The Costs of Probate in Florida
If you pass away in the state of Florida, your assets will likely need to go through probate. Probate is the court-administered process through which the validity of a will is established, assets are located, expenses settled, and the remaining proceeds...
The Advantages of a Trust vs. a Will
Advanced Class: Navigating Florida’s Intestacy Laws
Intestate means having died without a will. If there is no will, each state has laws that specify who will inherit the property of the deceased (referred to as the "decedent" in probate proceedings), which are usually based on the closeness of familial relationships. In complex situations, intestacy can lead to unwieldy results, and...
Simple Tips for Personal Representatives
While being named as the personal representative (another way of saying executor or administrator) of a friend or loved one's estate may be an honor, it is also a serious responsibility. In fact, managing deceased person's assets can be complicated...
Tips for Avoiding a Will Contest
Will challenges and probate litigation are much more common than many people realize, and they often drag on for months and years and can deplete the estate. While entire treatises have been written about this topic, there are just a few basic reasons a...
Probate and Estate Planning In the Cloud: Florida Fiduciary Access to Digital Assets Act
What is the Florida Fiduciary Access to Digital Assets Act, and why is it important?
On July 1, 2016, the Florida Fiduciary Access to Digital Assets Act took effect. "Digital assets" include electronic records like emails, texts, online photographs, and social media accounts. Before the passage of the Digital Assets Act, Florida, like...
The Brady Bunch has become the typical Modern Family – How remarriages are affecting inheritance
If a couple is married for the first time with young children and are working on your estate plan, the decisions about where the assets go are usually easy. Most parents in that situation want their entire estate to go to the surviving spouse, and upon the death of the surviving spouse, equally to their...
Differences Between Testamentary Trusts and “Living” Trusts
Do Heirs Have to Pay Off Their Loved One’s Debts?
The aftermath of the great economic crisis of 2008 has left many older Americans facing substantial debt in their final years. Are you concerned that, rather than inheriting wealth from your parents, you will instead inherit their bills? The good news is, you probably won't have to pay them. You cannot inherit debts. Probate...
What to Do After a Loved One Passes Away
The loss of a loved one is one of life's most painful traumas, and the responsibility for handling the affairs of the deceased can...