3 Things a Will Can Do and 3 Things It Can’t

Many people may find that the thought of preparing a Will is unsettling, if not uncomfortable. It reminds us that not only are the people and things we love temporary, but of our mortality as well. As unpleasant as that may sound, this is exactly why a Will is unquestionably necessary! Recognizing that having an up-to-date Will is important, let’s discuss what Florida state law says a will has the power to do, Read More

What is the Difference Between Revocable and Irrevocable Trusts?

Before creating a trust, it’s important to understand just what the differences between revocable and irrevocable trusts are, and any accompanying advantages or drawbacks.   Revocable Trusts Advantages A revocable trust, also known as a living trust, gives you ownership of and control over your assets. It can be changed, amended, or even terminated as you desire. This gives you a great deal of flexibility if Read More

A Brief Guide to the Responsibilities of a Legal Guardian

A guardianship is a legal provision to protect the interests of a person (referred to as a ward) who is considered incapable of managing their own affairs. Appointed by the court, guardians are granted authority to make healthcare and financial decisions, as well as other decisions that affect the ward’s day to day life. But they are also bound by a duty to act in the best interest of their ward. Some decisions that Read More

Handing Over the Reins: Where to Begin with Business Succession Planning

You may realize that you need to plan for the future of your business when you are no longer able to run it, but you may not know where to start. Planning for a future that does not involve you can be both depressing and confusing, yet it can be exciting as well. You are planning for your legacy, so it important to make time for it. Getting started with succession planning can be the most difficult part. However, Read More

Why Would You Need a Domestic Partnership Agreement?

Domestic partnerships, whether they be heterosexual or homosexual, are recognized in Florida. Florida legalized same-sex marriages in the state on January 6, 2015. In June 2015, the United States Supreme Court issued a decision that legalized same-sex marriage in the whole country and required all states to recognize legally performed same-sex marriages that came to be in other jurisdictions. However, domestic Read More

Florida Estate Planning: The Pre-Need Guardian

Unfortunately, many deaths in Florida will occur in a hospital or a nursing home. A good portion of these deaths is unexpected, leaving little time for planning or consideration of extremely important aspects of your life, particularly for your children. Critical decision-making must sometimes be made during the last few weeks, days, or even hours of life. However, you may not be in the right state of mind to make Read More

Trustee Malfeasance Explained

A trustee plays a critical role in the administration of a trust. They have certain duties and obligations that must be fulfilled by law and to carry out the purposes of the trust itself. When a trustee breaches these duties is often referred to as “trustee malfeasance.” In situations where the trustee commits fraud or ignores his or her duties, there can be a significant detrimental effect on the trust and its Read More

4 Important Considerations When Selecting a Trustee

A trustee will hold your assets on your behalf and deal with them according to your instructions. Because the trustee is entrusted with precious assets, it is important to select the trustee for your trust very carefully. Choosing someone who is dishonest or disloyal can be extremely detrimental to your beneficiaries and your trust. Above all else, you should choose someone that you feel is trustworthy and honest. Read More

What You Need to Know About Bypass Trusts

Most people don’t particularly like paying taxes, and if assets are inherited from a family member, it’s even more frustrating to have to pay taxes on something that was intended as a gift. However, with a little planning and forethought, you can utilize a specific document to avoid having excessive taxes taken out of your loved one’s inheritance. It’s called a bypass trust, and in some cases it can save hundreds of Read More

A Brief Introduction to Undue Influence

Undue influence in the context of estate planning is essentially the manipulation of a vulnerable testator by someone who wants to profit from that vulnerability. Accusations of undue influence generally arise in disputes over the validity of a will, particularly if the person who drew it up was ill, elderly, or otherwise dependent on others at the time. The alleged manipulator is accused of interfering with the Read More