VanNess & VanNess, P.A.Citrus County Probate & Injury Attorney | Serving Central Florida2026-10-21T08:34:40Zhttps://www.vannessvanness.com/feed/atom/WordPress/wp-content/uploads/sites/1503118/2020/04/cropped-logo-2018-08-03-11-21-04-32x32.jpgOn Behalf of VanNess & VanNess, P.A.<![CDATA[Can an estate’s executor be held personally liable for losses?]]>https://www.vannessvanness.com/?p=489232026-10-16T08:35:45Z2026-10-21T08:34:40Zpersonally liable under certain circumstances.
What mistakes can lead to personal liability?
Not every mistake or poor decision amounts to a breach of fiduciary duty and improper estate administration. Examples of conduct that could lead to liability include:
Giving beneficiaries their inheritances before addressing valid creditor claims, taxes and other estate obligations, which can leave the estate unable to pay its debts and in the red. Also, failing to properly notify creditors can also lead to estate losses.
Failing to secure real estate, allowing it to deteriorate due to vandalism and neglect, letting insurance policies lapse or selling it under market value for no valid reason, all of which can diminish an estate’s overall value.
Taking estate money for their personal expenses, making unauthorized payments or mixing estate funds with personal money, all of which can constitute a breach of fiduciary duty.
Using their position to benefit themselves (self-dealing) or improperly favoring one beneficiary over another can also be a violation of their fiduciary obligations.
Beneficiaries who suspect an estate is being mismanaged have several options. In general, they may need to ask for an accounting and/or raise their concerns with the probate court. Depending on the circumstances, they may have to petition the court to remove and replace the personal representative and pursue a claim for their financial losses.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Can your home bypass probate via a trust?]]>https://www.vannessvanness.com/?p=489192026-10-05T10:19:21Z2026-10-08T10:18:49ZWhat can go wrong?
One or more of the following issues can defeat the purpose of a trust meant to keep property out of probate:
The home never gets transferred to the trust: You can name your home in your estate planning paperwork, but if the deed still shows you as the individual owner, it doesn’t belong to the trust and is still part of your estate.
You’re relying on a pour-owner will: A pour-over will is a sort of “catch-all” that can capture and direct property into a trust after your death. However, too many people rely on that option without realizing that the will still has to go through probate before the transfer can be made.
The trust is at odds with Florida’s homestead rules: Florida law has specific rules whenever a homestead’s owner dies and leaves a spouse or minor child behind. Putting a home in a trust doesn’t negate those rules. If the trust directs the property to someone else in a way that contradicts the law, your transfer may be invalidated. This is particularly important to know if you are on a second marriage and have children from an earlier relationship that expect to inherit the home.
There are alternatives to putting a home into a trust. Depending on your situation, you may benefit from an enhanced life estate deed (also called a Lady Bird deed), which can allow the home to pass to a new owner outside of probate while permitting you to retain control during your lifetime. Property owned jointly with a right of survivorship can also pass directly to a surviving owner.
There’s no perfect estate plan for everyone. Each option has trade-offs. The important thing is to discuss your options carefully with a skilled lawyer and to make choices based on your goals for your life and your loved ones.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[When is it time to replace the executor of a will?]]>https://www.vannessvanness.com/?p=489142026-09-24T05:25:22Z2026-09-29T05:23:53ZChoosing an executor is an important part of creating a will. This person is responsible for managing the estate, carrying out the terms of the will and handling assets for the benefit of those entitled to receive them.
Circumstances can change after you make that choice. As part of estate planning in Florida, reviewing your executor periodically can help ensure that the person you selected remains willing and able to take on the responsibility when needed.
Your executor no longer wants the role
Someone who initially agreed to serve as executor may later decide that they cannot accept the responsibility. Personal commitments, relocation or other circumstances may make administering an estate difficult.If you learn that your chosen executor no longer wants the role, selecting a replacement while you can still update your estate plan may prevent uncertainty later.
Your executor has died or become incapacitated
An executor must be capable of performing numerous administrative and financial responsibilities. If the person you selected dies before you or develops a condition that prevents them from fulfilling those duties, your original choice may no longer be practical.Reviewing your will after significant changes involving your executor gives you an opportunity to name someone else.
