What Is a “Living Trust” and When Is It Helpful?

A living trust can be a practical and versatile addition to an estate plan that can help a person achieve more estate planning objectives. Unlike a Will, a living trust comes into effect during the lifetime of a person who creates it even though its provisions are designed to secure the interests of the person’s family and estate after their passing. In this article, we will explain how a trust is created, the Read More

What Is the Difference Between a Medical Power Attorney and a Health Care Surrogate?

When you think about estate planning, you likely immediately think of a Will. A Will is, indeed, an important part of every estate plan and each American adult should be encouraged to create one, preferably under the direction of an attorney. However, even though estate plans are usually associated with making arrangements for after one’s passing, they should also include a person’s wishes in situations where they Read More

Estate Planning: The Advantages of Creating a Trust

When people think about estate planning, they usually think about having a simple Will. Indeed, a Will is one of the most important elements of a solid estate plan and, in fact, one of the most important documents one needs to write in his or her adult life. However, a good estate plan must include arrangements that go beyond a Will. Why? Simply because a Will is limited. For example, even with a Will in place, a Read More

Seniors and Social Isolation: 4 Tips for Loved Ones Who Live Alone

The challenges of the old age are many. Deteriorating health and physical decline can seriously limit a person’s independence and enjoyment of life. The ever growing costs of life can make it increasingly difficult for seniors to meet their economic needs living only off their retirement pension. But among all of the trials and tribulations old age can bring about, there is one that can be easily overlooked by Read More

How to Avoid Sending Your Estate Through Probate

The probate process involves formal court proceedings in which the assets of a deceased person are divided and transferred to beneficiaries and heirs. This process is usually costly and time-consuming, involves a lot of paperwork, and can be uncomfortable for the surviving members of the family due to its public status. That’s why it is usually advisable to take steps to avoid sending the estate through Read More

How to Keep Long-Term Care Costs From Ruining Your Finances

Even though Americans are now living longer and in better health than ever before, studies show that 75% of people aged 65 and older will at one point need some form of long-term care. Unfortunately, the costs of this type of care keep rising year by year. Surveys suggest that many Americans are neither adequately educated about the expenses related to long-term care nor are they prepared to carry to the Read More

A Primer for Trust Termination

If life didn’t evolve and change so often we may be able to make better plans. However, it is only natural that life circumstances shift, and when they do, we have to make changes with them. Such is true with Trusts. In Florida, all Trusts are revocable unless stated otherwise. Most Trusts will also include specific language on how the Trust should be dissolved. If such language exists, you must comply with the Read More

Defending Against a Will Contest

It’s a fair assumption to believe that when you or a loved one has taken the time to carefully plan out your Will, designate executors, and have it notarized, that there is no room for question or concern. Unfortunately, that is not always the case, and Will contestations are more common than you’d likely believe. As frustrating as it can be to have a deceased family member’s wishes called into question, there are Read More

Estate Planning 101: Understanding the Florida Probate Process

Much like other legal processes, each state governs and adjusts their procedures accordingly. Florida probate is no different. In fact, Florida recently implemented a ”summary administration” process that allows residents to streamline the probate process, thus making it less time-consuming, and less stressful than ever before. Who Benefits From Summary Administration? Under Florida probate laws, an estate Read More

Funding Retirement Through Estate Planning

With so many options, plans, and people telling you where to put your money, it’s sometimes difficult to know where to place your funds to maximize them to their fullest potential. You are certainly not short on options! Between IRAs, 401(k)s, and trust accounts, it’s easy to get confused about the best place to put your money, especially when you are gearing up for retirement. Retirement accounts, much like Read More