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
On What Grounds Can You Contest a Will in Florida?
People often go through painstaking efforts to write their Wills. They take care to cross every “t,” dot every “i,” and pay for an attorney to go over it with a fine-tooth comb. All of these efforts are made in an attempt to make life easier on their family members and keep their estate out of probate courts after they pass away. Unfortunately, sometimes these efforts can be made in vain when family members call the Read More
Understanding Powers of Attorney in Florida
A Power of Attorney is a legal document that grants authority to one person over another, primarily providing the ability to make medical or financial decisions on the party’s behalf, or in the event that they become incapacitated or unable to make decisions for themselves. A Power of Attorney’s power/reach goes only as far as the person giving it specifies. For instance, a Power of Attorney may give the Read More
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