A conflict of interest has developed
Being both an executor and beneficiary does not necessarily create an improper conflict. Problems can arise, however, when an executor's personal interests interfere with the responsibility to administer the estate appropriately. A significant conflict may provide a reason to reconsider whether that person should continue serving.
The executor is mismanaging the estate
Concerns can also arise after estate administration begins. Possible misconduct may include failing to follow the will, mishandling estate property, using assets for personal benefit or failing to cooperate with beneficiaries.Removing a will executor after administration has begun generally differs from changing your own executor designation while creating or updating a will.Regularly reviewing your executor selection can keep your will aligned with your current wishes. If you want to replace your chosen executor or have concerns about someone currently administering an estate, seek legal guidance about the appropriate process and available options.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Reasons to consider a trust for your autistic child]]>https://www.vannessvanness.com/?p=489122026-09-03T18:10:52Z2026-09-08T18:10:01ZPlanning for an autistic child's long-term financial security can involve more than deciding who will inherit your assets. A direct inheritance may affect eligibility for certain government benefits and may not provide the oversight you want for those funds.
Creating a special needs trust (SNT) for an autistic child can allow assets to support your child's needs while addressing these concerns. A special needs trust can become an important part of planning for your child's financial support after you are no longer able to provide it yourself.
Protect eligibility for government benefits
Certain government programs, including Supplemental Security Income and Medicaid, have financial eligibility requirements. Leaving substantial assets directly to your child could potentially affect access to these benefits.A properly structured special needs trust can hold assets for your child's benefit without those assets being treated in the same manner as a direct inheritance. This can help preserve important benefits while providing another source of financial support.
Pay for needs beyond basic benefits
Government benefits may cover basic needs but might not pay for everything that could improve your child's daily life. An SNT can provide supplemental resources for expenses that public programs do not cover.Depending on the trust terms and applicable benefit rules, funds may help pay for educational programs, specialized equipment, therapies, home modifications and other resources that support your child's quality of life.
Protect assets intended for your child
An SNT places inherited assets under the management of a trustee rather than transferring the money directly to your child. This structure can provide additional safeguards for funds intended to support your child over many years.Trust assets may also receive protection from creditors or people who might attempt to exploit a vulnerable beneficiary. The trustee manages distributions according to the trust terms and your established objectives.Florida estate planning for an autistic child requires careful coordination between inheritance plans and benefit eligibility. Consider seeking legal guidance when creating an SNT so its terms reflect your child's long-term needs and your family's goals.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Should you add a spendthrift trust to your estate plan?]]>https://www.vannessvanness.com/?p=489092026-08-21T08:32:13Z2026-08-26T08:31:32ZOne often-used option for estate planning is a spendthrift trust. These trusts have benefits similar to those of any other trust, but their beneficiaries never gain access to the principal. Instead, the investment of the principal and the management of the trust, including disbursements of funds, are handled solely by the trustee.
Let’s go on a deeper dive into the benefits of funding spendthrift trusts.
Who can benefit from funding these trusts?
Loving parents and grandparents can achieve peace of mind for loved ones they leave behind by utilizing spendthrift trusts. Below are a few of the advantages:
The funders preserve the principal of the trust. This is important if you want these funds to last for the beneficiary’s lifetime.
Trustees carry out the funder’s intentions. The one making and funding the trust sets its terms. That means the frequency of disbursements and the management of the funds is left up to the previously instructed trustee.
Trusts skip probate. Complicated estates can take a year or more to resolve. Once the funder passes, funds are made available according to the terms of the trust.
There can be other advantages to funding spendthrift trusts. An estate planning professional can help you explore all your options.
