as the… Read More »

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Estate Planning for Single Parents: How to Protect Your Children?

By Legacy Protection, LLP |

Many families in America have single-parent households. While everyone should have an estate plan, the need for estate planning is greater for single parents with minor children.  If the single parent dies or becomes incapacitated, does he or she know who will care for their child?  By setting up a plan ahead of time,… Read More »

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Estate Planning for Dementia and Alzheimer’s Disease in Florida

By Legacy Protection, LLP |

While all of us hope that we will be in good health and of a sound mind as we age, there is always a risk of developing some sort of condition that may impact our mental abilities.  For many older people, being diagnosed with dementia or Alzheimer’s means that they are unable to make… Read More »

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4 Reasons Why You Should Avoid the Probate Process in Florida

By Legacy Protection, LLP |

After your death, your surviving loved ones will determine if there are assets of yours that need to go through probate.   Probate is a court-supervised process where a Personal Representative is appointed by the Court, and your assets are distributed to your creditors and surviving heirs.  Probate is very easy to avoid if you… Read More »

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