It turns out that "Family Feud" is not just a popular game show -- it also describes the aftermath of many poorly drafted estate plans. With the recent economic turmoil of the Great Recession still fresh in many Floridians' minds, a growing number of legal estate challenges are cropping up in the state's courts. How can you protect your estate plan andwill from being subject to litigation after your death? Today, we Read More
CHOOSING AN EXECUTOR FOR YOUR WILL CAN BE A DIFFICULT PROCESS
When you choose a person or an entity to serve as the executor of your will, you are trusting that your property will be divided according to your wishes. What happens, though, when you do not have children or any relatives who are willing to execute your Florida will? For some people, finding just the right person can take more effort during the estate planning process. During your estate planning process, you Read More
ESTATE PLANNING AT YOUR WEDDING? IT’S ACTUALLY IMPORTANT
Planning a wedding is fun! You have to think about the cake, the colors of the decorations, the ceremony and even the people you want to have as bridesmaids and groomsmen. Most Florida residents probably avoid thinking about estate planning during this magical time; after all, what could a will have to do with your marital bliss? It turns out that prenuptial agreements, trusts and wills all play a very important role Read More
YOUNG ADULT DIES WITHOUT WILL, LEAVES PARENTS ARGUING OVER ASHES
Two Florida parents seeking to obtain the rights to their child's ashes after their divorce may not treat the cremains as "property," according to a state appeals court. The ruling, handed down on May 21, was likely the first of its kind in Florida, according to news reports. It appears that the parents were trying to decide what to do with the ashes of the 23-year-old man who had not left a will. The decedent's Read More
USE A TRUST TO PROTECT ESTATE VALUE FROM BENEFICIARY’S DIVORCE
If you are the parent of an adult child who is in a dodgy marriage, you may not feel entirely comfortable handing over your entire estate to your son or daughter. Imagine if your child divorced after your death, and suddenly your estate value was up for grabs in an equitable division proceeding! How do you use estate planning to make sure your child is provided for, even in the event that he divorces? Today, Florida Read More
ROONEY’S ESTATE HEADED FOR PROBATE LEGISLATION AFTER CHALLENGES
Florida residents who are legally savvy are likely attempting to draft an estate plan that is airtight and allows them to distribute their assets as they intend. That may not always happen, though, because of potential probate litigation from family members and other potential beneficiaries. In fact, the late Mickey Rooney's estate is slated to go to probate after the actor's biological children and widow brought Read More
ESTATE PLANNING WITH LIVING TRUSTS, OTHER SIMILAR OPTIONS
You may think that you do not need a revocable living trust if your estate falls below the federal estate tax exemption. After all, a large number of Floridians' personal estates fall below that $5.34 million individual threshold. Although most estate planning professionals encourage the use of living trusts for estate tax avoidance, there is one other benefit: Trusts help keep your estate out of probate Read More
POUR-OVER WILLS ALLOW FOR EASIER TRUST ADMINISTRATION AFTER DEATH
When you are facing the death of a loved one, the last thing you want to think about are finances. However, if the decedent was the "financial boss" of your family, it can be hard to get back on track after he or she passes away. Trust administration and estate planning experts say that the best way to avoid frustration and confusion after a death is to simply plan ahead and communicate your wishes. Everyone needs Read More
HEALTH CARE SURROGATES DISORIENTED WITHOUT LIVING WILL
Did you know that nearly half of older hospitalized patients need a surrogate to help them make major medical decisions? According to researchers, a large number of those ages 65 and older need assistance from a medical decision-maker, often a relative or close friend. Statistics show that the vast majority of those decision-makers are women. Estate planning experts say that this population of health care surrogates Read More
TRUST ADMINISTRATION IMPROVES PRIVACY, CONTROL OVER ASSETS
Trusts can be an important tool for Florida residents' estate plans. These estate-planning tools have long been used to help reduce or avoid estate taxes for assets that are designed to be passed on to heirs. However, may Floridians may not realize that their own estates may benefit from the use of a trust for wealth transfer. Trust matters warrant a second look by clients and their Florida attorneys, as tax savings Read More
