As a Florida resident crafting your estate plan, you have probably already thought about the person you would like to name as your will's executor. Estate administration decisions are among the most important that you can make during the estate planning process. Even though some people would consider being an executor as an honor or compliment, it is important to realize that the job can become time-consuming, even Read More
SHOULD I TRY TO AVOID PROBATE IN FLORIDA?
If you are working on your estate plan, you may come across a lot of information regarding probate – and some of it may seem negative. According to the Florida Probate Code, there are two types of probate: formal and summary administration. A formal administration is necessary if the value of the estate in probate is worth more than $75,000. A summary administration takes place in the following circumstances: If Read More
INCORPORATING COLLECTIONS INTO YOUR ESTATE PLAN
If you have a collection that has either sentimental or monetary value, you should make sure to include it in your estate plan. At Luis E. Barreto & Associates, P.A., we know how important it is to ensure those items are tended to following your passing. Putting the right measures in place can give you peace of mind regarding your collection. One of the first steps you should take is to get an accurate Read More
THE WARNING SIGNS OF FINANCIAL ELDER ABUSE
In 2009, the MetLife Mature Market Institute conducted a in-depth study into financial elder abuse. In Florida and across the country, countless seniors fall victim to various types of abuse on a regular basis. The MetLife study found that financial abuse is underreported and accounts for victims losing at least $2.6 billion every year. Researchers reported that older Americans tend to have a larger net worth, Read More
THE ESTATE PLANNING DOCUMENTS EVERY 18-YEAR-OLD SHOULD HAVE
It may sound odd that someone at the beginning of his or her life should think about what might happen at the end, but in terms of estate planning, it simply makes good sense. At Luis E. Barreto & Associates, P.A., we have seen what can happen when Florida parents lose the legal responsibility for their 18-year-olds but still have the moral and emotional responsibilities. In Florida, once a child turns 18, his Read More
LEGAL METHODS TO PROTECT INCAPACITATED FAMILY MEMBERS
Estate planning is often a difficult subject for families to broach, especially if an aging parent appears to be suffering from mental decline. There are a variety of cognitive conditions that may affect elderly Miami residents, including complications from stroke, Alzheimer’s disease or progressive dementia. This can be heartbreaking for adult children to witness, not to mention complicated if their parents’ wills Read More
WHEN CAN YOU CONTEST A WILL?
The death of a loved one is hard enough without estate planning disputes adding to the emotional upheaval. Unfortunately, if you feel like you were slighted in your family member’s will, you are not alone. Many Miami residents have discovered, after their loved one’s death, that they did not receive what they had hoped or that they were left out of the will completely. Being unhappy with the contents of a will Read More
DEFINITIONS OF COMMON ESTATE PLANNING TERMS
When you’re getting ready to work on your estate planning, you may find some of the terms or phrases confusing. This is common for many Miami residents; unless you are familiar with legal terminology, it is normal to mistake some estate administration terms for others or to have difficulty understanding what they mean. Fortunately, our attorneys at Luis E. Barreto & Associates, P.A., fully understand the Read More
SAME-SEX MARRIAGE RULING CAN BENEFIT ESTATE PLANNING
For decades, same-sex couples fought for equal rights pertaining to the benefits married couples receive. These included such issues as taxes, joint sharing of investments and retirement benefits, inheritance matters and hospital visitation rights. Never in history has the topic of same-sex rights been so prevalent in news and politics than it has during the past few years. In a landmark ruling by the Supreme Court, Read More
WHAT HAPPENS TO YOUR PROPERTY IF YOU DIE WITHOUT A WILL?
Most of us live busy lives even after retirement, and it can be easy to put off things we don’t think about often, such as planning our wills. As a result, some Miami residents may die before getting around to planning their estates. What will happen to your assets and property after your death if you don’t have a will? How would it affect your loved ones? According to The Florida Legislature, it is called Read More