These trusts are not just for overspenders
While a spendthrift trust can indeed help protect a loved one from succumbing to their worst instincts when they have an addiction to drugs, gambling, shopping or something similar, they are useful under other circumstances as well.They’re often used to protect beneficiaries who are in occupations that are considered high-risk for litigation, such as those in medical professions, law or politics. They can protect the principal of the trust from being seized in court judgments or jury verdicts. They can also be used to shield a beneficiary from asset grabs in a divorce.The takeaway? While not everyone needs a spendthrift trust, those who do use them can customize them to fit their beneficiaries’ circumstances.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Trusts are the foundation of generational wealth]]>https://www.vannessvanness.com/?p=489072026-08-11T16:16:43Z2026-08-14T16:15:33ZGenerational wealth is the collection of financial assets that can pass from one generation to the next. Thrivent describes it as real estate, investments, business interests, cash reserves and appreciating personal property. Families across Florida often build these assets over decades, but without a coordinated estate plan, much of that value can disappear before it reaches the people they intend to support.
This type of wealth is different from everyday savings. It focuses on creating and preserving assets specifically meant for children, grandchildren and future generations. In Florida, this often includes a primary residence, rental property, vacation homes, investment accounts and family-owned businesses. Estate planning is what ensures these assets transfer smoothly and according to the owner’s wishes.Generational wealth matters because it can provide financial security and new opportunities. Families often use inherited assets to fund education, start businesses or secure housing. Wealth can also help break cycles of financial hardship and support charitable or community values. When managed well, it can change the trajectory of a family for decades.Families build generational wealth in many ways. Life insurance can create an immediate transfer of funds. Real estate can grow through appreciation and rental income, which is especially relevant in Florida’s strong housing market. Education savings accounts can support long-term earning potential. Family-owned businesses can provide income and stability across generations. Other appreciating assets, such as stocks, bonds, art or intellectual property, may also play a role.Estate planning protects these assets through tools like wills, revocable trusts, irrevocable trusts, beneficiary designations and powers of attorney. Trusts can help avoid probate, minimize taxes and set conditions for inheritance. This is important in Florida, where probate can be time-consuming and public. Succession planning is essential for family-owned businesses. Clear documents reduce conflict and ensure assets pass as intended.Many families lose wealth by the second or third generation due to lack of financial knowledge, poor communication and lifestyle inflation. Estate planning, education and open discussion help reduce those risks.When doing your Florida estate planning, learn how to coordinate assets, protect wealth and create a lasting legacy for future generations.
]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Can your family inherit your rewards and memberships?]]>https://www.vannessvanness.com/?p=489052026-07-28T09:57:03Z2026-07-31T09:55:41ZWhich rewards and memberships can have value?
Many rewards programs and memberships accumulate value over time. Examples include:
Airline frequent flyer miles
Hotel loyalty points
Credit card rewards
Country club or golf club memberships
Yacht club or vacation club memberships
Each program sets its own rules. Depending on the terms, rewards or membership rights may expire at death, remain available to an estate or transfer to an eligible beneficiary.
Why these assets are easy to miss
Unlike real estate or investment accounts, rewards programs and private memberships may not appear on a traditional asset list. Family members or a personal representative may not know the accounts exist. As a result, valuable benefits or contractual rights may go unclaimed.
Some private memberships may also include refundable deposits, equity interests or other financial rights that become part of an estate.
How these assets fit into estate planning
Estate planning can account for more than tangible property. Records of loyalty programs and memberships can help identify accounts and document the terms that govern them. Those records may also help a personal representative determine whether any remaining value belongs to the estate or an eligible beneficiary.
Addressing these assets alongside other property creates a more complete estate inventory and can make estate administration more efficient.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Should you consider a Lady Bird deed to avoid probate?]]>https://www.vannessvanness.com/?p=489032026-07-14T09:42:46Z2026-07-17T09:42:06ZProbates can sometimes turn into a drawn-out legal process in court. To avoid this, many Florida property owners choose a Lady Bird deed. But, is this the right choice?
What is a Lady Bird deed?
A Lady Bird deed is a highly efficient legal instrument that helps you pass down your property to your loved one without involving any court or judge. While Florida doesn’t have a statute for this, the Florida real estate transfer laws may apply to this deed.
What are the benefits?
Most of the benefits of this deed are concerned with easing the inheritance process. A few of them include:
No court fees and more privacy, as it avoids probate court
Significantly lower attorney fees compared to a revocable living trust
Reduced exposure to Medicaid estate recovery after your death
These perks offer a straightforward way to secure your primary asset while maintaining full control over it during your lifetime.
