Category Archives: Estate Planning
Five Of The Most Common Estate Planning Mistakes
Making the decision to draft a will and create an estate plan is a very responsible one. Doing so will make sure that your loved ones are less stressed and taken care of during one of the worst times of their lives. Unfortunately, slapping together an estate plan is not enough to ensure your… Read More »
Common Questions About Florida’s Elective Share Rule
An often misunderstood aspect of Florida probate administration is the “elective share” rule. The elective share is essentially a legal protection against one person completely disinheriting their spouse. The elective share basically represents the share that the surviving spouse may legally claim in the deceased spouse’s property, notwithstanding any will or revocable trust to… Read More »
What Are The Different Types Of Beneficiaries Under A Florida Will?
One of the main purposes in making a will is to name one or more beneficiaries who will receive your property after your death. Broadly speaking, there are three types of beneficiaries under a will: primary, alternate, and residuary. Here is a brief explanation of each category. Primary Beneficiaries A primary beneficiary is basically… Read More »
Should I Keep My Original Will In A Safe Deposit Box?
When it comes to probate, original is always best. That is to say, in order to open a probate estate when the decedent left a last will a testament, it is usually necessary to file the signed original document with the court. In most cases, the executor or personal representative named in the will… Read More »
Dealing With “Digital Assets” As Part Of Your Estate Planning
More and more, our personal lives revolve around our smartphone. Whether you use an Apple or Android device, these phones often contain our entire personal financial, medical, and social media histories. So what happens to all of that information after the user dies? How to deal with “digital assets” has become an issue of… Read More »
Do You Need A Payable On Death (POD) Bank Account As Part Of Your Estate Plan?
When setting up a bank account, you have the option of choosing beneficiaries to whom the remaining funds will automatically transfer in the event of your death. This is known as a “payable on death” (POD) bank account. Many people open payable on death bank accounts as part of their estate plan because the… Read More »
4 Essential Tools To Plan For Incapacity In Florida
Incapacity refers to a person’s lack of physical and/or mental ability to make important decisions or perform activities of daily living. When a person becomes incapacitated, they can no longer manage their own affairs or maintain their own physical well-being. For this reason, they need someone to make healthcare and financial decisions on their… Read More »
Why Should I Avoid Intestate Succession (Dying Without A Will) In Florida?
Many Florida residents put off estate planning until it is too late. Of course, some people reason it does not matter anyway. After all, doesn’t Florida law decide what happens to a person’s property after they and do not leave a will? For many people, they figure it is just easier to let the… Read More »
What Exactly Is “Undue Influence,” And How Can I Avoid It When Making My Will?
The phrase “undue influence” is often used when discussing contested probate estates. The basic idea is that a will (or trust) should be considered invalid because some person engaged in improper action to procure the document in question. For example, let’s say Emily has three adult children. One of these children, Scott, cares for… Read More »
What Is An Insolvent Estate?
The normal process for administering a Florida probate estate involves gathering the assets owned by the deceased, paying any outstanding debts and expenses, and then distributing whatever is leftover to the beneficiaries of the estate. But what happens when the estate’s debts and expenses exceed its assets? In legal terms, this is known as… Read More »