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Category Archives: Estate Planning

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What Are the Pros and Cons of Holding Property in a Trust for Children?

By Legacy Protection, LLP |

Upon your death, you have many options on how to leave assets to your loved ones.  Most people understand that you can leave your assets “outright” to your children (or other loved ones), or you can leave them “in trust.”  Leaving assets “in trust” can be complicated so it is important to understand the… Read More »

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How Can a Spouse Be Disinherited in Florida?

By Legacy Protection, LLP |

In Florida, you may attempt to disinherit your spouse through a Will or other estate planning vehicles. If parties are separated but choose to remain legally married for some reason or are in divorce proceedings, one spouse may try to disinherit their partner. However, the law provides great protection for spouses so it may… Read More »

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What Are the Duties and Responsibilities of a Personal Representative in Florida?

By Legacy Protection, LLP |

When creating a Will, many testators name their spouse or child to serve as the Personal Representative (called an “Executor” in many other states) of their estate. However, choosing someone to be the Personal Representative of your estate is not necessarily an “honor”; it is a job! You must ensure that the selected person… Read More »

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Special Needs Trust: What Is It and What Are the Benefits?

By Legacy Protection, LLP |

If you have a child or another family member with special needs, it is vital to have an estate plan to address your specific circumstances. An individual with special needs may require lifelong care and financial support, which is why you should consider drafting a special needs trust to protect your child’s financial well-being… Read More »

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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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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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