What are the disadvantages?
The Lady Bird deed has a very specific function. This can lead to many disadvantages, including:
Limitation to one property only (requiring separate deeds for multiple properties)
Hesitation by title insurance companies towards Lady Bird deed properties
Lack of protection against creditors
Based on an individual’s circumstances, these risks substantially undermine the intended benefits of the deed.
What should you choose?
If you are planning to leave your only home to one person, a Lady Bird deed could be an excellent option. However, if you have multiple properties, you might need a more sophisticated approach. In either case, a legal counselor experienced in probate and wills can help you draft a Lady Bird deed or an elaborate estate plan without costly errors and safeguard your interests as you intended.
]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[Can someone refuse to be a personal representative in Florida?]]>https://www.vannessvanness.com/?p=489022026-06-30T14:27:11Z2026-07-03T14:26:34ZWhat does a personal representative do?
A personal representative handles the estate administration process. This person gathers assets, notifies creditors and pays valid debts. They also file required paperwork and distribute property to beneficiaries.
Can a person refuse the appointment?
Yes. Generally, Florida probate courts cannot force someone to accept the position of administrator. If the named individual declines, the court will appoint an alternate listed in the will. If no alternative is listed, the court will select another qualified person.
Why might someone decline the role?
Many people accept the appointment out of loyalty to a family member. Still, others may choose not to serve for several reasons:
Lack of time: Probate takes time and attention. Busy professionals or business owners may not be able to handle the work.
Family tension: Disputes among heirs can make the role more stressful. A neutral person may help protect both the estate and family relationships.
Estate complexity: A high-value estate may involve tax matters, businesses or multiple properties. Some people may not want to manage that level of responsibility.
Concern about liability: A personal representative owes fiduciary duties to the estate and its beneficiaries. Mistakes can lead to legal or financial problems.
Declining the appointment is not necessarily a sign of disrespect. In many situations, it reflects a practical assessment of the responsibilities involved.
How does this affect high-net-worth estates?
Estates with substantial assets often face unique challenges. They may include business valuations, property in multiple states or complex tax issues. These matters can make probate more difficult and time-consuming.
For that reason, wealthy families benefit from choosing the right person for the job. The person serving in this role should have the time, skills and judgment needed to manage the estate. A clear estate plan can also help families make informed decisions and keep estate administration on track.]]>On Behalf of VanNess & VanNess, P.A.<![CDATA[How to include luxury assets in your estate plan]]>https://www.vannessvanness.com/?p=488992026-06-16T09:08:05Z2026-06-19T09:07:34ZSetting the foundation for tangible property
A successful transition often begins by explicitly separating luxury items from general household property. Instead of crowding your will, Florida law allows you to use a "Separate Writing" to list these personal assets. By citing this in your will, you can legally delegate who gets specific items. You can then update the list anytime without the cost or formality of amending your entire estate plan.
However, your plan relies on proper documentation. While Florida has no state inheritance tax, the IRS requires formal appraisals of your luxury items. Missing these valuations or failing to prove ownership can spark costly disputes among heirs or trigger aggressive IRS audits during probate.
Enhancing protection with trusts
While a will clearly outlines your intentions, it still has to go through the public probate court. To gain more privacy and control, you may choose to place your luxury assets into a trust. This approach usually allows your family to bypass probate, keeping the value of your collection confidential.
A trust also allows you to set legally binding instructions for how these assets should be managed, maintained or eventually sold. This is especially useful for high-maintenance property like yachts, aircraft or luxury vehicles. You can even set aside specific trust funds to cover ongoing costs such as insurance, storage and maintenance. These steps provide a structured way to care for your prized possessions.
Securing the future of a collection
Preserving a luxury lifestyle needs a proactive approach to asset management and transfer planning. Combining clear instructions in your estate documents with expert valuations helps position your heirs to receive the full value of their inheritance. Building a comprehensive framework alongside an estate planning professional can be an effective way to protect your most valued collections.]]>