If you own waterfront property in Florida, you know the immense value in the beauty and enjoyment it brings. This is the type of asset you want your family to have and cherish for generations to come. However, these properties can come with certain considerations,...
An estate plan is a series of legal documents outlining your desires for the distribution of your possessions and the care of any minor children after you die. It often consists of wills, trusts, powers of attorney, and healthcare directives. An estate plan is vital...
Probate can be lengthy and costly, usually varying depending on the estate, its details, and its value. However, in some scenarios, the estate can skip probate and qualify for less formal alternatives that may become applicable according to the circumstances. One of...
Florida offers a favorable tax climate for estate planning. Unlike many states, Florida no longer has estate taxes. However, the federal government still imposes an estate tax on estates exceeding a specific threshold. Understanding the Federal Estate tax The federal...
Intestacy happens when someone dies without a last will and testament. Since they did not mention how to distribute their property in a will, the courts will determine the beneficiaries based on Florida’s inheritance statute. Temporary intestacy, on the other hand, is...
After someone’s death, there is no automatic method to distribute their assets to their heirs. In most cases, the estate could go through probate, which helps manage and administer the estate under the court’s direction. This process can involve numerous procedures,...
When estate planning, married couples with high-value assets put a premium on their privacy. That’s why they tend to create trusts over wills to do away with the probate process. This gives added protection for their assets and confidentiality. However, creating a...
Have you ever thought about what would happen to your assets and loved ones if you were to become incapacitated or pass away suddenly? The reality is that life is unpredictable. Incapacity or death can strike unexpectedly. When you plan for incapacity and death, you...
Creating an estate plan is an effective way to make decisions and give directions on what will happen to your estate after your death. No matter which estate planning tool you use, such as a trust or will, its enforceability may hinge on its features and functions....
During probate, an executor appointed by the deceased can have significant responsibilities involving the estate and beneficiaries. As someone appointed by the testator to oversee their assets, the person in this role must complete tasks and comply with regulations as...
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