What Are the Steps in the Estate Planning Process?
Estate planning is a crucial process that ensures your assets are distributed according to your wishes, protects your loved ones, and minimizes legal complications after your passing. While it may seem complex, a well-structured estate plan provides peace of mind and financial security for your family. At Verras Law, P.A., we...
The Role of Life Insurance in Estate Planning
Estate planning is about more than just drafting a will—it’s about securing your family’s financial future and ensuring your assets are distributed according to your wishes. Life insurance plays a crucial role in estate planning, offering financial security, covering estate taxes, and providing liquidity to heirs. At Verras Law, P.A., we...
How to Choose the Right Executor for Your Florida Estate
Choosing the right executor for your estate is one of the most important decisions in estate planning. The executor, known as a personal representative in Florida, is responsible for managing your estate, paying debts, and distributing assets according to your wishes. Selecting the right person ensures a smooth probate process and minimizes...
Understanding Florida’s Homestead Laws in Estate Planning
Florida’s homestead laws are among the most unique and protective in the nation, offering significant benefits to homeowners. These laws provide powerful safeguards for primary residences, especially in the context of estate planning. If you live in Palm Harbor, Tampa, or St. Petersburg, understanding how Florida’s homestead laws interact with estate planning...
Preserving Your Legacy When You Have No Heirs
Individuals who have no heirs may be tempted to forgo creating an estate plan, thinking that it doesn’t matter who takes their property after death. However, failing to dictate who inherits from you merely allows the state to decide on your behalf. Individuals who you had never intended to acquire your assets...
Year-End Estate Plan Review Checklist
As 2024 winds down, it’s important to review and consider making revisions to your estate plan. Most people believe that once estate plans are created, they never have to look at them again. But a great deal of life can happen in a year, and you are probably in a different place...
When to Consider a Revocable vs. Irrevocable Trust
Trusts are key components of a comprehensive estate plan that offer a number of potential benefits. Two of the most common types of trusts used in estate planning are revocable and irrevocable trusts. There are advantages and disadvantages to both, and deciding which one is right for your unique plan will require...
Estate Planning for Snowbirds and Part-Time Florida Residents
“Snowbirds” are people who spend the warmer months of the year in cooler northern climates, and then migrate south to escape the cold of winter. Many of these individuals are part-time Florida residents. But like anyone else who lives in our state, part-time or otherwise, they need sound estate planning counsel. The...
How Much Does an Estate Have to Be Worth to Go to Probate?
Probate is a court-supervised process by which a person’s last will and testament are validated or “proven.” Once probated, debts of the estate can be paid and assets can be distributed to heirs. Because of the time and expense that are necessarily involved in probating an estate, many interested individuals (particularly heirs)...
Is Intellectual Property Part Of An Estate Plan?
Estate planning ensures that your assets are distributed according to your wishes after death. Regarding estate planning, most people usually consider tangible assets like real estate, bank accounts, and personal belongings. As a result, intellectual property (IP) is often overlooked. In Florida, incorporating intellectual property into your estate plan can be...