A will is a part of an estate plan, and when a person passes away, there is a distribution of assets to their heirs through the legal process of probate. Typically, parties look to a decedent’s estate plan for guidance on what they want to happen with their...
Heirs & Beneficiaries
Why should beneficiaries understand the duties of a fiduciary?
In the intricate world of estate planning and wealth management, the role of a fiduciary stands as a cornerstone of trust and responsibility. A fiduciary is a personal representative appointed by a principal to act on behalf of the principal when they are no longer...
Is it too late to contest a will when it’s in probate?
Dealing with the death of a loved one can be a devastating and confusing time. In addition to your grief, you may encounter many logistical or legal issues after a loved one passes away. Your loved one’s estate plan is the roadmap for the legacy they hoped to pass on...
My loved one gave me a gift on their death bed
A serious illness. The progression of a disease. Entering end-of-life care. Any of these scenarios may cause an individual to think about passing on their property or giving gifts to loved ones while they are still alive - even if an estate plan has already been...
Three issues to note when it comes to estate taxes in Florida
People create estate plans by planning for the future. Who do I bequeath an important family heirloom? How about my investment property? What about my pets? These and many more issues are important to many of us.Another important aspect, however, involves estate...
The importance of appointing an alternate personal representative
Just as in seemingly every aspect of life, a "Plan B" is essential when it comes to estate planning.Appointing a personal representative to oversee your estate in the event you pass away is crucial to ensuring that your wishes are carried out in accordance with your...
Talking to your future heirs
When it comes time to talk about what you will leave behind, everyone takes a different approach and for their own reasons. You may want to leave your estate plan a surprise, or you may want to have regular family meetings on the subject.You may fear that if you have...
Implications of inherited stocks
Florida does not tax income. That doesn't mean the state doesn't seek to collect revenues when and where it can. Among the chances it looks for are occasions when a loved one dies and has bequeathed a transfer of assets.Typically, if the material in question is in the...
Do heirs & beneficiaries have rights if there is no valid Will?
Do heirs and beneficiaries have rights if there is no valid Will when someone passes away while residing in Florida? When a resident of Florida dies, assets are disbursed according to Florida law. Estate administration is generally filed in the county where the person...
Understanding how a trust works
When a Florida resident creates a trust, there are three parties that are central to the document. The first party is the person who creates the trust who is referred to as the grantor. This person names a trustee to carry out provisions of the trust, and in some...